How to refund loan

If the amount of the loan (and the interest amount on the loan) is returned lump-whole payment, the lender must give the borrower a written acknowledgement that the amount of the loan returned. The receipt should indicate by whom and to whom transferred the funds to specify the passport data of the parties, their addresses, refer to the document which is used for the repayment of the loan. The more data will contain the text of the receipts, the easier it will be to prove to third parties that a refund is made to the proper person and in the amount that satisfies the conditions of the contract of the loan.

If there was such a need, you can bring in as witnesses third parties, which confirm the fact of transfer of funds and the amount of transferred sums of money, put the receipt in your signature and putting personal data.

Refund loan can be arranged in the form of acceptance-transfer of funds. Such an act will be an integral part of the contract of the loan. The instrument should specify by whom, to whom, when and in what amount was transferred (and accepted) amount in compliance with the obligations under the contract. A separate paragraph should indicate that the parties have no claims against each other.

If a refund of the amount of the loan is done in installments over a period of time, as Annex to the contract of loan to a payment plan. The parties may agree that upon transmission of each of the amount of the loan will be drawn up, the receipt or acceptance of transfer of funds.

You can also make a table in which at each transfer of money would fit the date of the return part of the loan and the size of the returned amount. Should provide a column in which the creditor will sign each time you receive the next part of the amount of the loan.