Complex banking facilities product
Managing facilities from banks and other
funders is often complex and an essential part of an organisation’s
success. In today’s climate, obtaining funding and managing your
relationship with your funders is more important then ever.
We can undertake an annual review of your
banking facilities and provide a report of our recommendations. The
review will flag up amongst other things:
- potential breaches (and how they may be
managed)
- any consents or waivers which may be
required
- any amendments you may need to your
facilities
We will charge £1,000 (exclusive of value
added tax and disbursements) for the review, although this will be
waived in year one.
When it comes to restructuring or negotiating
bank facilities, funders and borrowers find it easier to use the
lawyers who prepared the original documents given their familiarity
with the transaction. In our experience this is not always cost
effective but we understand that using other lawyers at this stage
may increase costs as they spend time getting to know your
business.
We will not charge for the time we spend
getting to know your business and its funding arrangements - we
will only charge for the work we do. We will charge a fixed fee and
agree this with you at the start of any transaction.