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Whenever you are borrowing a significant amount of money, it is a great idea to put it in writing. A Loan Agreement is especially essential if you are borrowing money from someone you are not familiar with. It can prevent misunderstandings and disagreements by clearly setting down the terms of the loan and repayment.
Use this Loan Agreement (Borrower to Lender) if:
- You are a debtor (the borrower) and you wish to loan money from a credit provider (the lender) for personal, domestic or household purposes or for purchasing, refinancing, renovating or improving residential investment property.
What does the Loan Agreement (Borrower to Lender) cover?
- The financial table;
- Fees and charges;
- Account statements;
- Enforcement expenses;
- Variations and waivers; and
- The relevant information statement and other statutory notices.
Other names for Loan Agreement (Borrower to Lender) include:
- Loan Contract; and
- Money Borrowing Agreement.
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