Judicial practice shows that the need to enter into debt relations for each of the parties is an important step that requires appropriate registration. Debt obligations require specific agreements and the elaboration of all the details that will be indicated in the agreement. You can correctly formalize the debt by following some recommendations, the general rules for concluding such a transaction.
Instructions
Step 1
Discuss in detail all the important details of the loan agreement:
- sum;
- terms;
- interest;
- fines.
Step 2
Draw up a loan agreement or a simple written receipt, be sure to indicate:
- full details of the parties to the loan participants (full name, passport data, addresses);
- the date and place of the transaction;
- loan amount;
- return period;
- interest;
- special conditions (if they were in an oral agreement). Place the signature of the borrower with full decoding immediately below the main text.
Step 3
Transfer the signed loan agreement to the lender for safekeeping until the debt is repaid and full settlement in accordance with the conditions specified in it. Provided that the requirements of the IOU are fully met, the lender must return the document to the borrower, thereby terminating the debt relationship.
