Convertible loans are a frequently used investment alternative to priced equity rounds, especially in the pre-seed/seed stage but also for bridge financing purposes. It was, therefore, only a matter of time until SECA would step up with a Model Documentation in order to facilitate and standardize investment terms for convertible loan investments.
The CLA Model Documentation consists of short-form as well as long-form versions of a term sheet as well as a convertible loan agreement, in both cases including annotations that aim at providing further drafting guidance. The CLA Model Documentation can be downloaded free of charge below.
The CLA Model Documentation was prepared by SECA's standing working group for the model documentation "light" and finalized after consultation with various stakeholder groups, including VCs, business angel and startup associations. SECA expresses its thanks to the standing working group composed of
