Understand the security documents before you lock in the deal

That usually turns on the document and the deal context, but common pressure points include how widely the security reaches, what assets are caught, what counts as a default and how much control the secured party may gain if something goes wrong. We also look at restrictions that may affect future borrowing, asset sales, restructures or investor activity. A clause can look standard on its face but still have a major commercial effect once it is read with the rest of the finance documents, which is why a targeted review can be useful before signing.

It is often used by founders, small business owners and investors who have received security documents as part of a loan, venture debt arrangement, shareholder funding deal or acquisition-related financing. It can also be useful where a director or founder is being asked to sign a personal promise, indemnity or related support document. If the transaction is moving quickly, this service helps you understand the legal effect of the security wording you have actually been given, rather than relying only on the headline commercial summary.

A term sheet review usually deals with the headline commercial position before the long-form documents are settled. This service is about the actual legal wording in the security documents themselves. That means the review is more document-specific and more focused on enforcement rights, asset coverage, default triggers, restrictions and liability exposure. In practice, a term sheet may tell you the broad shape of the deal, while the security documents show what rights are really being created and what leverage the other side may have if there is a problem later.

Usually, the priority documents are the main security agreement and any related deed, promise, indemnity or finance document that changes the security position. It also helps to send a short explanation of the transaction, the parties involved and any timing pressure or clauses you are worried about. If you have been given more than two relevant documents, we can help identify which ones should be reviewed first under this service and whether additional review work would be sensible before the deal is completed.

The review is intended to help you decide what to question, what to negotiate and what level of exposure you are prepared to accept. In some matters, the next step is a short list of targeted amendments. In others, it is about understanding the downside if the document stays as drafted. After the consultation, you should have a clearer picture of the clauses that matter most, the commercial trade-offs involved and whether you want further support with mark-ups, negotiations or the broader transaction.

As an online law firm, we eliminate the headaches of paying us by the hour and finding time to meet with a lawyer in person. We charge a fixed fee, with upfront quotes and transparent pricing, and communicate via phone, email and video chat - whichever suits you! You'll be guided through our process by our expert lawyers, who are Australian-qualified and specialise in technology, intellectual property, contract drafting, corporate and commercial law.

At Sprintlaw, our pricing is transparent and designed for startups and small businesses. Many one-off legal services, including document drafting and reviews, are provided for a fixed fee with an upfront quote before you proceed.

Prices typically range from $250 to $2,500 AUD depending on the complexity and scope of the work. For ongoing support, Sprintlaw Memberships include options such as legal templates, consultations, a legal helpline and credits for services.

If your project is larger or more complex, we will provide a tailored quote after understanding what you need.

Our law firm operates completely online, which means we can help you wherever you are in Australia. We work at The Commons Central - a cool co-working space in Chippendale, Sydney - but our lawyers often work flexibly across various locations.

Our lawyers also work from co-working spaces and home offices in Sydney, Melbourne, Brisbane, Adelaide and Perth, so clients can get help online without needing to meet in person.