Document background
The Common Loan Agreement is a fundamental financing document used in Australian business and commercial transactions to establish legally binding lending arrangements between parties. This agreement type is suitable for various lending scenarios, from straightforward bilateral loans to more complex syndicated facilities. The document incorporates all essential elements required under Australian law, including National Consumer Credit Protection Act 2009 compliance, ASIC requirements, and relevant banking regulations. It typically covers loan terms, conditions precedent, representations and warranties, covenants, events of default, and enforcement rights. The Common Loan Agreement can be customized to accommodate different security arrangements, guarantees, and special purpose provisions while maintaining compliance with Australian legal requirements and market practice.
