Keywords: German loan market, loan transactions, servicing agreement
There is a great demand for bank selling and purchasing standards structured for the German loan market. Currently, such purchase and sale transactions are structured under either UK or US standards, which can require comprehensive, and complex, contracts.
To address this need, Mayer Brown, as one of the founding members of, and counsel for, Deutsche Kreditmarkt-Standards e.V., recently drafted a form "servicing agreement" in relation to the servicing of a loan portfolio. The servicing agreement will enable German banks and investors to prepare and process transactions in the loan market without the complicated agreements usually required. We are glad to share the first agreements with you and will keep you posted on further developments. German and English language versions are attached to this Legal Update.
Get the Service Agreement (English).
Get the Service Agreement (German).
Originally published on December 14, 2012
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