Publisher one

Genie AI

Jurisdiction

England and Wales

Contract party

Relevant sectors

Type of legal document

💶 Facility agreement

Business activity

Get an overdraft

Why use a 💶 Facility agreement?

A facility agreement is a type of agreement that is used to provide financing for a company or individual. The agreement outlines the terms of the loan, including the interest rate, repayment schedule, and any collateral that is required. The agreement also outlines the roles and responsibilities of the lender and borrower.

This legal template focuses on an Overdraft Agreement under UK law. An Overdraft Agreement is a contractual arrangement between a bank or financial institution and an individual or business that allows the account holder to withdraw or spend money beyond their available balance, up to a predetermined limit. This agreement outlines the terms and conditions for accessing and using an overdraft facility, including the applicable fees, interest rates, repayment terms, and the consequences of defaulting on the agreement.

The template covers various essential clauses, such as the definition of terms, including "Overdraft Limit," "Interest Rate," "Repayment Terms," and "Overdraft Facility"; the responsibilities and obligations of both the bank and the customer; guidelines for initiation, management, and termination of the overdraft; the process for altering the overdraft limit; any collateral or security requirements; the treatment of accrued interest and charges; the consequences of default or breach of the agreement; dispute resolution mechanisms; and the governing law and jurisdiction.

By utilizing this legal template, both banks and their customers can establish a clear and mutually agreed-upon framework for utilizing an overdraft facility in compliance with UK law. This standardized agreement ensures protection for both parties involved and helps prevent or resolve any disputes that may arise during the course of the overdraft facility usage.

How it works

Create doc / use template

Chat to our AI Legal Assistant

Edit, collaborate & share

Export to .docx

PRODUCT HUNT
#1 Product of the Day

Try using Genie's Free AI Legal Assistant

Generate quality, formatted contracts with AI

Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs

Let our Legal AI make 
edits for you

Ask Genie to edit your document in the same way you’d ask a paralegal. Genie makes track changes, and explains its thinking just like a junior lawyer would.

AI review

Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs

See Genie AI in action

Book your personalised demo now

Schedule a live, interactive demo with a Genie expert
Understand the most valuable features of Genie based on your workflow
Find out exactly how your business will benefit, from hours saved to faster revenue



Click here to book your personalised demo now.

Thank you for requesting a demo. You can book one immediately using the following link if you'd like to: https://bit.ly/GenieAIDemo

If you'd like to, you can now fill in our ROI calculator - you'll get instant results, which we'll use to make your demo even more specific.

Calculate now
Oops! Something went wrong while submitting the form.



Click here to book your personalised demo now.

Similar legal templates

Agreement For Surrender Of Tenancy - Statutory Declaration

The legal template "Agreement For Surrender Of Tenancy - Statutory Declaration under UK law" is a document that outlines the agreement and procedure for surrendering a tenancy under the jurisdiction of UK law. In the context of the British legal framework for rental properties, a tenancy surrender refers to the voluntary termination of a lease agreement between a landlord and tenant.

This template is designed to formalize the process of surrendering a tenancy, ensuring clarity and protection for both parties involved. It may cover various aspects such as the reason for surrender, responsibilities of the landlord and tenant, transfer of possession, any outstanding financial obligations, and the termination date of the tenancy.

Additionally, the template will typically include a statutory declaration, which is a legally binding statement made under oath. In this context, it serves as a formal statement by either the tenant or the landlord, confirming their understanding and agreement to terminate the tenancy. This declaration may be required to comply with specific legal procedures or for evidentiary purposes if any disputes arise in the future.

Overall, the "Agreement For Surrender Of Tenancy - Statutory Declaration under UK law" template aims to provide a structured and legally compliant framework for both the tenant and landlord to agree upon the voluntary termination of a tenancy, ensuring a smooth and documented process for all parties involved.
Read More

Publisher

Genie AI

Jurisdiction

England and Wales
TEMPLATE
USED BY
8
RATINGS
2
DISCUSSIONS
2

Agreement For Surrender Of Tenancy (Simple Declaration)

The legal template for "Agreement for Surrender of Tenancy (Simple Declaration)" under UK law serves as a document outlining the voluntary termination of a tenancy agreement between a landlord and a tenant. This template may be used to formalize the agreement when both parties mutually agree to end the tenancy before the agreed-upon termination date specified in the original tenancy agreement. It outlines the terms and conditions agreed upon by both parties, ensuring a smooth and lawful process for surrendering the tenancy. This template is designed to comply with UK laws and regulations, providing clarity and legal protection for both the landlord and the tenant.
Read More

Publisher

Genie AI

Jurisdiction

England and Wales
TEMPLATE
USED BY
7
RATINGS
4
DISCUSSIONS
1

Loan Agreement To Purchase A Second-Hand Ship - Precedent Conditions

This legal template is a Loan Agreement specifically designed for the purchase of a second-hand ship. The template is tailored to meet the requirements and regulations under UK law. A Loan Agreement is a legally binding contract between the lender and borrower, establishing the terms and conditions of a loan. In the context of this specific agreement, it outlines the terms under which a loan is granted to finance the purchase of a previously owned ship.

The template typically includes provisions related to the loan amount, interest rate, repayment terms, and collateral, as well as any additional conditions that may be specific to the purchase of a second-hand ship. It may also include clauses relating to the inspection and acceptance of the ship, and any warranties or guarantees associated with its condition and ownership.

The Loan Agreement serves to protect the interests of both parties involved. It ensures that the borrower understands their obligations regarding the loan repayment and any accompanying fees or penalties. At the same time, it provides the lender with assurance that their investment is protected and that they have the legal means to pursue repayment in case of default or non-compliance.

By utilizing this legal template, parties involved in financing the purchase of a second-hand ship can establish a clear and comprehensive agreement that aligns with the legal standards in the UK. This template minimizes the risk of misunderstandings, disputes, or potential legal complications that may arise from a lack of clarity or non-compliance with applicable laws and regulations.
Read More

Publisher

Genie AI

Jurisdiction

England and Wales
TEMPLATE
USED BY
10
RATINGS
3
DISCUSSIONS
0