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Trade Finance Agreement

Trade Finance Agreement Template for Austria

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Key Requirements PROMPT example:

Trade Finance Agreement

"I need a Trade Finance Agreement for a bilateral facility between our Austrian bank and a medium-sized manufacturing company, with a focus on export letter of credit services and a facility limit of €5 million, to be implemented by March 2025."

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Document background
The Trade Finance Agreement serves as the primary legal framework for establishing and governing trade financing relationships between financial institutions and commercial entities in Austria. This document is essential when businesses require financing for international trade operations, working capital, or trade-related guarantees. The agreement encompasses detailed provisions for various trade finance products, security arrangements, and operational procedures, all structured within the Austrian legal framework, particularly the Banking Act (BWG) and Commercial Code (UGB). It includes comprehensive terms for facility utilization, risk management, compliance requirements, and security arrangements. The Trade Finance Agreement is particularly crucial for businesses engaged in international trade, requiring careful consideration of both Austrian domestic regulations and relevant EU directives governing cross-border financial transactions.
Suggested Sections

1. Parties: Identification of the financial institution(s) and the client(s), including their full legal names, registration details, and addresses

2. Background: Context of the trade finance arrangement, relationship between parties, and general purpose of the agreement

3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules of interpretation

4. Facility Terms: Core terms of the trade finance facility, including type, amount, purpose, and availability period

5. Conditions Precedent: Conditions that must be satisfied before the facility becomes available

6. Utilization Procedures: Process and requirements for drawing down or utilizing the facility

7. Interest and Fees: Interest rates, calculation methods, fees, and charges applicable to the facility

8. Repayment Terms: Terms and schedule for repayment of amounts utilized under the facility

9. Security and Collateral: Security arrangements, including types of collateral and maintenance requirements

10. Representations and Warranties: Statements of fact and assurances given by the client

11. Covenants: Ongoing obligations and restrictions on the client's activities

12. Events of Default: Circumstances constituting default and consequences thereof

13. Payments and Calculations: Payment mechanics, currency provisions, and calculation conventions

14. Changes to Parties: Rules regarding assignment, transfer, and delegation of rights and obligations

15. Notices and Communications: Methods and requirements for formal communications between parties

16. Governing Law and Jurisdiction: Specification of Austrian law as governing law and jurisdiction for disputes

Optional Sections

1. Trade Finance Products: Detailed terms for specific trade finance products (e.g., letters of credit, guarantees) - include when multiple products are offered

2. Electronic Trading Platforms: Terms for use of electronic platforms - include when electronic trading or documentation is part of the arrangement

3. Currency Hedging: Provisions for foreign exchange risk management - include when currency hedging is part of the facility

4. Syndication Provisions: Terms for syndicated facilities - include when multiple lenders are involved

5. Islamic Finance Provisions: Specific provisions for Sharia-compliant trade finance - include when Islamic finance principles apply

6. Agency and Trust Provisions: Terms regarding agent or trustee roles - include in multi-lender facilities

7. Sanctions and Anti-Money Laundering: Detailed compliance requirements - include when dealing with high-risk jurisdictions or products

