What to look out for in a loan agreement

What to look out for in a loan agreement

Contract of Work, Contract of Cooperation, Lease Agreement, Loan Agreement, Framework Contract. But what it really means, what the contract should contain, and what to be careful about, is that the company we are contracting with is serious.

From each side, this word is rolled out to us in various forms of a work contract, a cooperation agreement, a lease agreement, a loan agreement, a framework contract. But what does it actually mean, what should the contract contain and what to be careful to be sure that the company we are contracting with is a serious one?

In general, a contract constitutes a legal act consisting in the conduct of certain persons and with which the law associates the creation, alteration or disappearance of rights and obligations that the law entails with such a manifestation. possibly a multilateral legal act. 

The loan agreement, as well as other contracts, consists of at least two separate expressions of will, namely: 

loan agreement

1. proposal, ie offer to conclude a contract, 

2. acceptance of the proposal, ie consent of the other party to the proposal

 

A characteristic of the loan agreement is the determination of the counterparties (the creditor and the debtor), the abandonment of a species-specific contract subject to the contract (in our case money), the temporary nature of the contractual relationship and, last but not least, the obligation to return things of the same kind (again money).

 

The subject of loans to people for people is money

The subject of loans to people for people is money

We call the amount of borrowed money a principal. The debtor’s duty is to pay interest on this amount, which represents the remuneration for the use of the borrowed amount. Furthermore, the amount of interest is determined by the exact percentage of the amount of borrowed funds and is payable on the date specified in the contract between Best Financial Euro, as and the Borrower.

 

In Best Financial Euro, as, the client concludes two contracts for the first loan: a framework contract and a loan contract. After the loan is approved, a framework contract is sent to the client by post in two copies, one of which is returned to us in the enclosed envelope with a handwritten signature. This agreement contains the identification data of Best Financial Euro, as and the details of the client with whom the contract is concluded, the definitions of the terms, the rights and obligations of both parties, the terms of the contract as well as the fees associated with arranging loans from people for people.

 

The loan agreement in Best Financial Euro

The loan agreement in Best Financial Euro

As is issued to the client at every approved loan. It also includes the exact indication of the contracting parties – the creditor and the debtor, it is defined exactly the subject of the contract, the amount of interest, the number of installments, the amount of the monthly installment, the due date and all conditions under which the loan mediated by Best Financial Euro, as is provided. And of course we must not forget the rights and obligations of the parties. The contract is concluded online. So it is a much faster way to get a loan.

 

It sounds complicated, but it really isn’t. Best Financial Euro, as contracts are clear, simple, without unnecessary and misleading information, in accordance with the law! And how do you find out the best? Still, you borrow from us.   Nobody needs to worry about their privacy and security , as Best Financial Euro, as has developed a security project and processes the personal data of both debtors and investors in accordance with the requirements imposed by Act 122/2013 Coll.

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