Bank loans many prefer conventional loans between individuals that allow you to quickly and effortlessly get the required cash not carry the extra costs of paying commissions and interest. The lender in this case find usually among friends or private investors. In the first case, the borrower can even agree on an interest-free loan, while in the second you will have to pay interest, which in most cases is substantially higher than rates on Bank loans. The main issue for borrowers and lenders is the correct registration of the relevant relations, which is intended to insure both parties from trouble.
The loan agreement with the private entity must enter into written form in all cases, when the size of the transferred money exceeds one thousand rubles. Along with the contract is usually drafted by a receipt, which is confirmed by the actual transfer of the agreed amount from the lender to the borrower. The legislator allows parties to formalize a similar relationship with one receipt, but in this case, the borrower and the lender actually deprived of the opportunity to include additional terms (for example, to set the interest for the use of funds). Therefore, such a loan will apply only the General rules of civil law. Be limited to receipt in the case where the money comes from a loan from relatives, friends or acquaintances.
The loan agreement between private parties should be required to determine the amount of payment for the use of funds. So, the loan will automatically be considered interest-free only if its size does not exceed five thousand roubles. With the larger size of transferred funds in the amount of the loan will be charged interest if the parties have not agreed on in the contract this condition. The accrued interest is automatically equal to the current rate of refinancing. Another important condition, which is recommended to provide in the loan agreement, it is targeted. Often money is sent for a specific purpose, the violation of which the borrower may be grounds for recovery of amount transferred by a lender prior to the expiration of the contract. To coordinate all these conditions in the ordinary receipt is quite difficult, so if you need them fixing it is recommended to draw up a complete loan agreement with a private entity.
How to make a loan agreement?
The loan agreement with the private entity must enter into written form in all cases, when the size of the transferred money exceeds one thousand rubles. Along with the contract is usually drafted by a receipt, which is confirmed by the actual transfer of the agreed amount from the lender to the borrower. The legislator allows parties to formalize a similar relationship with one receipt, but in this case, the borrower and the lender actually deprived of the opportunity to include additional terms (for example, to set the interest for the use of funds). Therefore, such a loan will apply only the General rules of civil law. Be limited to receipt in the case where the money comes from a loan from relatives, friends or acquaintances.
What to include in the loan agreement?
The loan agreement between private parties should be required to determine the amount of payment for the use of funds. So, the loan will automatically be considered interest-free only if its size does not exceed five thousand roubles. With the larger size of transferred funds in the amount of the loan will be charged interest if the parties have not agreed on in the contract this condition. The accrued interest is automatically equal to the current rate of refinancing. Another important condition, which is recommended to provide in the loan agreement, it is targeted. Often money is sent for a specific purpose, the violation of which the borrower may be grounds for recovery of amount transferred by a lender prior to the expiration of the contract. To coordinate all these conditions in the ordinary receipt is quite difficult, so if you need them fixing it is recommended to draw up a complete loan agreement with a private entity.
