Commercial Law
Jun. 27, 2013
Watch out for 'standard' terms when negotiating secured loans
Do not be misled. Even in a "borrower's market," a borrower is at a significant disadvantage vis-a-vis its secured lender. By Jeffrey M. Pomerance
Do not be misled. Even in a "borrower's market," a borrower is at a significant disadvantage vis-a-vis its secured lender. From the commencement of the relationship, a secured lender typically possesses the "power of the pen" in its dealings with its borrowers. The primary focus is naturally on the "economic terms" of the deal - the term of the loan, payment terms and the interest rate, costs, fees, and ch...
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