- Intermediate/Introductory * 5 hours CPD
With the difficulties presented by credit crunch in the current economic climate it is essential that all those advising finance and lending businesses, as well as those acting for businesses, understand the options with regard for security for lending, as well as the enforcement process. This course examines practice and procedure in relation to debentures, guarantees, performance bonds and letters of credit.
- Credit risk
- Effect of taking security
- Types of security
- Perfection
- Form of debenture: Covenant to pay; Charging clause; Covenants; Lender protections; Powers of lender; Enforcement
- Reviewable transactions
- Nature: Common law guarantee; Indemnity
- Legal issues: Corporate benefit; Financial assistance; Unfair Contract Terms Act 1977
- Form of guarantee: Lender protections; Termination
- Guarantees by individuals
- Performance Bonds and Letter of Credit
- Comfort Letters