The Credit Facility Letter is a fundamental banking document used in Pakistan's financial sector to formalize credit arrangements between financial institutions and borrowers. It is typically issued following a credit approval process and serves as the primary document establishing the lending relationship. The letter must comply with State Bank of Pakistan's prudential regulations, the Banking Companies Ordinance 1962, and other relevant banking laws. The document outlines essential terms including facility limits, pricing, security requirements, and conditions for drawdown. In Pakistan's banking context, Credit Facility Letters may need to incorporate both conventional and Islamic banking principles, depending on the nature of the facility. The document is particularly important as it forms the basis for any future amendments, renewals, or enforcement actions related to the credit facility.
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1. Bank Details and Reference: Bank's letterhead, reference number, and date of the facility letter
2. Borrower Details: Full legal name and address of the borrower
3. Salutation and Introduction: Formal opening and reference to any prior discussions or applications
4. Facility Overview: Brief summary of the approved credit facility
5. Facility Details: Detailed breakdown of each facility type, amounts, and purpose
6. Interest and Fees: Applicable interest rates, markup rates, and all associated fees
7. Repayment Terms: Payment schedule, payment methods, and prepayment conditions
8. Security and Collateral: Details of required security, guarantees, and collateral
9. Conditions Precedent: Conditions that must be satisfied before facility utilization
10. Representations and Covenants: Key promises and ongoing obligations of the borrower
11. Events of Default: Circumstances that would constitute default and consequences
12. Acceptance and Execution: Instructions for acceptance and return of signed facility letter
1. Insurance Requirements: Include when specific insurance coverage is required for the facility or collateral
2. Special Conditions: Include when there are industry-specific or borrower-specific conditions
3. Syndication Terms: Include for syndicated facilities involving multiple lenders
4. Foreign Exchange Provisions: Include when facility involves foreign currency
5. Group Company Provisions: Include when borrower is part of a larger group structure
6. Islamic Banking Provisions: Include when facility is structured as an Islamic banking product
1. Facility Summary Schedule: Detailed breakdown of all facilities, limits, and sub-limits
2. Fee Schedule: Comprehensive list of all applicable fees and charges
3. Security Schedule: Detailed list of security documents and collateral requirements
4. Conditions Precedent Checklist: List of all documents and conditions required before drawdown
5. Standing Instructions Format: Template for standing instructions for repayment
6. Key Terms Schedule: Summary of key financial and operational covenants
7. Drawdown Notice Format: Template for facility utilization requests
Relevant legal definitions
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Banking and Financial Services
Manufacturing
Trading
Real Estate and Construction
Technology and IT
Agriculture
Retail
Healthcare
Energy and Utilities
Telecommunications
Logistics and Transportation
Textiles
Mining and Minerals
Professional Services
Relevant Teams
Legal
Finance
Treasury
Credit Risk
Compliance
Corporate Banking
Operations
Risk Management
Company Secretariat
Commercial Banking
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Financial Controller
Corporate Banking Manager
Credit Risk Manager
Relationship Manager
Legal Counsel
Compliance Officer
Company Secretary
Managing Director
Finance Manager
Credit Analyst
Banking Operations Manager
Risk Management Officer
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