CORPORATE BORROWERS LEGAL MARKETPLACE ("CBLM")

CBLM.SKILLSAPIEN.COM

Q: Why would I refer my clients to the CBLM rather than a lawyer I already know?

The CBLM Marketplace provides your corporate borrowers with the confidence that they are being referred to a selection of lawyers who are:
  • Independent from the bank – discussions with bank Relationship Managers reveal that corporate borrowers are typically wary of advisor recommendations from bank employees. The CBLM removes this perceived conflict of interest;
  • Subject matter experts – Vetted by Skillsapien and the banks to ensure they have relevant experience, familiarity with bank documentation and operate in the relevant market segment;
  • Committed to superior customer service – legal experts on the CBLM Marketplace are required to supply strong credentials and testimonials, which are available to clients to provide confidence and to aid in the lawyer selection process; and
  • Rated at the end of the engagement – to ensure maximum client leverage for higher satisfaction service.

Q: How can I be confident the legal experts are suitable for my clients?

Each lawyer on the CBLM Marketplace has been vetted by the banks, to ensure they are familiar with their documentation and processes. Each legal service provider has also gone through a Skillsapien curation process, whereby they were required to supply sufficient number of past client testimonials and examples of past work. Skillsapien has worked closely with the banks Legal to ensure the legal experts represented are genuine domain experts, with commensurate past client experiences. Importantly, once registered on the Marketplace, a borrower is able to ask any or all of the panel members questions about their specific requirements to facilitate the decision of which lawyer(s) is best suited to their needs.

Q: What is the CBLM?

The Corporate Banking Legal Marketplace, or CBLM, is a marketplace which helps corporate borrowers to find the right legal representation for their financing needs.
Our industry knowledge has shown that a significant percentage of financing proposals between corporate borrowers and lenders fail to complete, most often due to corporates using advisors who do not specialise in Finance Law.
Finance Law is a highly specialised field, and we recommend that corporates always appoint a recognised Finance Law expert when negotiating with a lender, to ensure successful completion of their financing agreement, avoid wasted advisor fees, and minimise management time.
All legal experts featured on the CBLM are recognised Finance Law experts, specialising in negotiating and documenting financing agreements on behalf of corporate clients.
CBLM is completely independent of the lenders, meaning that the Finance Law expert you select from CBLM is solely representing your interests.

Q: What are the benefits of the CBLM for me as a corporate borrower?

Corporate borrowers who select a legal expert from the CBLM Marketplace will benefit in a number of ways:
  • By appointing a recognised expert in Finance Law, you are significantly improving the chances that the financing proposal will successfully complete, which in turn minimises your advisor fees and minimises the use of management time.
  • The recognised Finance Law experts in the CBLM Marketplace are familiar with documentation from all major lenders in the Australian market, meaning they can hit the ground running and execute your proposal in the shortest possible time frame, shortening the time to completion.
  • The experienced Finance Law experts in the CBLM Marketplace can often recommend alternative financing structures that will provide tangible benefits to the corporate client.
  • The CBLM enables corporate borrowers to view credentials and testimonials for each legal expert, providing confidence and aiding in the selection process.
  • Corporate borrowers can request a quote from multiple legal experts on the CBLM Marketplace, providing pricing transparency.
  • Corporate borrowers are able to provide feedback at the end of the engagement which is visible on the marketplace to future users, maximising the incentive for advisors to ensure high client satisfaction.

Q: How do I know which legal expert is best suited to my needs?

Each legal expert in the CBLM Marketplace has been carefully vetted and curated by Skillsapien, the manager of the marketplace, to ensure the legal experts represented are genuine Finance Law experts, with commensurate past client experiences.
[The profiles of each legal expert include information which you may find relevant in your selection of the right legal expert, including their particular niches within Finance law and relevant sector experience.]
Once registered on the CBLM Marketplace, you are able to ask any or all of the featured legal experts questions regarding your specific requirements to decide which advisor is best suited to your needs.

Q: What are the benefits of the CBLM for my lender?

CBLM and the legal experts featured in the marketplace are completely independent from all lenders, meaning that the Finance Law expert you select from CBLM is solely representing your interests.
A relationship manager at your lender may recommend the CBLM Marketplace to you to find a Finance Law expert to represent you in negotiations with the lender. Lenders do this because they have experienced many deals which have failed to complete due to inadequate Finance Law representation, and they have an interest in the financing completing successfully.

