Uploaded by: Marilyn Vargas at February 13 2018 18:37:33.
A loan contract template is a tool that can help you draft a legal loan document. The drafting of this document is a careful task. It must include information important to the loan and its repayment. The language must be easy to understand, clear, and concise. When the document is complete, it needs to leave no question about loan terms and repayment. The free loan agreement template has many uses. A personal loan agreement template is a document friends or acquaintances use.
This document should be read carefully by the parties and the guarantors, where applicable. Every party should then sign and return a physical copy of the loan agreement. Individuals should ensure that their signature of the document is witnessed by another adult person - over the age of 18.
While mentioned in brief earlier, a free loan agreement template is a legal document. It must contain specific information in clear, legal language. In the event the lender or borrow decides to pursue legal action, a simple loan agreement must have correct and clear information. It will make all the difference when you take your dispute before a judge in a court of law. Every personal loan agreement template or alternative loan contract template has “must have” information in the document.
A company is a party to this agreement they should ensure that the Loan Agreement is signed by two authorised signatories, either two directors or a director and a company secretary. Where a company only has a single director, that person may sign the agreement as the sole director.
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