The Credit Facility Letter To Customer is a fundamental banking document used in Malaysia when a financial institution extends credit facilities to customers, whether individuals or businesses. It is issued after internal credit approval and must comply with Bank Negara Malaysia's guidelines and the Financial Services Act 2013. The document serves multiple purposes: it formally offers the approved facility, details all terms and conditions, includes mandatory regulatory disclosures, and transforms into a binding agreement upon the customer's acceptance. The letter typically covers facility amount, interest rates, tenure, security requirements, conditions precedent, and events of default, while incorporating necessary consumer protections required under Malaysian banking regulations. It's essential for establishing clear terms and ensuring regulatory compliance in Malaysian banking transactions.
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1. Bank's Details and Reference: Letterhead with bank's details, reference numbers, and date
2. Customer's Details: Full name, registration/identification number, and address of the borrower
3. Facility Type and Amount: Clear statement of the type of facility being offered and the approved amount
4. Key Terms and Conditions: Interest rate, tenure, purpose, availability period, and repayment terms
5. Fees and Charges: All applicable fees, charges, and commission
6. Conditions Precedent: Prerequisites that must be fulfilled before the facility can be utilized
7. Representations and Warranties: Standard declarations about the customer's legal status and capacity
8. Events of Default: Circumstances that would constitute default and their consequences
9. Regulatory Disclosures: Mandatory disclosures required by Bank Negara Malaysia
10. Acceptance Section: Space for customer's acknowledgment and acceptance of the terms
1. Security Requirements: Required when the facility is secured - details of collateral, guarantees, or other security arrangements
2. Insurance Requirements: Needed when insurance coverage is required for the facility or security
3. Special Conditions: For any facility-specific conditions or requirements
4. Trade Finance Terms: Required for trade finance facilities, including specific terms for LC, trust receipts, etc.
5. Foreign Exchange Provisions: Needed when the facility involves foreign currency
6. Shariah Compliance: Required for Islamic banking facilities
7. Group Structure Requirements: Needed when the borrower is part of a corporate group
8. Project Specific Terms: Required for project financing facilities
1. Schedule 1 - Facility Details: Detailed breakdown of facility limits, sub-limits, and pricing
2. Schedule 2 - Security Details: Comprehensive list and description of security arrangements
3. Schedule 3 - Conditions Precedent Checklist: Detailed list of documents and conditions to be fulfilled
4. Schedule 4 - Fee Schedule: Detailed breakdown of all fees and charges
5. Appendix A - Standard Terms and Conditions: Bank's standard terms and conditions referenced in the letter
6. Appendix B - Drawdown Notice Format: Template for drawdown requests
7. Appendix C - Compliance Certificate Format: Template for periodic compliance certification if required
8. Appendix D - Financial Covenants: Detailed financial ratios and requirements to be maintained
Relevant legal definitions
Availability Period
Bank
Banking Day
Base Lending Rate
Borrower
Conditions Precedent
Default Interest Rate
Drawdown
Drawdown Notice
Effective Date
Event of Default
Facility
Facility Amount
Financial Indebtedness
Financial Statements
Interest Period
Interest Rate
Legal Charge
Material Adverse Effect
Maturity Date
Principal
Property
Repayment Date
Ringgit Malaysia
Security
Security Documents
Security Interest
Security Party
Tenure
Transaction Documents
Bank
Banking Day
Base Lending Rate
Borrower
Conditions Precedent
Default Interest Rate
Drawdown
Drawdown Notice
Effective Date
Event of Default
Facility
Facility Amount
Financial Indebtedness
Financial Statements
Interest Period
Interest Rate
Legal Charge
Material Adverse Effect
Maturity Date
Principal
Property
Repayment Date
Ringgit Malaysia
Security
Security Documents
Security Interest
Security Party
Tenure
Transaction Documents
Clauses
Facility Terms
Interest and Fees
Repayment
Security
Conditions Precedent
Representations and Warranties
Covenants
Events of Default
Payment Mechanics
Assignment and Transfer
Confidentiality
Notices
Governing Law
Dispute Resolution
Force Majeure
Indemnity
Set-Off
Amendment and Waiver
Severability
Entire Agreement
Data Protection
Anti-Money Laundering
Islamic Banking Compliance
Currency
Financial Covenants
Information Undertakings
Security Enforcement
Insurance
Cross Default
Acceleration
Interest and Fees
Repayment
Security
Conditions Precedent
Representations and Warranties
Covenants
Events of Default
Payment Mechanics
Assignment and Transfer
Confidentiality
Notices
Governing Law
Dispute Resolution
Force Majeure
Indemnity
Set-Off
Amendment and Waiver
Severability
Entire Agreement
Data Protection
Anti-Money Laundering
Islamic Banking Compliance
Currency
Financial Covenants
Information Undertakings
Security Enforcement
Insurance
Cross Default
Acceleration
Relevant Industries
Banking and Financial Services
Corporate and Commercial
Real Estate and Construction
Manufacturing
Trading and Distribution
Agriculture
Technology and Communications
Healthcare
Education
Retail
Hospitality and Tourism
Transportation and Logistics
Relevant Teams
Legal
Credit
Compliance
Risk Management
Corporate Banking
Retail Banking
Operations
Finance
Treasury
Documentation
Commercial Banking
Relevant Roles
Relationship Manager
Credit Officer
Legal Counsel
Compliance Officer
Risk Manager
Branch Manager
Credit Analyst
Banking Operations Manager
Corporate Banking Manager
Chief Financial Officer
Finance Manager
Company Secretary
Treasury Manager
Financial Controller
Business Development Manager
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