Financier Definition

GLOSSARY

Published by a ��Ӱ�� Banking & Finance expert

What does Financier mean?

generic term for receivables financier, asset based lenders or other types of lenders.

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Payment Services Directive 2 (PSD2) and Payment Services Regulations 2017 (PSRs 2017)—timeline

Payment Services Directive 2 (PSD2) and Payment Services Regulations 2017 (PSRs 2017)—timeline The first Payment Services Directive (2007/64/EC) (PSD1) came into force on 25 December 2007 and was required to be implemented by Member States by 1 November 2009. PSD1 was implemented in the UK through the Payment Services Regulations 2009, SI 2009/209 (PSRs). PSD1 was intended to regulate payment service providers (PSPs) and harmonise the payments sector within the European Union (EU). However, advances in payment systems outstripped the regulatory capacity of PSD1 and, in July 2013, the European Commission (Commission) introduced a proposal for a second Payment Services Directive (PSD2). PSD2 (Directive 2015/2366) entered into force on 13 January 2016. Most of its provisions had to be implemented by Member States by 13 January 2018. PSD2 incorporated and repealed PSD1. PSD2 aimed to improve on PSD1 by, among other things: • increasing its scope so that it no longer includes only PSPs within the EU and the European Economic Area (EEA) • focusing on consumer protection...

Deferred Prosecution Agreements entered into to date—checklist

Deferred Prosecution Agreements entered into to date—checklist A Deferred Prosecution Agreement (DPA) is a voluntary agreement between an organisation and a designated prosecutor which enables the prosecutor to defer a criminal prosecution by staying an indictment on specific terms agreed with the organisation (see Practice Note: Deferred prosecution agreements). It is therefore a means of alternative disposal for criminal offences. It involves the: • prosecutor inviting the organisation to enter negotiations for a DPA • organisation agreeing to comply with a range of terms and conditions which are monitored • prosecutor agreeing to start but then halt criminal proceedings for the alleged offence • prosecutor applying to the court for approval of the DPA No proceedings in relation to the matters covered by the DPA may be instituted against the organisation while the DPA remains in force and is complied with. Should the organisation breach the terms of the DPA, the prosecutor may apply to the court to restart the original criminal prosecution. DPAs are only available to organisations in...

Finance party default—lenders

It isn’t only borrowers that can get into financial difficulties. Failure by a lender to meet its lending commitments under a loan agreement could have severe implications for the borrower, who may not be able to meet its own financial commitments. It is also likely to have knock on effects for other lenders who may find the borrower’s ability to make repayments is impacted.The Loan Market Association’s (LMA) recommended form of senior multicurrency term and revolving facilities agreement (compounded rate/term rate) for leveraged acquisition finance transactions (LMA leveraged facilities agreement), and the other LMA leveraged finance facilities agreements, contain provisions to help counteract some of the potential problems that may arise on syndicated facilities in the event that a finance party is at risk of not meeting its obligations. While the LMA recommended forms of investment grade documentation do not include the provisions, parties may decide to include them in other syndicated facility agreements. The standard form documentation is available to LMA members on the LMA website.Only a small proportion...

Getting the Deal Through: Aviation Finance & Leasing 2023

Getting the Deal Through: Aviation Finance & Leasing 2023 Jurisdictions covered The following jurisdictions are covered in this report: Austria; Belgium; Brazil; British Virgin Islands; Canada; Egypt; Germany; India; Indonesia; Israel; Italy; Japan; Latvia; Lithuania; Malta; Netherlands; Nigeria; Spain; Sweden; Switzerland; United Arab Emirates; United Kingdom - England & Wales; USA Questions The set of questions relating to the topic of Aviation Finance & Leasing and answered by the guide for each jurisdiction covered include: • To which major air law treaties is your state a party? • What is the principal domestic legislation applicable to aviation finance and leasing? • Are there any restrictions on choice-of-law clauses in contracts to the transfer of interests in or creation of security over aircraft? If parties are not free to specify the applicable law, is the law of the place where the aircraft is located or where it is registered the relevant applicable law? • How is title in an aircraft transferred? • What are the formalities for...

