Prepaid Forward Purchase Agreement

Prepaid Forward Purchase Agreement Template for Australia

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Key Requirements PROMPT example:

"I need a Prepaid Forward Purchase Agreement under Australian law for the purchase of iron ore, with physical delivery scheduled for March 2025, including specific provisions for quality testing at the delivery location and appropriate security arrangements for the prepayment."

Document background

The Prepaid Forward Purchase Agreement is a sophisticated financial instrument used when parties wish to establish a binding commitment for the future purchase and sale of assets with an upfront payment structure. This document type is particularly relevant in Australian financial markets and is commonly used for commodities, securities, or other assets where advance payment and future delivery are desired. The agreement must comply with Australian financial services regulations, including the Corporations Act 2001 (Cth) and ASIC requirements, while addressing key commercial terms such as pricing mechanisms, settlement procedures, and risk allocation. It's typically employed in scenarios where buyers seek to secure future delivery of assets while providing sellers with immediate funding, making it particularly valuable in resource-rich sectors common to the Australian market.

Suggested Sections

1. Parties: Identification of the buyer and seller, including full legal names and addresses

2. Background: Context of the transaction, including the nature of the underlying assets and commercial purpose

3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement

4. Forward Purchase Commitment: Core agreement for the future purchase and sale of the underlying assets

5. Prepayment Terms: Details of the prepayment amount, timing, and payment mechanics

6. Settlement Terms: Specifications for final settlement, including timing, method, and procedures

7. Conditions Precedent: Conditions that must be satisfied before the agreement becomes effective

8. Representations and Warranties: Standard and transaction-specific representations by both parties

9. Covenants: Ongoing obligations of the parties during the term of the agreement

10. Events of Default: Circumstances constituting default and corresponding remedies

11. Early Termination: Provisions for early termination and calculation of termination amounts

12. Taxes and Expenses: Allocation of tax liabilities and transaction expenses

13. Notices: Communication procedures between parties

14. General Provisions: Standard boilerplate clauses including governing law, jurisdiction, etc.

15. Execution: Signature blocks and execution requirements

Optional Sections

1. Physical Settlement Procedures: Detailed procedures for physical delivery of underlying assets, used when physical settlement is contemplated

2. Cash Settlement Procedures: Procedures for cash settlement calculations and payments, used when cash settlement is contemplated

3. Security Arrangements: Details of any security or collateral arrangements, included when additional credit support is required

4. Regulatory Compliance: Specific provisions addressing regulatory requirements, included when dealing with regulated assets or entities

5. Market Disruption Events: Provisions dealing with market disruptions, included for transactions dependent on market prices

6. Third Party Rights: Provisions regarding rights of third parties, included when third parties have interests in the transaction

7. Transfer Restrictions: Specific limitations on transfer of rights or obligations, included when transfer restrictions are required

8. Credit Support: Provisions for guarantees or other credit support arrangements, included when credit enhancement is required

Suggested Schedules

1. Schedule 1 - Calculation Methods: Detailed formulae and calculation methodologies for settlement amounts

2. Schedule 2 - Form of Settlement Notice: Template for settlement notices and related communications

3. Schedule 3 - Description of Underlying Assets: Detailed specification of the assets subject to the forward purchase

4. Schedule 4 - Pricing Mechanisms: Detailed pricing mechanisms and adjustments

5. Schedule 5 - Required Documents: List of documents required for settlement or conditions precedent

6. Appendix A - Standard Settlement Instructions: Details of payment and settlement accounts and procedures

7. Appendix B - Form of Transfer Documents: Templates for any transfer documentation required for settlement

8. Appendix C - Compliance Requirements: Detailed regulatory compliance requirements and procedures

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Financial Services

Mining and Resources

Agriculture

Energy and Utilities

Commodities Trading

Investment Banking

Asset Management

Manufacturing

Technology

Real Estate

Relevant Teams

Legal

Finance

Treasury

Trading

Risk Management

Compliance

Operations

Settlement

Corporate Finance

Investment

Business Development

Structured Finance

Relevant Roles

Chief Financial Officer

Treasury Manager

Trading Director

Risk Manager

Legal Counsel

Compliance Officer

Investment Manager

Corporate Finance Manager

Operations Director

Settlement Officer

Finance Director

Commercial Director

Portfolio Manager

Structured Finance Manager

Business Development Director

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Authors

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