We have published a revised agreement on the conversion of tempered window (Lookback without observational movement). new agreement on the average exchange rate agreement (retrospective with postponement of compliance); Revised comments on tariff change mechanism agreements; The maturity sheet for tariff-change facility agreements; and RFR conditions for use in addition to the revised replacement of the screen flow language. In 2018, the LMA expanded its portfolio of documents to several sectors and product sectors, with the publication of various new documents: an agreement on debt financing of acquisitions, which anticipated a combination of priority debt securities and a super senior filming facility; A guide for setting up mezzanine mechanisms for real estate financing operations; German-language and English-language debt lending models; a facility agreement for use in export credit operations, with the support of an export credit agency; a facility agreement with a letter of credit for use in developing countries; a revised «replacement clause» for the display rate to provide additional flexibility in the face of uncertainty surrounding the hiring of LIBOR; and a new model for secondary trade, the main objective of which is to minimize the negotiation of commercial confirmation in the secondary billing process. In 2017, the LMA expanded its collection of documents to include the publication of preliminary contracts for transactions in borrowed funds, a guide to the development of mezzanine mechanisms for transactions in borrowed funds, a model for Italian private placement documents and a confidentiality agreement under South African law. In 2012, a commercial real estate financing document for multi-property investments, a market development facility agreement and a pre-export financing agreement were introduced. In 2013, a single agreement was reached for financing the financing of real estate development and four other market development facility agreements. In 2014, the LMA continued to develop its documentation in these areas, with the publication of an agreement on real estate financing and facilities-to-use agreements in South Africa, Kenya, Tanzania, Uganda and Nigeria. In the run-up to 2020, the LMA`s documentation projects once again reflect the scope of the LMA`s work across the EMEA. The LMA is working to establish a security agreement for use in all legal systems in Africa, a basic facility agreement for the basis of post-production of raw materials, various ancillary documents for real estate financing and a guide for inter-credit agreements. One of the new REF security documents, the LMA REF Development Security Agreement, was designed to be used with the LMA REF Development Facility Agreement.
The other new REF security document, the LMA REF Shareholder Safety Agreement, was designed to be used with both the LMA REF Investment Facility Agreement and the LMA REF Development Facility Agreement. It also provides for optional drafting in the event that the shareholder is also a subordinate creditor. So do we see that this security agreement is being used for bilateral transactions? The probability is that the influence of LMA models will generally filter down, and we will begin to see to some extent the security impact in bilateral transactions.