Financing confirmation

from Wikipedia, the free encyclopedia

A financing confirmation is a declaration by a credit institution that it intends to finance an investment project. It can be irrevocable or under conditions such. B. the usual banking reservation .

use

In many cases, potential sellers or business partners attach great importance to ensuring that the buyer has the creditworthiness to secure financing after a purchase. Negotiating with a business partner who later fails to obtain financing means wasted effort.

Therefore, from a certain phase of the contract negotiations or at the time of the conclusion of the contract, a financing confirmation is sometimes required, with which the buyer proves his financing option.

In the financing confirmation, the bank confirms that it has checked the loan application and is generally ready to grant a loan. However, this willingness can be subject to certain reservations, e.g. E.g. the submission of documents, the results of tests (e.g. appraisals ), the approval of the bank's committees or the approval of authorities (e.g. building permit ).

A financing confirmation is not a credit agreement . The customer is not obliged to conclude a credit agreement. The bank is also free to reject a loan agreement in the event that the conditions mentioned are not met. However, if necessary, it is liable to Culpa in contrahendo . The financing confirmation is typically limited in time and expires when the deadline expires.

Financing confirmation for company takeovers

In the case of company takeovers in Germany, a financing confirmation from an investment services company must be submitted in legally defined cases . If the financing does not come about, the investment services company is liable in accordance with Section 13 WpÜG .

Suspected money laundering

Failure to provide a confirmation of financing constitutes a suspected case under Section 11 of the Money Laundering Act , which must be reported to the Central Office for Financial Transaction Investigations.

Individual evidence

  1. ↑ Gabriele Grimm: The financing confirmation for company takeovers . (PDF; 148 kB)
  2. ↑ buzer.de
  3. ↑ Money Laundering Act: How brokers avoid high fines . ratgeber.immowelt.de, June 30, 2017; accessed on December 3, 2018