Wednesday, December 2, 2015

New: Amendment to SMSF borrowing

Sharmistha Bose, Product Marketing Specialist

In response to your feedback, Cleardocs is pleased to introduce the new Amendment to SMSF borrowing document package.

This document package allows you to vary the Declaration of Custody Trust (Custody Trust Deed) that the SMSF purchased as part of the SMSF borrowing (bank) document package and which has been signed.

It assists to easily resolve common lender issues with your existing Custody Trust Deed and pre-populates details from your SMSF borrowing (bank) document package order.

You can order a Cleardocs Amendment to SMSF borrowing for $308.00 inc. GST.

What changes to the Custody Trust Deed are covered?
Sometimes, the lender and the details of the authorised investment change after the Custody Trust Deed has been signed - and the lender may require the Custody Trust Deed to be varied to address the changes.
The Cleardocs Amendment to SMSF borrowing document package covers the following variations to the Custody Trust Deed:
  • change in lender; and
  • change of any other details of the authorised investment in the schedule to the Custody Trust Deed (such as the loan amount and settlement date).

What documents are included in the Cleardocs package?
The document package includes:
  • the Deed of Variation that varies the SMSF's existing Custody Trust Deed; and 
  • an Establishment Kit explaining what to do next. 

Is a Cleardocs Custody Trust Deed required for this document package?    

Yes. To use this document package, the SMSF needs to have a Cleardocs Custody Trust Deed purchased as part of the SMSF borrowing (bank) document package. This package is intended to supplement the SMSF borrowing (bank) document package and is drafted for consistency with those borrowing documents.
As with all our packages, the legal documents are signed off by top-20 Australian law firm, Maddocks. 

Any questions?
If you have any questions about the Amendment to SMSF borrowing or any of our other products, please contact our free helpline on 1300 307 343.


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