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Bank Release Form

Bank Release Form Template for Hong Kong

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Key Requirements PROMPT example:

Bank Release Form

"I need a Bank Release Form for HSBC Hong Kong to discharge a corporate customer from all obligations under a USD 5 million term loan facility that will be fully repaid by March 15, 2025, with the release to include associated security interests and guarantees."

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Document background
The Bank Release Form serves as a critical document in Hong Kong's banking sector, used when parties need to formally terminate or modify their banking relationships or obligations. This document is typically employed when loans are fully repaid, facilities are terminated, or securities are discharged. The form must comply with Hong Kong's robust banking regulations and financial services framework, including requirements set by the Hong Kong Monetary Authority. The Bank Release Form includes specific details about the parties involved, the obligations being released, and any conditions attached to the release. It's particularly important in Hong Kong's dynamic financial environment where clear documentation of banking relationship changes is essential for regulatory compliance and risk management.
Suggested Sections

1. Bank Details: Full legal name and address of the bank branch issuing the release

2. Customer Information: Complete details of the customer(s) including full name, identification numbers, and account references

3. Account Information: Specific details of the account(s) or facility(ies) being released

4. Release Statement: Clear and unambiguous statement of release, including the scope and extent of the release

5. Consideration: Statement of any consideration or payment made in connection with the release

6. Effective Date: Specific date when the release takes effect

7. Authorization: Statement confirming the authority of the bank representative to issue the release

Optional Sections

1. Related Facilities: Include when the release affects multiple banking facilities or linked accounts

2. Conditions Precedent: Include when the release is subject to certain conditions being met

3. Reservation of Rights: Include when the bank needs to reserve certain rights despite the release

4. Third Party Rights: Include when there are guarantors or other third parties involved

5. Currency Declaration: Include when dealing with foreign currency accounts or multiple currency facilities

6. Surviving Obligations: Include when certain obligations survive the release

Suggested Schedules

1. Account Schedule: Detailed list of all accounts and facilities covered by the release

2. Payment Evidence: Proof of settlement or payments made in connection with the release

3. Authorization Documents: Copies of relevant board resolutions or powers of attorney

4. Identity Documents: Copies of identification documents of the customer(s)

5. Original Facility Documents: References to original facility letters or agreements being released

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 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

Banking and Financial Services

Corporate Services

Legal Services

Real Estate

Manufacturing

Trading and Commerce

Retail

Construction

Professional Services

Technology

Healthcare

Relevant Teams

Legal

Compliance

Credit Administration

Risk Management

Corporate Banking

Retail Banking

Operations

Customer Service

Documentation

Treasury

Finance

Corporate Secretarial

Relevant Roles

Bank Manager

Relationship Manager

Compliance Officer

Legal Counsel

Corporate Secretary

Credit Officer

Risk Manager

Branch Manager

Financial Controller

Chief Financial Officer

Company Director

Operations Manager

Account Manager

Treasury Manager

Documentation Specialist

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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