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Baft Loan Agreement

On the other hand, when syndicating credit, a borrower concludes a single credit agreement with a group of lenders. This individual credit agreement covers all credit facilities made available to the borrower by the various lenders. Each of the lenders in a syndicated loan has a direct legal and contractual relationship with the borrower. However, in most cases, one of the lenders may act as an agent on behalf of the various lenders who have granted credit to the borrower. Sometimes there may be more than one agent who plays a particular role in the credit agreement, for example.B. one agent could be entrusted with administrative functions related to the credit facility and another agent would be responsible for the obligation to securitize the loan and take guarantees on behalf of the other lenders. Typically, in the case of a syndicated loan, the administrative officer is responsible for managing the loan on behalf of the other lenders, including managing the communication between the borrower and the lenders and the payment of the loan to the borrower. Export credit insurance financing is an insurance credit facility granted by a lender to an exporter and intended to protect the exporter against the risk of non-payment by a foreign importer. Export credit insurance can be short-term or long-term. This financing facility may be transferred to a participant through a framework participation contract.

We have now executed some of them without change and we have made it clear to the counterparties with whom we have negotiated that we want to adopt this mindset. Until now, when we had to conclude a new agreement, it was good and we had a good experience. There are different uses of framework participation agreements, most often related to trade finance. Some of these applications are explained below: the BAFT`s initial framework participation contract was launched in 2008. It is based on English law and should be the standard document for the trading industry in order to facilitate the purchase and sale of trade finance assets worldwide. Established in 1921, the Financial and Trade Bankers Association (BAFT) is an international financial trading association that serves the global financial community. Its members are international financial institutions and companies that actively participate in global and trade finance. Trade credit is an important source of liquidity for global financial institutions to finance the import and export trading activities of their customers.

In the past, terminology, credit structures and supporting documentation varied from region to region. Standardisation and consistency of trade credit documentation contributes to improving the sectoral dialogue between borrowers, lenders, investors and supervisors. The BAFT Trade Finance Documentation Working Group has developed the BAFT MTLA, a bank loan contract to a master`s bank in English law and New York law, with the help of external consultants, in order to provide clear, concise and consistent language for use by the sector. Promoting the introduction of a standard master`s document improves protection, simplifies the process and efficiency of borrowing and granting credit worldwide. BAFT supports its members by publishing and regularly updating the list of countries in which bank-to-bank master negotiation loans have been signed in order to promote sectoral transparency between borrowers and lenders worldwide. The update of the New York ITFA framework agreement is aimed at industry players who only intend to participate in uncovered risk-taking. Among the industry players covered by this agreement are insurance undertakings. .