Agreement Format Between Money Lender And Borrower

Guaranteed Loan – For people with lower credit scores, usually less than 700. The term „secure“ means that the borrower must establish guarantees such as a house or a car if the loan is not repaid. It is therefore guaranteed to the lender to receive an asset from the borrower if it is repaid. After approval of the agreement, the lender must pay the funds to the borrower. The borrower will be tried in accordance with the agreement signed with all sanctions or judgments against them if the funds are not fully repaid. If the lender dies before obtaining the full repayment, the borrower owes the lender`s estate. In this case, the beneficiaries of the lender`s estate will recover the remainder of the debt. All correspondence is addressed to the address in the preamble description of this agreement. While loans can be made between family members – a family credit contract – this form can also be used between two organizations or companies that have a business relationship. Interest (Usury) – The costs of borrowing money. They may start collecting interest or increase the interest rate if the borrower does not make a payment on time. The increase in interest rates will provide you with additional compensation for the borrower`s non-payment as promised and the difficulty of obtaining the credit contract. The following events constitute „delay events“: 8.1 A borrower who does not move the loan, or the fees, fees or fees of nature or the manner in which it is included, or any other amount owed is not paid after the date on which it is due; or 8.2 In the event of the borrower`s death or the borrower`s bankruptcy; or 8.3 Any PDCs provided or provided by the borrower is not carried out on presentation for any reason; or 8.4 Any instruction given by the borrower to suspend the payment of PCS in accordance with clause 4D for any reason; or 8.5 on the commission of a breach of any of the conditions, conditions or information provided by the borrower to the lender in connection with this agreement or other document submitted by the borrower, which is deemed to be inaccurate or misleading; or 8.6 There are other circumstances that may jeopardize the lender`s interest.

CONSIDERING that borrowers intend to borrow a fixed amount; and since the personal loan agreement form is a legal and contractual agreement between two parties, it must contain detailed information on both parties as well as details of the personal loan for which the contract is executed.