Family And Friends Loan Agreement
A Loan Agreement (also known as a personal loan) is a legally binding agreement made between the Lender and the Borrower which governs the terms and conditions under which the loan is to operate. This agreement has been drafted specifically for cases where the parties to the agreement are either family members and/or friends.
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Document: Family And Friends Loan Agreement
Document code: JD017
Document format(s):
 MS Word
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£13.97
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A Loan Agreement (also known as a personal loan) is a legally binding agreement made between the Lender and the Borrower which governs the terms and conditions under which the loan is to operate. The loan is unsecured, which means that there is no collateral (hence it is unsecured) and therefore no security for the Lender and no entitlement over any of the Borrower’s assets in the event of default on the part of the Borrower.
This agreement is drafted specifically for cases where the parties to the agreement are family members and/or friends, and where the money is being loaned to the Borrower and paid back by way of instalments, either with or without interest. It is intended to provide an informal and relaxed agreement between the parties whilst still providing the Lender with sufficient legal protection in the event of default on the part of the Borrower.
This agreement contains the following clauses:
1. Loan
2. Indebtedness and Repayment
3. Interest
4. Security
5. Default of Payment
6. Accelerated Repayment
7. Governing Law and Jurisdiction
8. Signatories
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The Family And Friends Loan Agreement is available to download instantly in the following formats:
Microsoft Word document
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