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Funds Flow Memorandum

Funds Flow Memorandum Template for England and Wales

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Key Requirements PROMPT example:

Funds Flow Memorandum

"Need a Funds Flow Memorandum for a multi-party real estate acquisition closing on March 15, 2025, involving three separate bank accounts and an escrow arrangement, with payments in both GBP and EUR."

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Document background
The Funds Flow Memorandum is a crucial document in complex financial transactions governed by English and Welsh law. It serves as a roadmap for the movement of funds, typically used in situations where multiple parties, accounts, and payment steps are involved. The memorandum ensures that all parties understand their roles and responsibilities in the funds transfer process, helping to minimize errors and delays. It includes detailed payment instructions, bank account information, timing requirements, and any conditions that must be met before funds can be transferred. This document is particularly important for compliance with UK financial regulations and creating a clear audit trail.
Suggested Sections

1. Introduction: Date, parties involved, and transaction reference

2. Transaction Overview: Brief summary of the underlying transaction and purpose of funds flow

3. Definitions: Key terms used throughout the memorandum

4. Sources of Funds: Details of where funds are coming from, including account details

5. Payment Instructions: Step-by-step flow of funds, including amounts and timing

6. Bank Account Details: Complete banking information for all relevant accounts

Optional Sections

1. Conditions Precedent: Conditions that must be met before funds flow can commence - used when there are specific prerequisites to funds movement

2. Currency Conversion: Details of any currency exchanges required - used when transaction involves multiple currencies

3. Escrow Arrangements: Details of any escrow mechanisms - used when funds are held in escrow

Suggested Schedules

1. Schedule 1 - Bank Account Details: Detailed banking information including SWIFT codes, account numbers

2. Schedule 2 - Flow Chart: Visual representation of the funds flow process

3. Schedule 3 - Timing Schedule: Detailed timeline of payments and transfers

4. Appendix A - Form of Payment Confirmation: Template for confirming completed payments

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
Clauses
Payment Instructions
Conditions Precedent
Bank Account Details
Payment Mechanics
Timing and Sequencing
Currency Conversion
Payment Confirmations
Notice Requirements
Bank Undertakings
Settlement Instructions
Default Procedures
Contingency Arrangements
Execution Requirements
Authentication Procedures
Funding Obligations
Cut-off Times
Transaction Reconciliation
Escrow Arrangements
Intermediary Banks
Compliance Requirements
Anti-Money Laundering
Documentation Requirements
Representations and Warranties
Governing Law
Jurisdiction
Relevant Industries
Relevant Teams
Relevant Roles
Industries

Financial Services and Markets Act 2000: Primary UK legislation governing financial services regulation, including oversight of financial institutions and market conduct

Companies Act 2006: Core legislation governing company operations and corporate transactions in the UK

Money Laundering Regulations 2017: Regulations detailing requirements for prevention of money laundering and terrorist financing

Proceeds of Crime Act 2002: Legislation dealing with criminal proceeds and money laundering obligations

Banking Act 2009: Legislation governing banking operations and special resolution regime for failed banks

FCA Rules and Regulations: Regulatory framework set by the Financial Conduct Authority for financial services firms

PRA Requirements: Prudential requirements set by the Prudential Regulation Authority for banks and large investment firms

Payment Services Regulations 2017: Regulations governing payment services and payment service providers in the UK

Electronic Money Regulations 2011: Regulations covering the issuance and handling of electronic money

UK Anti-Money Laundering Requirements: Comprehensive framework of AML obligations for financial institutions and businesses

Know Your Customer Regulations: Requirements for customer due diligence and identity verification

Counter-Terrorist Financing Regulations: Measures to prevent and detect terrorist financing activities

FATF Recommendations: International standards for combating money laundering and terrorist financing

Cross Border Payments Regulations: Rules governing international money transfers and cross-border payment services

International Sanctions Regulations: Restrictions on financial transactions with sanctioned countries, entities, or individuals

EU Retained Law: European Union laws retained in UK legislation post-Brexit

SWIFT Regulations: Requirements for international payment messaging and transfer systems

Trustee Act 2000: Legislation governing trustee duties and powers in handling trust property

Client Money Rules (CASS): FCA rules for handling and protecting client money and assets

UK GDPR: UK version of the General Data Protection Regulation governing personal data processing

Data Protection Act 2018: UK's primary data protection legislation implementing and supplementing UK GDPR

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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