Document assembly and contract automation specialists

August 2006 - By Georgina Stanley

Linklaters launches new document drafting product

Linklaters has rolled out a new product to automate the drafting of certain leveraged finance agreements in a move the magic circle law firm says will cut costs for clients and reduce risk.

The Blue Flag product, termed the Leveraged Term Sheet Generator (LTSG), is available to lawyers within Linklaters’ banking department, while banking clients of the firm can also use the product in-house.

Two banks have already signed up for LTSG, which can cut the time required to draft a term sheet from eight-12 hours to between 30 minutes and an hour.

The product also features a built-in advisory service intended to improve access to Linklaters’ know-how.

Linklaters launched its first online system for basic syndicated loan financings – Term Sheet Generator – in 2003 and has since expanded the range to include a loan agreement generator. The firm is also planning to automate wider leveraged finance documents.

Commenting on the launch, Linklaters banking chief Robert Elliot told Legal Week: “Leveraged is more document-intensive and more structured, with different layers of debt and more complexity, so this will bring about greater efficiency. The good thing… is that it’s available internally and we can also provide it to clients.”