Document background
The Pro Forma Credit Agreement serves as a standardized template for documenting credit arrangements in Australia, designed to comply with the National Consumer Credit Protection Act 2009 and other relevant financial services legislation. It is typically used when establishing new credit facilities between financial institutions and borrowers, whether for corporate, commercial, or consumer lending purposes. The document encompasses all essential elements required by Australian law, including responsible lending obligations, disclosure requirements, and consumer protections. It provides a comprehensive framework that can be customized based on specific transaction requirements while ensuring regulatory compliance. The agreement includes provisions for facility terms, drawdown mechanisms, security arrangements, representations and warranties, undertakings, and events of default, all tailored to the Australian legal and regulatory environment.