Q: Are the legal experts in the CBLM Marketplace independent of my lender?

Yes. CBLM and the legal experts featured in the marketplace are completely independent from all lenders, meaning that the Finance Law expert you select from CBLM is solely representing your interests.

Q: Is there a cost to use the CBLM Marketplace?

No. As a corporate borrower, using the CBLM Marketplace to find the best legal expert for your needs is completely free of charge.
CBLM enables you to agree a fee-for-service from the legal expert you choose to work with. Because of the range of legal experts to choose from on the CBLM Marketplace, we expect that any fee agreed with a legal expert in the CBLM Marketplace should reflect market rates for the agreed scope.

Q: How do I register to use the CBLM Marketplace?

The initial registration process can be as simple as one mouse click – if you choose to sign-up using your LinkedIn profile – or in under 5 mins if you choose to sign-up using your email:
  1. LinkedIn sign-up: The quickest and easiest way to register for those already on LinkedIn is to simply click the LinkedIn button and enter your LinkedIn password. Relevant details will automatically be uploaded to the CBLM Marketplace.
  2. Email sign-up: The alternative is to register via the 'Sign-Up' button where you will be referred to a registration page where certain details will be required in order to effect the registration.
Once registered, Login is simple and straightforward. Importantly, you can easily change your details in future if required. Please note that whichever method used to sign-up must be used for subsequent logins.

Q: Can I register for CBLM using a corporate account?

Yes. This can be simply achieved by using a generic company email account and password, for example: admin@[company].com.

Q: Can I rate my legal expert?

Yes.This is a key and highly valuable component of the CBLM Marketplace. All borrowers who engage a CBLM legal expert can rate their legal expert according to a number of metrics, at the end of the engagement.This ensures:
  • Legal experts will strive to provide excellent service at market competitive rates.
  • Corporate borrowers can select the right legal expert for their needs, based on these ratings and feedback.

Q: Can I request a quote from more than one legal expert?

Yes.Borrowers can ask all or any number of legal experts on the CBLM Marketplace to quote on their requirements.

Q: What information do I need to provide to obtain a quote?

Borrowers should strive to provide as much information as possible to enable the lawyers to develop as informed a quote as possible.
If you are at the pre-Term Sheet stage of the transaction then you will only need to provide preliminary information on such matters as the intention / purpose of the loan, type of loan (secured/ unsecured), envisaged security if relevant, financial / organisation structure and amount to be borrowed.
If you are more advanced and have a Term Sheet (or equivalent) then it should accompany the above information. Any other transaction specific and relevant information should also be included.
Included in the site are suggestions for supporting material to be provided.

Q: Is my quoted fee a fixed price?

The greater the amount of information you can provide about the proposed transaction – for example your corporate / financial structure – the more accurate the quote from CBLM legal experts will be. Legal experts can only quote based on the information provided, so the more detailed the information provided, the lower the potential for cost fluctuation.
Where a borrower's requirements change this may require a quote to be revised; this can be discussed with your preferred legal expert, prior to the commencement of the engagement.

Q: Can I speak with the legal experts prior to commencing the engagement?

Absolutely, we encourage you to discuss your requirements with your preferred legal experts prior to engagement. You can do this via the Ask A Question function in the CBLM Marketplace.

Q: Who is Skillsapien and why are they qualified to operate this marketplace?

Skillsapien.comis a global professional experts online marketplace, consisting of a highly curated pool of ex-Fortune 500 executives, Partner-level professionals from top firms, and leading subject matter experts. The Skillsapien network encompasses some 180+ professional firms and over 6000 accessible experts across the USA and Australia.
With offices in Australia and the USA, Skillsapien aims to make finding, transacting and rating professional services more accessible to a wider market.
Through industry-specific portals, Skillsapien makes searching, booking and rating Experts as easy as filling out a couple quick online forms.
With its CBLM sub-portal, Skillsapien has enlisted some of Australia's most experienced legal specialists in the corporate banking sector, to be accessible to clients within a matter of minutes and provide transparency through online price quotes and feedback and ratings that provide clients with confidence when selecting their preferred legal expert. This transparency and access has until now been unavailable offline.
Most importantly, Skillsapien believes that with higher transparency, greater benchmarking capability, independence from lenders, and ratings leverage, borrower clients will become better informed and more empowered. This translates to a significantly improved customer experience and a better outcome for all.