Agreed in principle

jcr16

Just wondering , if a loan is agreed in principal , what is the likely hood of it being fully accepted once paperwork has been signed ?

any thoughts are welcome

Mark7799

Usually, when this phrase is uttered, it is accompanied by a list of conditiosn that must be fulfilled for the loan to be fully accepted. Possible examples could be-
*subject to satisfactory valuation of an asset being pledged in collateral for the loan
* borrower being able to confirm they have raised the rest of the funds elsewhere for the transaction
* another funder providing funds (e.g. a grant application)
* Sunderland avoiding relegation from the Premiership (OK that was a joke ;-))))

jonesMUFCforever

known in the trade as a holding excercise until they have checked you out or get the internal authorisation in place to let you have the funds.