The Bank Facilities Letter is a crucial document in Belgian banking practice, used when a bank approves credit facilities for its customers. It serves as the primary documentation for various types of banking facilities, including term loans, overdrafts, and revolving credit facilities. The letter must comply with Belgian banking regulations, including the Belgian Banking Law of 2014 and relevant EU directives, while incorporating necessary consumer protection measures. It typically follows a standard format that includes key commercial terms, conditions precedent, ongoing obligations, and security requirements. The document becomes legally binding upon acceptance by the borrower and forms the foundation of the banking relationship. It's particularly important in the Belgian context due to specific local law requirements regarding financial services, consumer protection, and banking supervision.
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1. Letter Header: Bank's letterhead, date, reference number, and addressee details
2. Facility Overview: Brief introduction stating the purpose of the letter and confirmation of facility approval
3. Borrower Details: Full legal name, registration number, and address of the borrower
4. Facility Type and Amount: Clear statement of the type of facility and the approved amount
5. Key Commercial Terms: Interest rate, fees, tenor, and repayment terms
6. Conditions Precedent: List of documents and conditions required before facility utilization
7. Representations and Warranties: Key statements about the borrower's status and capacity
8. Undertakings: Key ongoing obligations of the borrower
9. Events of Default: Circumstances under which the bank can cancel the facility
10. Acceptance Section: Space for borrower's acknowledgment and acceptance of terms
1. Security Arrangements: Required when the facility is secured - details of collateral and security documents
2. Financial Covenants: Include when specific financial ratios or tests need to be maintained
3. Purpose: Required when the facility is for a specific purpose only
4. Drawdown Mechanics: Include for facilities with multiple drawdown options
5. Insurance Requirements: Required when specific insurance coverage is mandatory
6. Group Structure: Include when facility is part of wider group arrangements
7. Hedging Requirements: Required when interest rate or currency hedging is mandatory
1. Schedule 1 - Standard Terms and Conditions: Detailed terms and conditions applying to all facilities
2. Schedule 2 - Fees and Charges: Detailed breakdown of all applicable fees and charges
3. Schedule 3 - Conditions Precedent: Detailed list of required documentation and conditions
4. Schedule 4 - Form of Drawdown Notice: Standard form for requesting utilization of the facility
5. Schedule 5 - Compliance Certificate: Template for periodic compliance reporting
6. Appendix A - Definitions: Definitions of key terms used in the facility letter
7. Appendix B - Calculation of Financial Covenants: Detailed methodology for calculating financial ratios
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Manufacturing
Retail
Real Estate
Technology
Healthcare
Energy
Infrastructure
Transportation
Agriculture
Telecommunications
Professional Services
Construction
Hospitality
Relevant Teams
Legal
Finance
Treasury
Compliance
Risk Management
Corporate Banking
Credit Administration
Business Development
Operations
Senior Management
Company Secretariat
Relationship Management
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Financial Controller
Corporate Lawyer
Legal Counsel
Relationship Manager (Bank)
Credit Officer
Risk Manager
Company Secretary
Managing Director
Business Development Manager
Account Manager (Bank)
Compliance Officer
Financial Analyst
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