Uploaded by: Marilyn Vargas at March 12 2018 01:17:43.
A personal loan agreement template is a document that anyone can use to protect themselves as a lender. Filling out a simple loan agreement ensures that there is no confusion between the lender and the person in need of funds. A loan contract template takes the difficulty out of designing a concise and precise document. If the document is to be worth anything at all in a court of law, it must be accurate and define every aspect of the loan in question.
Loan Agreements regulate the making of term loans from one party to another. The Simply-Docs Loan Agreements cover the necessary legal and practical commercial considerations relevant to the lending of small to medium sized amounts for specified periods of time.
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.
A loan agreement is a written document that sets the terms of money or personal property that is to be borrowed by someone else for a period of time. The borrower is given the full sum of the loan on the first (1st) on the day of commencement and must pay back the lender along with any interest stated. The interest is usually computed as a yearly percentage (also referred as an APR).
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