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The Credit Application And Agreement serves as a comprehensive document used when an individual or entity seeks to obtain credit facilities from a financial institution or credit provider. This document, governed by English and Welsh law, combines the initial application process with the formal credit agreement, streamlining the documentation process while ensuring compliance with UK regulatory requirements. It captures essential information about the applicant's financial status, credit requirements, and establishes the legal framework for the credit relationship, including all necessary terms, conditions, and obligations of both parties. The document must align with Consumer Credit Act 1974 requirements and FCA regulations.

1. Parties: Identifies the credit provider and applicant

2. Background: Context of the credit application and agreement

3. Definitions: Key terms used throughout the agreement

4. Credit Facility Details: Amount, term, interest rate, and repayment terms

5. Conditions Precedent: Conditions that must be met before credit is provided

6. Representations and Warranties: Statements of fact by the applicant

7. Covenants: Ongoing obligations of the borrower

8. Events of Default: Circumstances that trigger default

9. Governing Law: Applicable law and jurisdiction