Claiming Back Your VAT

All attendees of a London based course incur VAT as a part of the cost of attendance.

Euromoney Learning have partnered with VAT IT to allow you the unique opportunity to recoup the VAT incurred.

Using VAT IT's extensive experience and simple sign-up and refund process, every invoice can be turned into cash for your business.


Claim the VAT that's rightfully yours in four simple steps:

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Why choose VAT IT 

VAT IT have spent two decades identifying, researching and perfecting the foreign VAT Reclaim process and built the best back end technology in the industry. By partnering with Euromoney Learning, we can provide you with a fast and effective way to reclaim your VAT which helps reduce the cost of your training.

VAT IT will charge a percentage of the VAT refund if/when it is successful. 


Can I claim back the VAT myself?

You can claim back VAT directly from the UK Tax Authority (HMRC) by completing the following form. 
For European clients, please refer to form VAT 65
All other clients, please refer to form VAT 65A.

 

You may also be able to claim back your VAT against courses taking place outside of the UK, and we would recommend contacting VAT IT, our specialist partner, to discuss how to do this.

Course details

Dates are currently being finalised. Get in touch to find out more
Download course brochure

Loan Documentation School (Modular Course)

Get up to speed with loan transactions and legal requirements
  • “It gives you a thorough understanding of the fundamentals of international loan documentation”
    Head, Rizal Commercial Banking Corporation

    “Well structured and clear. Excellent trainer!”
    VP, BNP Paribas Singapore

    This course is made up of two separately bookable modules:

    Module 1: Loan Documentation (Day 1-3)
    Module 2: Advanced Loan Documentation (Day 4-5)

    'Loan Documentation' is an intensive course that covers all aspects of a loan transaction, concentrating particularly on the agreement itself and on the legal implications of a properly drafted and incorrectly drafted document. Delegates will be taken step-by-step through the process of documenting a loan, from the early stages of pre-contractual issues, letters of commitment and written offers, through to administrative provisions, representations, covenants, defaults, transfer provisions, guarantees and the
    eventuality of insolvency.

    'Advanced Loan Documentation' builds on the content of the first module - 'Loan Documentation' and it focuses on the practical interactive workshops on the key issues and on detailed comments on the agreement. The course is highly interactive, giving participants a more detailed understanding of the loan documentation in practice. It builds on the previous module by looking at the loan agreement in different commercial contexts and at structural issues which commonly arise.

    Summary of course content

    • Start from pre-contractual issues and explore the key clauses in a loan agreement
    • Spot key issues and deal with comments
    • Avoid conflicts between representations, conditions precedent, undertakings and 
    • events of default
    • Review the loan agreement in different commercial situations: Project corporate
    • and asset based financings
    • Review contractual support arrangements
    • Examine common intercreditor arrangements
    Methodology

    This course is both practical and interactive. It has been designed to be immediately relevant to lawyers and bankers involved in loan documentation. Through a series of formal lectures, group discussions and workshops, delegates will cover all aspects of loan transactions, concentrating particularly on the agreement itself.

    All participants on our Loan Documentation training courses will receive a complimentary copy of “The Handbook of International Loan Documentation”, written by our expert faculty, Sue Wright. ISBN 978-1-137-46758-4

    FTS Eligible


    This programme is recognized under the Financial Training Scheme (FTS) and is eligible for FTS claims subject to all eligibility criteria being met.


    Please note that in no way does this represent an endorsement of the quality of the training provider and programme. Participants are advised to assess the suitability of the programme and its relevance to participants’ business activities or job roles.


    The FTS is available to eligible entities based on the prevalent funding eligibility, quantum and caps. FTS claims may only be made for recognized programmes with specified validity period. Please refer to
    www.ibf.org.sg for more information.