Discover our 83 Practice Notes on Financier

Asset purchase agreement—administration sale

Asset purchase agreement—administration sale This Agreement is made on [insert day and month] 20[insert year] Parties 1 [Insert name of company in administration] (in administration) a company incorporated in [England and Wales OR [insert country of incorporation]] with registered number [insert company number] and with registered office at [insert address] (the Seller), acting by its [joint] Administrator(s) 2 [Insert name of administrator(s)] of [insert name of firm] whose registered office is at [insert address of firm](the Administrator(s)) 3 [insert name of purchasing corporate entity] a company incorporated in [England and Wales OR [insert country of incorporation]] with registered number [insert company number] with registered office address at [insert address] (the Buyer), and each of the Seller Administrator(s) and the Buyer being a Party and together the Seller Administrator(s) and the Buyer are the Parties. background (A) [insert name of floating charge holder] (the Floating Charge Holder) is the holder of a qualifying floating charge created by the Seller on [insert date of...

Literary rights option agreement

Literary rights option agreement This Agreement is made on [insert date] between the following parties (each a ‘party’ and together the ‘parties’): Parties 1 [insert Company name] a company incorporated in England and Wales whose registered number is [insert Company number] and whose registered office is at [insert registered office] (the Company); and 2 [insert Author name] of [address] (the Author). Background (A) The Author is the owner of the worldwide copyright in the literary work published by [name] entitled [title] (the Work). (B) The Author has agreed to option and, conditional upon exercise of the option, to assign to the Company certain rights in and to the Work subject to the conditions and for the consideration set out in this Agreement. The parties agree: 1 Definitions and interpretation 1.1 Words shall have the meanings given to them in this Agreement, including: Act • means the Copyright, Designs and Patents Act 1988; Final Budget • means the above and below the line production budget of...

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How can a potential purchaser ensure that property which was purchased by way of Islamic finance is conveyed free of the interests of the seller, the bank and the trust?

How can a potential purchaser ensure that property which was purchased by way of Islamic finance is conveyed free of the interests of the seller, the bank and the trust? The answer to this Q&A depends upon which financing structure was employed when the seller acquired the property. See Practice Note: Islamic finance standard documentation in the context of real estate finance transactions for an explanation of the most common structures. You may also find HM Land Registry Practice Guide 69 Islamic finance helpful. If the lending structure is the ‘Ijara wa Iqtina’ or ‘Musharaka’ (assuming that neither has come to an end), the Islamic financier is likely to be the registered proprietor of the freehold, with the seller holding a lease of the property. A subsequent buyer will require a transfer from the financier, with

Pre-letting agreement where tenant cannot recover VAT and might meet partial cost of works—might a VAT option to tax be disapplied and how can the agreement for lease be structured to minimise risk?

Pre-letting agreement where tenant cannot recover VAT and might meet partial cost of works—might a VAT option to tax be disapplied and how can the agreement for lease be structured to minimise risk? Consequences of disapplication of a VAT option to tax If a VAT option to tax is disapplied, it makes the transaction exempt from VAT, which means that the landlord/developer cannot recover VAT related to the property (eg VAT paid on the purchase price and VAT paid in connection with works). This is particularly serious for a developer, as it may be unable to recover any input tax paid in respect of the construction/refurbishment of the building. See Q&A: In which circumstances might a VAT option to tax be disapplied and what are the consequences in a property transaction? for a summary of the circumstances in which a VAT option may be disapplied. The issue in respect of tenant requested modifications (TRMs) in an agreement for lease This will not be an issue if the tenant can...

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Businesses should expect a role in tackling fraud next year

Law360, London: If one word sums up a key trend in financial crime enforcement in 2024, it would be fraud, specifically consumer fraud.

Risk & Compliance weekly highlights—28 November 2024

This week's edition of Risk & Compliance weekly highlights includes: the new Risk & Compliance forecast, the latest sanctions news, the launch of a bribery investigation into defence firm Thales by the SFO and INTERPOL’s successful global operation against financial cybercrime.

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