Documents & Guidelines
The LMA endeavours to keep its documentation under constant review to ensure that it continues to meet the aims and needs of the primary and secondary loan markets. The production of recommended documentation remains one of our most important activities.
Our documentation is produced after extensive consultation with leading loan practitioners and law firms so as to represent an agreed common view of documentation structures. Standardisation of the "boiler plate" areas of the documents allows lenders and borrowers to focus on the more important commercial aspects of individual transactions.
The LMA has updated its confidentiality user guide to clarify the position with regards to exclusion of liability for information supplied to designated parties under the LMA's template confidentiality agreements (the "Confidentiality Agreements"). The amendments are intended to clarify that the Confidentiality Agreements are each designed to be entered into between different parties to a transaction for different purposes, and that, as a result, liability for the accuracy or completeness of any information provided to the receiving party by certain parties may or may not be appropriate.
The LMA is pleased to announce the publication of a recommended template agency details form as part of its ongoing commitment to support operational efficiency initiatives across the market. This template is the result of considerable collaborative work by the LMA Agency Committee and other operations practitioners, and seeks to provide a standard format for communicating key administrative detail. The agency details form is to be used alongside the Global Administrative Details Form published jointly by the LMA and LSTA in May this year. It is hoped that broad based adoption of both these documents will lead to efficiencies in both time and effort in compiling this detail.
The LMA is pleased to announce the launch of a new recommended form of facility agreement for use in export finance buyer credit transactions supported by an export credit agency (the "ECA Buyer Credit Facility").
This video interview with Clare Dawson, Chief Executive of the LMA, and Massimo Schirò, Legal Affairs Director at SACE, considers the new LMA recommended form of ECA Buyer Credit Facility Agreement.
Documentation Conversion Notice
The LMA will be converting its entire documentation suite over the coming months to a docx version of Word. No changes are being made to the drafting of the underlying documents and each document will be uploaded as and when it has been converted and checked. The publication date of each document will not change as a result of the conversion.
If members have any queries about the conversion process, please email email@example.com with the subject heading "Document Conversion Query".
The LMA and LSTA have together launched a standard Administrative Details Form ("ADF") to be used in transactions globally. Whilst not all fields will be relevant to every transaction, it is hoped this template will constitute a market standard for communicating key administrative details.