  •  

    Module 1
    Day 1
    Introduction


    INTRODUCTION: The most common structures of loan transactions
    • Single banks and syndicated loan
    • Term loans and revolving credit facilities
    • Single currency and multi-currency facilities
    • Loan and guarantee facilities
    • Secured and unsecured facilities
    Pre Contractual Issues
    TERM SHEET:
    • What issues should it address
    • How much detail should it contain
    • Is it intended to create a legally binding commitment

    LIBOR funding and broken funding costs

    This session will involve consideration of how the Eurocurrency interbank markets work and the consequences in the documentation in terms of
    • Interest rates and interest periods
    • Broken funding costs (and profits)
    • Default interest
    Withholding tax
    Here we will look at withholding tax, double taxation treaties, and the consequences for the loan documentation

    OVERVIEW AND ADMINISTRATIVE PROVISIONS
    This session will involve an overview of the Loan Agreement and how it is structured to protect the Lender, and an examination of some of the “mechanical” provisions of a typical loan agreement, such as the payments clause and the procedures to be followed on drawdown
    • Drawdown procedures
    • Repayment and prepayment
    REPRESENTATIONS
    Delegates will consider the purpose of the representations. Typical representations will be considered, including common comments from either side.
    Homework briefing
    As homework, participants will review a specimen loan agreement t identify conflicts between different provisions

    Day 2

    Repeated representations
    We will review the homework; the impact of repeating representations; and the interrelations between different parts of the document, both in a term loan and in a revolving credit

    COVENANTS AND EVENT
    Typical covenants and events of default will be discussed, including
    • Purpose
    • Financial covenants
    • Cross default
    • Material Adverse Change
    • “Default”
    COVENANTS AND EVENTS OF DEFAULT (contd.)
    GLOSSARY OF TERMS
    BOILERPLATE PROVISIONS AND LOAN TRANSFERS

    • Set-off clause
    • Indemnities
    • Agency clause
    • Pro rata sharing clause
    • Loan transfers

     

    - Novations

    - Assignments

    - Sub participations

    - Derivatives

    Homework Exercise - Calculate the likely recoveries of different classes of creditors in a winding up

    Day 3
    SECURITY
    Review Homework
    SECURITY AND QUASI SECURITY

    Different types of security will be considered, including
    • liens
    • pledges
    • charges (fixed and floating);
    • mortgages
    • title as an alternative
    • security on contracts
    SECURITY AND QUASI SECURITY (contd.)
    GUARANTEES

    • Commercial benefit and transactions at an undervalue
    • Common provisions of a guarantee
    DUE DILIGENCE AND WHERE TO DO IT
    • What issues are relevant?
    • Where to conduct due diligence
    • Legal opinions


    Module 2
    Day 4
    Registration and Welcome Coffee

    • Review of Key Loan Agreement Issues
    • “Relevant Companies”
    • Conflict between representations, conditions precedent, undertakings and events of default
    • The pari passu clause
    • The negative pledge
    • The cross default clause
    • The material adverse change clause
    • Linking the loan to the borrower`s rating
    • “material”, “reasonable” worth the debate?
    • Grace periods
    • Prepayment events
    • Subjectivity and control in the context of events of default

    Day 5
    Workshop

    • Participants will consider a number of borrower’s comments on the Loan Agreement
    • This exercise will highlight key topics within Representations, Undertakings, Events of Default, and Boilerplate, including
    • Repeated Representations
    • Negative Pledge
    • No Disposals
    • Cross Default
    • Material Adverse Change
    • Transferability
    Key Legal Issues
    • Governing law and jurisdiction
    • What courts have jurisdiction to deal with disputes in an international context? What law will they apply?
    Clawback/unenforceability
    • In what circumstances might obligations be avoided or become unenforceable?
    • Financial assistance
    • Ultra vires
    • Commercial benefit
    • Preferences
    • Transactions at an undervalue
    • Registration
    • Penalties
    • Administration
    Interference with contracts
    Intercreditor arrangements
    We will review a number of different intercreditor agreements relevant to different circumstances

    End of Course

     

  • Our Tailored Learning Offering

    Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course and dramatically increase your ROI.

    If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

    We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

  • We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

    We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

    • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
    • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
    • Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
    • Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
    • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product
This course can be run as an In-house or Tailored Learning programme

Instructor

  • Sue Wright

    Biography

    Sue Wright is a solicitor with over 18 years experience in international banking transactions, including syndicated loans, subordinated debt, structured finance and tax driven transactions. She was a partner in the banking department at Norton Rose for 8 years and was responsible for training assistants at Norton Rose for 2 years. Sue has been highly recommended as one of the leading experts in her field by the Legal 500 and by Chambers.She was the Head of Professional Development at Herbert Smith and is now running an independent training consultancy, specialising in international banking.