These types of loans usually have a more formal loan agreement process. This process may require the loan agreement to be signed and agreed upon by the lender and customer at the final stage of the transaction process. the contract shall be deemed effective only after both parties have signed it. This provision defines various terms used in the agreement to ensure that all parties are on the same page. The familiarity and transparency of the documentation allows the negotiating parties to focus on the most important points of the negotiation, rather than on provisions that can already be considered a “market standard”. This avoids excessive discussions on standard terms and ultimately increases the efficiency of the negotiation process. ALMA documents help streamline the debate on representations, alliances and failures; previously contentious clauses that might otherwise take a long time to design from scratch. For example, market disruptions and provisions for increased costs are created on a standard basis, saving time for lenders, borrowers and advisors. It is important to note that these clauses are neither exhaustive nor absolute and that the language can be modified if necessary. .