> For the complete documentation index, see [llms.txt](https://help.jurisphere.ai/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://help.jurisphere.ai/jurisphere-guide/handbook/banking-and-finance/stage-by-stage.md).

# Stage by Stage

{% hint style="info" %}
**This page is for the team running the matter.** The stages of the mandate in the order they happen, the tools the team opens at each, and the call the lawyer still owns.
{% endhint %}

{% stepper %}
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### Pre-Transaction

[Research](https://jurisphere.gitbook.io/jurisphere-guide/research/overview-of-the-research-tool) regulatory framework and structure financing. Conduct borrower due diligence and encumbrance check.

<details>

<summary>Research regulatory framework and structure financing · <a href="https://jurisphere.gitbook.io/jurisphere-guide/research/overview-of-the-research-tool">Research</a></summary>

Identify applicable RBI Master Directions, sectoral lending norms, and capital adequacy requirements; analyse choice between term loan, working capital, NCD, ECB, or syndicated facility based on borrower profile, end use, currency, and tenor

**How to use.** Query Research for applicable regulatory framework (e.g., "RBI Master Direction on lending to commercial real estate", "ECB framework all-in cost ceiling for \[tenor]", "comparison between rupee term loan and ECB for \[end use]"). Use output to advise on optimal structure and identify approval requirements

</details>

<details>

<summary>Conduct borrower due diligence and encumbrance check · <a href="https://jurisphere.gitbook.io/jurisphere-guide/mca-documents/overview-of-the-mca-documents-tool">MCA Documents</a> · <a href="https://jurisphere.gitbook.io/jurisphere-guide/parallel-review/overview-of-the-parallel-review-tool">Parallel Review</a></summary>

Review borrower's corporate filings, existing financing, and security position to identify negative covenant restrictions, consent requirements from existing lenders, and existing charges on assets being offered as security

**How to use.** (1) Use MCA Documents to download borrower's ROC filings including all CHG forms (charge filings) (2) Use Parallel Review across borrower's existing facility agreements and trust deeds to extract negative covenant baskets, permitted indebtedness limits, and consent thresholds. Generate consolidated encumbrance map and consent trigger list

</details>

<details>

<summary>Translation of foreign-language facility docs · <a href="https://jurisphere.gitbook.io/jurisphere-guide/translation/overview-of-the-translation-tool">Translation</a></summary>

200+ global languages. Formatting preserved. Not court-admissible; for internal analysis only.

</details>
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### Documentation

Draft term sheet and facility agreement. Draft security package documentation.

<details>

<summary>Draft term sheet and facility agreement · Document Review · <a href="https://jurisphere.gitbook.io/jurisphere-guide/word-add-in/overview-of-the-word-add-in">Word Add-In</a></summary>

Prepare lender's term sheet and full facility agreement covering drawdown mechanics, interest computation, repayment, representations, affirmative and negative covenants, financial covenants, events of default, security, and governing law

**How to use.** Create custom workflow uploading firm or lender precedent (LMA-style or Indian standard). Generate first draft incorporating term sheet positions and credit committee approved terms. Use Word Add-In for clause-level editing, definitions consistency, and cross-reference checks

</details>

<details>

<summary>Draft security package documentation · Document Review · <a href="https://jurisphere.gitbook.io/jurisphere-guide/research/overview-of-the-research-tool">Research</a></summary>

Prepare full security suite based on facility type and asset profile: Deed of Hypothecation for movables, Indenture of Mortgage for immovable property, share pledge agreement, personal and corporate guarantees, and Trust and Retention Account agreement

**How to use.** Use Research for stamp duty, registration, and perfection requirements (CERSAI, ROC, sub-registrar, depository). Create separate custom workflows for each security document type using firm precedents. Generate drafts incorporating asset schedules, property descriptions, and share schedules from borrower records

</details>

<details>

<summary>Form CHG-1 narrative drafting · <a href="https://jurisphere.gitbook.io/jurisphere-guide/creating-custom-workflows">Custom Workflows</a> · Template-uploaded</summary>

Workflow built from your firm's previous filings. Lawyer develops asset-specific recitals.

