Negativattest is a crucial term often encountered in the world of capital markets.

Known as "negative certification" in English, this concept refers to a specific legal document that plays a vital role in certain financial transactions, most notably when issuing securities. As the name suggests, the Negativattest involves a professional undertaking that certifies the absence of any negative conditions or occurrences that could impede the successful completion of a transaction or the fulfillment of obligations by a party involved. In the context of stocks, loans, bonds, money markets, and crypto, the Negativattest is predominantly used during bond and loan offerings, acquisitions, mergers, and public offerings of securities. It is a document often provided by an issuer or their representative, such as an investment bank or legal counsel, to potential investors or buyers. By issuing a Negativattest, the issuer asserts that neither before nor at the time of the offering, there are any adverse circumstances or events that could adversely affect the investor's interests. This legal document typically outlines various negative occurrences, events, or circumstances that must not have transpired by the time of the transaction. It covers aspects such as litigation, material adverse changes in the issuer's business, non-compliance with laws and regulations, defaults, and significant financial losses, to name a few. The Negativattest functions as a representation and warranty by the issuer, and investors often rely on it to make informed decisions regarding their participation in the transaction. Considering the importance of the Negativattest, regulatory bodies and legal systems impose stringent requirements on its preparation and content. The document must be professionally executed, accurately reflecting the issuer's current situation, and complete to the best of their knowledge. Failure to comply with these requirements might have severe consequences, including financial penalties and legal liabilities.