The Finance Agreement is a crucial document used in South African financial transactions to formalize lending arrangements between financial institutions and borrowers. It must comply with strict regulatory requirements, particularly the National Credit Act 34 of 2005, the Financial Intelligence Centre Act, and other relevant financial sector legislation. This agreement is essential when providing credit facilities, term loans, revolving credit facilities, or other financing arrangements. It includes comprehensive details about the facility amount, purpose, interest calculations, repayment terms, security arrangements, representations and warranties, and events of default. The document incorporates mandatory consumer protection provisions and requires specific disclosure statements as prescribed by South African law. It's designed to protect both the lender's interests in securing repayment and the borrower's rights under consumer protection legislation.
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1. Parties: Identification and details of the Finance Provider and the Borrower/Customer
2. Background: Context of the agreement and purpose of the finance facility
3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement
4. The Facility: Details of the credit facility, including amount, purpose, and availability
5. Interest and Fees: Interest rate calculations, applicable fees, and charges
6. Repayment Terms: Repayment schedule, method of payment, and early repayment provisions
7. Conditions Precedent: Conditions that must be met before the facility becomes available
8. Representations and Warranties: Statements of fact and assurances given by the borrower
9. Borrower Covenants: Ongoing obligations and undertakings of the borrower
10. Events of Default: Circumstances constituting default and consequential rights of the lender
11. Security: Details of any security or collateral provided for the facility
12. General Provisions: Standard clauses including notices, amendments, governing law, and jurisdiction
1. Guarantees: Required when third-party guarantees are provided for the facility
2. Insurance Requirements: Included when specific insurance coverage is required for the financed asset
3. Special Drawdown Conditions: Used for facilities with multiple drawdown periods or special conditions
4. Financial Covenants: Required for corporate borrowers where financial ratios must be maintained
5. Agency and Security Trustee Provisions: Needed for syndicated facilities or where security is held by a trustee
6. Tax Provisions: Detailed tax clauses required for large corporate facilities or cross-border transactions
1. Repayment Schedule: Detailed breakdown of repayment dates and amounts
2. Fee Schedule: Comprehensive list of all applicable fees and charges
3. Security Details: Specific details of all security/collateral provided
4. Conditions Precedent Documents: List of required documents and conditions to be satisfied
5. Drawdown Notice Form: Template for requesting disbursement of funds
6. Compliance Certificate: Template for periodic compliance reporting
7. Pre-Agreement Statement and Quotation: National Credit Act mandatory disclosure document
Relevant legal definitions
Clauses
Interpretation
Facility Terms
Interest
Fees and Charges
Repayment
Security
Conditions Precedent
Representations and Warranties
Covenants
Information Undertakings
Financial Covenants
Events of Default
Remedies
Payment Provisions
Set-off
Tax Gross-up
Increased Costs
Indemnities
Costs and Expenses
Guarantee
Assignment and Transfer
Amendments and Waivers
Notices
Calculations and Certificates
Partial Invalidity
Confidentiality
Data Protection
Anti-Money Laundering
Force Majeure
Governing Law
Dispute Resolution
Jurisdiction
Counterparts
Electronic Execution
Facility Terms
Interest
Fees and Charges
Repayment
Security
Conditions Precedent
Representations and Warranties
Covenants
Information Undertakings
Financial Covenants
Events of Default
Remedies
Payment Provisions
Set-off
Tax Gross-up
Increased Costs
Indemnities
Costs and Expenses
Guarantee
Assignment and Transfer
Amendments and Waivers
Notices
Calculations and Certificates
Partial Invalidity
Confidentiality
Data Protection
Anti-Money Laundering
Force Majeure
Governing Law
Dispute Resolution
Jurisdiction
Counterparts
Electronic Execution
Relevant Industries
Banking and Financial Services
Real Estate
Manufacturing
Retail
Mining
Agriculture
Technology
Healthcare
Construction
Transportation and Logistics
Energy and Utilities
Telecommunications
Relevant Teams
Legal
Finance
Compliance
Risk Management
Treasury
Credit
Corporate Banking
Operations
Business Development
Company Secretariat
Relevant Roles
Chief Financial Officer
Finance Director
Legal Counsel
Compliance Officer
Credit Manager
Risk Manager
Treasury Manager
Financial Controller
Corporate Banker
Relationship Manager
Credit Analyst
Legal Director
Company Secretary
Financial Manager
Business Development Manager
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