The Letter Of Intent To Borrow Money is a crucial preliminary document in Hong Kong's lending landscape, used when parties wish to formalize their intentions regarding a loan arrangement before proceeding with a full loan agreement. It serves as a stepping stone in the negotiation process, particularly in complex or high-value lending situations. This document type is commonly used in Hong Kong's financial sector, where it must align with local regulations including the Money Lenders Ordinance (Cap. 163) and related financial legislation. While not typically legally binding as a whole, certain provisions like confidentiality clauses may be enforced. The document helps parties establish clear expectations and facilitates due diligence processes, making it an essential tool in both corporate and private lending scenarios. It's particularly valuable in situations where parties need to demonstrate serious intent to proceed with a loan while finalizing terms and conducting necessary assessments.
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1. Date and Address Block: Header with current date and recipient's full address
2. Subject Line: Clear identification as 'Letter of Intent to Borrow Money'
3. Opening Salutation: Formal greeting to the intended recipient
4. Purpose Statement: Clear statement of intent to borrow money and the purpose of the loan
5. Loan Amount: Specific amount to be borrowed, stated in both numbers and words
6. Key Terms: Proposed interest rate, repayment period, and payment schedule
7. Security/Collateral: Description of any assets offered as security for the loan
8. Timeline: Proposed timeline for finalizing the loan agreement and disbursement
9. Non-Binding Statement: Clear statement that this is a non-binding letter of intent
10. Closing: Professional closing statement
11. Signature Block: Space for signatures of both parties with full names and titles
1. Conditions Precedent: Include when there are specific conditions that must be met before the loan can be finalized
2. Due Diligence: Include when specific documentation or verification will be required
3. Confidentiality: Include when sensitive financial information will be exchanged
4. Exclusivity: Include when the borrower agrees not to seek alternative funding sources during negotiations
5. Cost Coverage: Include when there's a need to specify who bears the costs of preparing formal documentation
6. Governing Law Statement: Include when parties are from different jurisdictions or for high-value loans
1. Schedule A - Proposed Repayment Schedule: Preliminary outline of proposed repayment dates and amounts
2. Schedule B - Asset Description: Detailed description of any collateral or security being offered
3. Schedule C - Required Documentation: List of documents required for due diligence and loan processing
4. Appendix 1 - Financial Summary: Basic financial information supporting the loan request
Relevant legal definitions
Clauses
Relevant Industries
Banking & Finance
Real Estate
Commercial Lending
Private Banking
Corporate Finance
Small Business
Investment
Property Development
Manufacturing
Retail
Technology
Healthcare
Education
Construction
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Corporate Secretarial
Credit Analysis
Business Development
Operations
Executive Management
Relevant Roles
Chief Financial Officer
Finance Manager
Legal Counsel
Corporate Lawyer
Banking Officer
Credit Manager
Financial Controller
Treasury Manager
Business Development Manager
Risk Assessment Officer
Compliance Officer
Company Secretary
Managing Director
Finance Director
Loan Officer
Account Manager
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