Sample legal documents for social benefit bonds now available

The Office of Social Impact Investment is progressively making available a suite of sample standard form documents for developing and implementing social benefit bonds and other social impact investments. By doing so, we hope to improve the efficiency of drafting legal documents and reduce costs associated with developing social impact investment transactions.

This is the first time documents like these have been made freely available. Social impact investments are still relatively new and can be complex and costly for participants. By publishing sample documents, based on those used for NSW's social benefit bonds, we hope to reduce barriers to participating in transactions and improve stakeholders' understanding of what's involved.

Sample documents now available include:

• a joint development phase agreement
• an implementation deed
• a direct agreement.

A fact sheet is also available to guide you on when these documents should be used and other things you should consider when developing proposals for transactions.

Over time, we will add more sample documents, like a deed poll, purchase agreement and more. All sample documents can be used as the basis for preparing actual documents for transactions with the NSW Government, though they may not be suitable in all circumstances. Please seek your own professional advice.

The documents have been developed by King & Wood Mallesons and the NSW Crown Solicitor's Office with Trevor Danos AM, a member of the NSW Social Impact Investment Expert Advisory Group.