Banks frequently require their borrowers or guarantors to obtain independent legal advice on the meaning of security documents that they are required to sign, for example, in relation to the purchase of shares, borrowing of new or additional business funding, or permitting personal assets to be used as security for business lending.
Other forms of security documents are regularly required by banks including charges over property and debentures.
We have a thorough understanding of these transactions and are familiar with lending and guarantee documents. Understanding how these documents work enables us to explain their full impact to you and to make clear the full extent of your risk.
If, after receiving our advice, you choose to sign the documents, banks then ask us to confirm that we have given you full and detailed advice and that you have understood your obligations and potential exposure.