can someone please provide a template IVA contract?

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kerry267
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by kerry267 » Wed May 16, 2018 9:45 am
can someone please provide a template IVA contract? ie what should be covered within the contract.
I would like to see what kind of provisions are standard.
would what type of IVA it is, full and final or duration should this be clear and unambiguous?
what if it doesn't state?
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Foggy
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by Foggy » Wed May 16, 2018 9:50 am
There is no over riding template for all IVA's. Some use R3 terms and conditions, some use Protocol terms and conditions and some are pretty much free drawn to reflect whatever the circumstances are in each case. The "Standard Terms & Conditions" for R3 and Protocol cases are also often cherry picked.

The most often used Protocol Ts&Cs are here: https://www.gov.uk/government/publicati ... a-protocol
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kerry267
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by kerry267 » Wed May 16, 2018 11:27 am
Foggy wrote:
There is no over riding template for all IVA's. Some use R3 terms and conditions, some use Protocol terms and conditions and some are pretty much free drawn to reflect whatever the circumstances are in each case. The "Standard Terms & Conditions" for R3 and Protocol cases are also often cherry picked.

The most often used Protocol Ts&Cs are here: https://www.gov.uk/government/publicati ... a-protocol

ok thanks foggy, that is helpful.
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Lisa Thomas
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by Lisa Thomas » Wed May 16, 2018 12:12 pm
I can e-mail you the R3 terms if you email me.
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Lisa Thomas
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by Lisa Thomas » Wed May 16, 2018 12:13 pm
NB Every IVA is unique depending on the debtors circumstances so whether it is contributions based, assets sales or lump sum will depend on you and what you wish to propose, which you would normally be guided on by your Nominee.

You won't see this in the T&Cs.

R3 terms are more flexible and the standard protocol terms tend to be set 5 year IVA with 1 year extension for the equity.
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