</details>

<details>

<summary>Intercreditor and security document review · Document Review · Deep Dive Mode</summary>

Chat with the documents in Deep Dive Mode. Up to four follow-ups per thread.

</details>
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{% step %}

### Negotiation

Analyse borrower mark-up of facility and security documents.

<details>

<summary>Analyse borrower mark-up of facility and security documents · <a href="https://jurisphere.gitbook.io/jurisphere-guide/redline-analysis/overview-of-the-redline-analysis-tool">Redline Analysis</a></summary>

Review borrower counsel's redlines for dilution of representations, addition of materiality and knowledge qualifiers, narrowed event of default triggers, expanded permitted indebtedness and disposal baskets, extended grace and cure periods, and weakened security covenants

**How to use.** Upload lender's draft and borrower's mark-up. Tool generates table of all changes with consequence, category, author, and date. Filter by clause type (representations, covenants, EoD, security) to focus negotiation on high-impact items and prepare counter-positions

</details>
{% endstep %}

{% step %}

### Project Finance Specific

Conduct lender review of project documents.

<details>

<summary>Conduct lender review of project documents · <a href="https://jurisphere.gitbook.io/jurisphere-guide/parallel-review/overview-of-the-parallel-review-tool">Parallel Review</a> · Document Review</summary>

Comprehensive bankability review of concession agreement, PPA, EPC contract, O\&M agreement, and fuel/feedstock supply agreement for risk allocation, payment security, force majeure, termination payments, change in law protections, and step-in rights

**How to use.** Use Parallel Review across the full project document suite to extract risk allocation parameters and identify gaps in lender protection. Use Document Review with custom workflow encoding lender's standard bankability criteria to generate bankability report with deviations and recommended amendments

</details>
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{% step %}

### Pre-Closing

Generate and track conditions precedent checklist.

<details>

<summary>Generate and track conditions precedent checklist · Document Review · <a href="https://jurisphere.gitbook.io/jurisphere-guide/list-of-dates/overview-of-the-list-of-dates-tool">List of Dates</a></summary>

Extract all CPs from facility agreement and security documents; map each CP to responsible party, required document, and target completion date; track satisfaction of CPs through to drawdown

**How to use.** (1) Use Document Review to extract all CP items from facility agreement, including drawdown-wise breakdown for project finance (initial, subsequent, final tranches) (2) Use List of Dates to capture target completion dates and statutory windows (e.g., CHG-1 within 30 days). Generate structured CP tracker with responsibility allocation and status fields

</details>

<details>

<summary>Legal opinion drafting · Drafting Pane</summary>

Qualifications, assumptions, and bring-down conclusions are the partner's work product.

</details>
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{% step %}

### Cross Border

Verify ECB compliance and prepare FEMA filings.

<details>

<summary>Verify ECB compliance and prepare FEMA filings · <a href="https://jurisphere.gitbook.io/jurisphere-guide/research/overview-of-the-research-tool">Research</a> · Document Review</summary>

Verify proposed ECB against RBI framework on borrower/lender eligibility, minimum average maturity, all-in cost ceiling, end-use restrictions, hedging requirements, and parking of proceeds; prepare Form ECB and Form ECB-2 filings

**How to use.** Use Research for current ECB Master Direction parameters and FEMA filing requirements. Use Document Review to verify ECB term sheet against regulatory checklist, then use drafting workflow to populate Form ECB and Form ECB-2 with transaction details and supporting documentation

</details>
{% endstep %}
{% endstepper %}

{% hint style="success" %}
**At the end of the mandate.** The covenant calendar, the testing dates, and the refinancing triggers all live in the executed documents inside the Project. The deal's institutional record stays where the deal was built.
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---

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