Standard loan agreement suitable for individuals and businesses. The loan is not secured, therefore this agreement might be better suited to a borrower
About this document
This loan agreement is suitable for a person or company lending or borrowing money irrespective of any business they are in. It is not suitable for loaning to consumers because it has not been drawn under the Consumer Credit Act 1974 or any further amendments to that Act. For other loan agreements, see the links at the end of this page.
There is little or no statutory regulation relating to an agreement of this nature, so the parties can make more or less what deal they choose. There are a very large number of variables - you can choose to settle your agreement to strongly favor one side without reducing the precision of the agreement.
Application
and features
Provides for alternative draw down arrangements and provision of information to the lender
Suitable for use in Scotland, the EU or abroad
Ready for adaptation to particular needs of either or both parties
Comprehensive provisions provide menu from which you can choose
Written in plain English!
Contents
Structure of the loan
Alternative draw down arrangements
Provisions of information to lender
Repayment and interest payment arrangements
Method of payment
Provision for default situations
Borrower's warranties
Other legal provisions to protect your interests.
Word
Count (approximate):
Document: 1400
words
Explanatory notes:
350
words
Draftsman
This document is drawn and maintained by Net Lawman. It is real law in plain English.