Suggested Schedules

1. Facility Terms Sheet: Detailed commercial terms including limits, pricing, and specific product parameters

2. Conditions Precedent Documents: List of required documents and evidence to be provided before facility utilization

3. Form of Utilization Request: Standard form for requesting utilization of the facility

4. Security Documents: Forms of security documents and collateral arrangements

5. Fee Schedule: Detailed breakdown of all fees and charges

6. Form of Compliance Certificate: Template for periodic compliance certification

7. Authorized Signatories: List of persons authorized to act on behalf of each party

8. Trade Finance Product Terms: Specific terms and conditions for each trade finance product offered

9. Required Documents: List of documents required for different types of trade transactions

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Acceptance
Account Bank
Additional Cost
Advance Rate
Affiliate
Applicable Law
Authorized Representative
Available Facility
Banking Day
Bill of Exchange
Bill of Lading
Borrower
Business Day
Charged Property
Collection
Commitment
Compliance Certificate
Confidential Information
Confirming Bank
Default
Default Interest
Documentary Credit
Drawing
EMIR
Event of Default
Facility
Facility Limit
Finance Documents
Financial Indebtedness
Financial Statements
Force Majeure
Guarantor
ICC
Import Documentary Credit
Interest Period
Interest Rate
Issuing Bank
Letter of Credit
LIBOR
Margin
Material Adverse Effect
Maturity Date
Negotiating Bank
Obligor
Original Financial Statements
Participating Bank
Party
Permitted Security Interest
Potential Event of Default
Prohibited Person
Qualifying Bank
Quotation Day
Reference Banks
Relevant Jurisdiction
Repayment Date
Repeating Representations
Representative
Required Documents
Sanctions
Screen Rate
Security
Security Documents
Security Interest
Specified Time
Subsidiary
Tax
Trade Finance Documents
Transaction
Transfer Certificate
UCP 600
Unpaid Sum
Utilization
Utilization Date
Utilization Request
Clauses
Facility Terms
Credit Limit
Interest and Fees
Security
Collateral
Conditions Precedent
Representations and Warranties
Covenants
Events of Default
Remedies
Payment Terms
Currency Provisions
Documentation Requirements
Utilization Procedures
Compliance
Anti-Money Laundering
Sanctions
Financial Statements
Reporting Requirements
Confidentiality
Data Protection
Assignment and Transfer
Set-off Rights
Force Majeure
Termination
Amendments
Notices
Governing Law
Dispute Resolution
Jurisdiction
Indemnification
Tax
Costs and Expenses
Electronic Banking
Document Examination
Risk Allocation
Credit Insurance
Product-Specific Terms
Security Agent Provisions
Syndication
Agency Provisions
Calculation and Business Days
Financial Covenants
Information Undertakings
Account Operations
Documentary Credits
Bank Guarantees
Relevant Industries

Banking and Financial Services

International Trade

Manufacturing

Import/Export

Commodities Trading

Retail

Wholesale

Logistics and Supply Chain

Agriculture

Energy

Mining

Textiles

Automotive

Relevant Teams

Legal

Finance

Treasury

Trade Operations

Risk Management

Compliance

Credit

International Banking

Documentary Credits

Corporate Banking

Transaction Banking

Trade Finance Operations

Supply Chain Finance

Relevant Roles

Trade Finance Manager

Corporate Banking Officer

Chief Financial Officer

Treasury Manager

Finance Director

Risk Management Officer

Compliance Officer

Legal Counsel

Documentary Credits Manager

Trade Operations Manager

Credit Risk Officer

Relationship Manager

International Business Development Manager

Supply Chain Finance Manager

Industries
Austrian Civil Code (ABGB - Allgemeines bürgerliches Gesetzbuch): Fundamental law governing contracts, obligations, and civil law matters in Austria. Provides the basic framework for contract formation, performance, and remedies.
Austrian Commercial Code (UGB - Unternehmensgesetzbuch): Regulates commercial transactions and business relationships. Particularly relevant for B2B transactions and commercial contracts.
Austrian Banking Act (BWG - Bankwesengesetz): Governs banking operations and financial services in Austria, including requirements for trade finance activities and banking transactions.
Financial Market Anti-Money Laundering Act (FM-GwG): Establishes requirements for prevention of money laundering and terrorist financing in financial transactions, including trade finance.
EU Regulation 2015/847 on information accompanying transfers of funds: Relevant for international trade finance transactions, establishing requirements for information that must accompany fund transfers.
Austrian Security Interest Laws (Pfandrecht): Governs the creation and enforcement of security interests and collateral arrangements in Austria.
EU Regulation No 648/2012 (EMIR): Relevant for derivatives aspects of trade finance, including reporting obligations and risk management requirements.
Austrian Foreign Exchange Act (Devisengesetz): Regulates foreign exchange transactions and international payments, relevant for cross-border trade finance.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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