A Bank Facilities Letter is a crucial banking document used when a financial institution offers credit facilities to a customer in Malta. This document serves as both a formal offer letter and a binding agreement once accepted, detailing all essential aspects of the banking facility including credit limits, interest rates, security requirements, and operational conditions. The letter must comply with Maltese banking regulations, particularly the Banking Act (Chapter 371) and related financial services legislation. It is typically used for new facility offerings, renewal of existing facilities, or amendments to current banking arrangements. The document needs to balance commercial practicality with regulatory compliance, incorporating both Maltese banking law requirements and the bank's risk management policies.
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1. Bank Details and Date: Full bank name, address, and date of the letter
2. Customer Details: Full name and address of the customer/borrower
3. Facility Summary: Brief overview of the type and amount of facility being offered
4. Facility Terms: Detailed terms including amount, purpose, interest rate, and duration
5. Security Requirements: Details of any security or collateral required
6. Fees and Charges: Breakdown of all applicable fees, charges, and commissions
7. Conditions Precedent: Conditions that must be satisfied before the facility becomes available
8. Representations and Warranties: Standard declarations about the customer's status and capacity
9. Undertakings: Ongoing obligations of the customer during the facility period
10. Events of Default: Circumstances that would trigger default and bank's remedies
11. Acceptance Section: Space for customer's acknowledgment and acceptance of terms
1. Regulatory Disclosures: Additional disclosures required for retail customers under Maltese consumer protection laws
2. Foreign Exchange Provisions: Required if the facility is in a currency other than Euro
3. Group Company Provisions: Required if the borrower is part of a corporate group
4. Insurance Requirements: Detailed insurance requirements for specific types of facilities
5. Property Related Conditions: Required for property-backed facilities
6. Trading Facility Terms: Required for trade finance or similar specialized facilities
7. Syndication Provisions: Required if the facility is or may be syndicated
8. Green Loan Provisions: Required for environmentally-linked facilities
1. Facility Summary Schedule: Detailed breakdown of all facility limits and sub-limits
2. Fee Schedule: Detailed breakdown of all fees and charges
3. Security Schedule: List and details of all security documents required
4. Conditions Precedent Schedule: Detailed list of all required conditions precedent documents
5. Interest Rate Schedule: Detailed breakdown of interest calculation methodology
6. Standard Terms and Conditions: Bank's standard terms and conditions referenced in the letter
7. Required Forms: Standard forms for drawdown requests and other communications
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