This On Demand was recorded on 6 April 2023.

Documenting loans and securities is a regular activity for most property and commercial lawyers.

This On Demand explains the updated suite of loan and security forms within ADLS WebForms, when and how to use them, and some of the traps you might fall into if they are not correctly completed.

Who should view?

Any solicitor or legal executive who is likely to draft a loan or security document using an ADLS form.

Any lawyer advising a client who uses an ADLS form in the course of their business either a specialist lender or a business that provides credit to customers.

Learning Outcomes

• Gain an understanding of the available forms and the forms that have been recently updated (general security agreement and term loan agreements) and added (specific security agreement, replacing the purchase security agreement).
• Gain a better understanding of the difference between fixed sum and all obligations mortgages; how these are documented using the term loan agreement and how the protection of indefeasibility for mortgages confirmed by Frazer v Walker can be lost if all obligations mortgages in the LINZ Workspace are not properly drafted.
• Decide when it’s appropriate to use a consumer credit contract and some of the licensing, certification, and other additional requirements for the creditor if they are entering into consumer credit contracts

• what terms you may still need to draft; and
• whether clauses in the form should be varied or amended to fit the terms of the transaction you are documenting.
• Learn about the impact of copyright in the forms and how to incorporate the general terms in ADLS securities without breaching copyright or failing to disclose in the case of consumer credit contracts.
• Understanding when Specific vs General Security Agreements are appropriate.

Presenter Details

Lee Kerr