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Short Term Credit Agreement

Short Term Credit Agreement Template for Switzerland

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Key Requirements PROMPT example:

Short Term Credit Agreement

"I need a Swiss law Short Term Credit Agreement for a CHF 2 million secured facility between ABC Bank AG as lender and XYZ Manufacturing GmbH as borrower, with a 9-month term starting March 1, 2025, secured against the borrower's inventory and receivables."

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Document background
The Short Term Credit Agreement is commonly used in Switzerland when businesses or individuals require temporary financing for working capital, bridge financing, or specific short-term projects. This document is structured to comply with Swiss financial regulations, including the Swiss Code of Obligations and Federal Act on Consumer Credit where applicable. It outlines crucial elements such as facility amount, interest rates, repayment terms, conditions precedent, and events of default. The agreement is particularly important in the Swiss market where short-term lending is a crucial component of business financing, especially for SMEs and corporations requiring temporary liquidity support. The document typically covers credit periods up to 12 months and can be adapted for various security arrangements and borrower types while maintaining compliance with Swiss banking and financial services regulations.
Suggested Sections

1. Parties: Identification of the lender and borrower with full legal names and addresses

2. Background: Brief context of the credit facility and purpose of the loan

3. Definitions: Key terms used throughout the agreement

4. The Facility: Details of the credit amount, purpose, and availability period

5. Interest: Interest rate, calculation method, and payment dates

6. Repayment: Terms and schedule of repayment, including early repayment provisions

7. Conditions Precedent: Conditions that must be satisfied before drawdown

8. Representations and Warranties: Standard declarations by the borrower about their status and capacity

9. Undertakings: Borrower's ongoing obligations during the term of the facility

10. Events of Default: Circumstances that would trigger default and remedies

11. Costs and Expenses: Allocation of fees, costs, and expenses

12. Notices: Communication methods and contact details

13. Governing Law and Jurisdiction: Confirmation of Swiss law application and jurisdiction

Optional Sections

1. Security: Required if the credit facility is secured by any assets or guarantees

2. Guarantee: Needed if a third-party guarantor is involved

3. Insurance: Required if specific insurance coverage is mandatory for the facility

4. Tax Provisions: Detailed tax clauses if cross-border elements exist

5. Assignment and Transfer: Include if either party needs the right to transfer their rights/obligations

6. Break Costs: Required for facilities with fixed interest periods

7. Financial Covenants: Include if specific financial metrics must be maintained

Suggested Schedules

1. Conditions Precedent: Detailed list of required documents and conditions

2. Form of Drawdown Request: Template for borrower to request facility disbursement

3. Repayment Schedule: Detailed payment dates and amounts if installment repayment

4. Form of Compliance Certificate: Template for periodic confirmation of compliance with terms

5. Security Details: If applicable, detailed description of security arrangements

6. Fee Schedule: Breakdown of all applicable fees and charges

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Availability Period
Banking Day
Borrower
Break Costs
Business Day
Commitment
Conditions Precedent
Default
Default Interest
Drawdown
Drawdown Date
Drawdown Request
Event of Default
Facility
Facility Amount
Final Maturity Date
Finance Documents
Financial Indebtedness
Interest Payment Date
Interest Period
Interest Rate
Lender
Material Adverse Effect
Outstanding Amount
Parties
Permitted Purpose
Potential Default
Prepayment
Relevant Jurisdiction
Repayment Date
Repayment Schedule
Security
Security Documents
Swiss Francs
Tax
Tax Deduction
Utilization
VAT
Relevant Industries

Banking

Financial Services

Manufacturing

Retail

Real Estate

Technology

Healthcare

Construction

Energy

Agriculture

Hospitality

Transportation

Import/Export

Professional Services

Relevant Teams

Legal

Finance

Treasury

Compliance

Risk Management

Corporate Banking

Credit Analysis

Operations

Corporate Finance

Banking Operations

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Legal Counsel

Compliance Officer

Credit Risk Manager

Relationship Manager

Corporate Banking Officer

Financial Controller

Credit Analyst

Legal Director

Banking Operations Manager

Risk Management Officer

Corporate Finance Manager

Loan Officer

Industries
Swiss Code of Obligations (OR/CO): The fundamental law governing contracts and obligations in Switzerland, particularly Articles 312-318 on loans and credit agreements
Federal Act on Consumer Credit (KKG/LCC): Regulates consumer credits, including mandatory provisions on form requirements, interest rates, and consumer protection measures
Swiss Banking Act (BankG/LB): Relevant if the lender is a bank or financial institution, governing banking activities and licensing requirements
Federal Act on Combating Money Laundering (AMLA): Contains provisions on due diligence and documentation requirements for financial transactions
Federal Act on Debt Enforcement and Bankruptcy (SchKG/LP): Relevant for enforcement mechanisms and procedures in case of default
Swiss Civil Code (ZGB/CC): Contains general principles of Swiss private law and provisions on legal capacity and agency
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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