Subscriptions
Criteria for membership
There are two types of LMA membership: Full and Associate. Full Members must be financial institutions and are likely to be loan arrangers, traders and other active participants in the loan market. Associate Members are likely to be law firms, rating agencies, accountancy firms, smaller financial institutions and other professionals with an interest in the market. Membership is not open to individuals.
After maintaining member subscription rates unchanged for over 10 years, the LMA has decided that an increase will be necessary for the 2010 calendar year. Over recent years, the services provided by the LMA to its members have increased in all areas, particularly in relation to the library of documents and educational activities. This wider level of activity requires ever-increasing resources, which has led to the decision to raise the subscription levels.
It has also been decided to introduce a new category of UK Associate Member, namely Associate with UK office – Law Firm, and that members in this category should pay slightly more than other UK Associate Members. The rationale for this is that, whereas in the early days of the LMA, the documentation produced related to the secondary market and was intended as a tool for bank members, the LMA has now produced a comprehensive suite of loan documentation for the primary loan market, covering the entire process from initial term sheet through to trading. For law firms, this represents an extremely cost-effective tool for use in their banking and finance practices.
Subscription fees
Membership runs from 1 January to 31 December of each year and the full year's subscription fee must be paid whenever an institution joins.
Membership categories and benefits
| Associate |
|
With UK office - law firm
With UK office - other |
£9,000 pa inclusive of VAT
£8,000 pa inclusive of VAT |
| Without UK office |
£6,000 pa |
| Associate Members can access all LMA documentation, the website, education and training events, newsletters, and may apply to join appropriate committees. |
|
| Full |
£13,000 pa inclusive of VAT |
In addition to the above benefits, Full Members have:
- Eligibility for Board Membership
- Voting rights at the AGM
- The option to nominate an Alternate Representative
- One free place at documentation training events
- Higher allocation of places at heavily subscribed events
If your organisation is interested in applying for LMA membership please go to Join the LMA.