A loan agreement is drawn up in the case when one party (the lender) transfers to the other party (the borrower) an amount of money or other property for temporary use. Under this agreement, the latter undertakes to return the borrowed within a certain period and in the appropriate manner. Consider the main terms of a cash loan agreement.
Instructions
Step 1
The title indicates the place and date of drawing up / signing the agreement, as well as factual information about the lender and the borrower. If the parties are legal entities, then the name of the company, position and full name of the person authorized to sign this agreement are indicated. Individuals are required to provide passport data.
Step 2
The clause "Subject of the agreement" reflects the fact that the lender has provided the borrower with the amount of money in a certain amount (in digital and verbal terms) and currency, which the latter undertakes to return on time and in the manner prescribed in the relevant section of the agreement. The purpose of the loan and the form of transfer of the amount (by bank transfer or in cash) are also indicated.
Step 3
The borrower undertakes to use the loan in accordance with the designated purpose and inform the lender of his actions, as well as return the amount in due time. The lender has the right to control the expenditure of the funds provided, and also to demand early repayment of the loan in case of its misuse. The above conditions are fixed in the section "Rights and obligations of the parties".
Step 4
A separate item indicates the term and procedure for the return of borrowed funds, as well as interest, if any, agreed by the parties; sanctions in case of delay in payment.
Step 5
The standard is a clause about the appropriate actions of the parties in relation to the contract in conditions of force majeure circumstances. These include military operations, epidemics, earthquakes and other events of a similar nature.
Step 6
The conclusion indicates the procedure for resolving possible disputes between the lender and the borrower (through negotiations or through the court), the number of copies of the agreement, details (passport data for individuals) and addresses of the parties, full names for subsequent signing.
