AI Prompt Library

Banking & Finance Law prompts for Australian lawyers

These prompts are designed for AU banking and finance lawyers acting on lending transactions, security, enforcement, consumer credit, and regulatory matters. Copy any prompt, replace placeholders with your matter facts, and run it.

In short

A curated library of 25 AI prompts for Australian banking and finance practitioners. Each prompt is grounded in the National Credit Code, PPSA, Corporations Act financing rules, and ASIC regulatory guidance.

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Research

Research prompts (5)

Research unconscionability in guarantees

Prompt

Research the current Australian approach to unconscionability defences raised by guarantors under s 12CB of the ASIC Act and equitable unconscionability after Kakavas v Crown Melbourne. Cite recent Federal Court authority.

Example use: Assessing enforceability of a spousal guarantee over a family home securing a business facility.

Research PPSA priority rules

Prompt

Research the current priority rules under Part 2.3 of the PPSA 2009 (Cth), covering PMSI super-priority, taking-free rules, and perfection by registration vs possession.

Example use: Determining priority between competing secured creditors over inventory of an insolvent retailer.

Research responsible lending obligations

Prompt

Research the current responsible lending obligations under the National Credit Code following ASIC v Westpac (Wagyu). Cover reasonable inquiries, assessment, and the 2021 amendments.

Example use: Advising a lender on compliance processes for home loan applications.

Research unfair contract terms in finance

Prompt

Research the application of the unfair contract terms regime under the ASIC Act to small business finance contracts following the November 2023 amendments.

Example use: Reviewing a standard form business loan for unfair terms exposure.

Research hardship variation obligations

Prompt

Research the hardship variation obligations under s 72 of the National Credit Code, including recent ASIC guidance and enforcement activity.

Example use: Advising a non-bank lender on processes for handling hardship notices from retail borrowers.

Drafting

Drafting prompts (5)

Draft a facility agreement

Prompt

Draft a bilateral secured facility agreement. Lender: [details]. Borrower: [details]. Facility: [$]. Include drawdown, representations, covenants, events of default, and governing law.

Example use: A senior secured term loan facility for a mid-market corporate borrower.

Draft a general security deed

Prompt

Draft a general security deed (GSD) over all present and after-acquired property of the grantor, aligned with PPSA registration requirements. Grantor: [details]. Secured party: [details].

Example use: Security granted by an operating company in favour of a bank under a working capital facility.

Draft a guarantee and indemnity

Prompt

Draft a guarantee and indemnity from a director guarantor. Principal debtor: [details]. Include continuing guarantee, principal debtor provisions, and limited recourse carve-outs.

Example use: Director guarantees supporting a $2M commercial facility.

Draft an intercreditor deed

Prompt

Draft an intercreditor deed between senior and mezzanine lenders. Parties: [details]. Cover payment waterfall, standstill, enforcement rights, and turnover.

Example use: Senior/mezz structure for a property development financing.

Draft a notice of default

Prompt

Draft a notice of default under [facility agreement]. Event of default: [details]. Include grace period, remedy option, and acceleration reservation of rights.

Example use: Notice of financial covenant breach issued to a corporate borrower.

Review

Review prompts (5)

Review a facility agreement

Prompt

Review this facility agreement from the [borrower/lender] perspective. Identify unusual covenants, MAC clauses, information undertakings, and cross-default scope.

Example use: Borrower-side review of a syndicated facility from a major Australian bank.

Review security documents for PPSA perfection

Prompt

Review these security documents and registrations for PPSA perfection. Check grantor ID, collateral class, PMSI flags, and the 20-business-day PMSI window.

Example use: Pre-completion review of security package for an acquisition financing.

Review a credit contract for NCCP compliance

Prompt

Review this consumer credit contract for compliance with the National Credit Code, including pre-contractual disclosure, comparison rate, and default notice requirements.

Example use: Compliance review of a non-bank lender's home loan contract.

Review a guarantee for enforceability

Prompt

Review this guarantee for enforceability. Consider the Code of Banking Practice, diligent and prudent banker obligations, and Yerkey v Jones risk indicators.

Example use: Enforceability review of a spousal guarantee before commencing proceedings.

Review a syndicated facility term sheet

Prompt

Review this syndicated facility term sheet. Identify market deviations, unusual MAC scope, ratchet provisions, and transfer restrictions.

Example use: Borrower-side review of a term sheet for a $150M syndicated facility.

Client comms

Client comms prompts (5)

Explain PPSA registration

Prompt

Draft a plain-English explanation of PPSA registration, why it matters, and the consequences of late or defective registration.

Example use: A new business client taking security over customer equipment under supply contracts.

Explain responsible lending obligations

Prompt

Draft a plain-English briefing for a lender on responsible lending obligations and the current compliance expectations post-Wagyu.

Example use: A fintech lender launching a new personal loan product.

Explain enforcement options

Prompt

Draft a plain-English explanation of enforcement options for a secured lender, including receiver appointment, asset sale under s 420A, and personal guarantee recovery.

Example use: A lender preparing to enforce over a defaulting commercial borrower.

Explain hardship rights to a borrower

Prompt

Draft a plain-English letter to a retail borrower explaining hardship variation rights under s 72 of the National Credit Code.

Example use: A lender responding to a borrower whose income has dropped due to illness.

Explain set-off and combination of accounts

Prompt

Draft a plain-English explanation of a bank's rights of set-off and combination of accounts, including limits under the Code of Banking Practice.

Example use: A business client whose operating account has been frozen by their bank post-default.

Strategy

Strategy prompts (5)

Strategy for enforcing security

Prompt

Develop a strategy for enforcing security over [assets]. Facts: [details]. Consider receiver vs administrator, s 420A duties, and tax and employee priority.

Example use: Lender enforcing a GSD over a distressed manufacturing business.

Strategy for defending a responsible lending claim

Prompt

Develop a defence strategy for a responsible lending claim. Facts: [details]. Consider ASIC guidance, inquiries made, and exemplary loss assessment.

Example use: A non-bank lender defending a small-claim hardship action.

Strategy for negotiating a workout

Prompt

Develop a workout strategy for a distressed borrower. Facts: [details]. Consider standstill, covenant resets, new money priming, and equity cures.

Example use: Restructuring a $50M facility with a corporate borrower facing a covenant breach.

Strategy for a receivership sale

Prompt

Develop a strategy for a receivership sale of [asset] under s 420A of the Corporations Act. Consider marketing, valuation, duties to guarantors, and surplus distribution.

Example use: Receiver appointed over commercial real estate securing a defaulted loan.

Strategy for an ASIC investigation

Prompt

Develop a strategy for responding to an ASIC investigation into lending practices. Consider s 912 obligations, voluntary disclosure, and enforceable undertakings.

Example use: A lender receiving a s 33 notice from ASIC regarding home loan assessments.

Use with Quillio

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