A sample loan agreement with interest will help you correctly complete the transaction. However, when drawing up such an agreement, it is also necessary to take into account a number of features and legal requirements. — we will talk about them in our article.
How is an interest-bearing loan agreement concluded?
A money loan agreement with interest conditions can be concluded both between legal entities and individuals. If the lender is a company, then compliance with the written form is a prerequisite. If it is concluded between individuals and its amount does not exceed 10 minimum wages (for this case - 1,000 rubles), then it is possible, according to clause 1 of Art. 808 of the Civil Code of Russia, use the oral form. In this case, the parties may agree to issue a receipt or other document to confirm the fact and amount of the transfer of borrowed funds (clause 2 of this article).
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In the event that the exact amount of interest is not specified in the loan agreement, the bank rate in force in the region of residence of the lender on the day of payment by the borrower is taken to calculate it (clause 1 of Article 809 of the Civil Code). As a general rule, the borrower is obliged to pay interest monthly (clause 2 of Article 809 of the Civil Code). It is important to remember that an oral agreement on the provision of money on loan between 2 citizens can only be interest-free (clause 3 of Article 809 of the Civil Code).
Features of drawing up an agreement on lending money with interest
Each company that has the right to attract funds from the public, when developing its own version of a cash loan agreement with interest, which it will then use as a public offer, must clearly state the most important conditions, including:
- the amount and frequency of interest payments (clauses 1, 2 of Article 809 of the Civil Code);
- the period for repayment of the money loaned (clause 1 of Article 810 of the Civil Code);
- the possibility and conditions for early repayment of borrowed funds (clause 2 of Article 810 of the Civil Code);
- liability of the borrower in case of failure to comply with the deadlines for the return of borrowed funds or interest payments (Articles 395, 811 of the Civil Code).
The loan is considered received by the borrower at the moment the money is transferred by the lender - this is, as a rule, the day the loan agreement is concluded (paragraph 2, clause 1, article 807 of the Civil Code). If the contract states that it is considered concluded from the moment it is signed by the parties, this condition may subsequently be recognized by the court as void.
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Determining this point is important in order to correctly calculate the repayment period, if it is not indicated as a specific calendar date, and to calculate interest for the use of borrowed money. It is also necessary to specify in the agreement on lending money when the borrowed funds will be considered returned - at the time of transfer to the lender or at another time (clause 3 of Article 810 of the Civil Code).
What nuances can lead to a challenge to the contract?
When concluding an agreement to lend money, situations may arise when the borrower tries to challenge it due to lack of money. In order to challenge the agreement, he must go to court and provide evidence that the money on loan was never transferred or was transferred in a smaller amount than agreed (clause 1 of Article 812 of the Civil Code).
Various documents (letters, receipts, faxes, etc.) can be presented as evidence. Witness testimony will be taken into account only if it is proven that the transaction was concluded under the influence of threats/deception, or some aggravating circumstances have arisen (clause 2 of Article 812 of the Civil Code).
After the court establishes that the agreement to lend money is impecunious and that it was never received by the borrower from the lender, it is recognized as not concluded. However, if during the review process the court found that the funds were received by the borrower in a smaller amount than specified in the agreement, then it will be considered concluded for the amount of material assets that was established during the court review (clause 3 of Article 812 of the Civil Code).
Liability for failure to fulfill an interest-bearing agreement on lending money
If the borrower does not return the funds borrowed at interest on time, the lender has the right, in accordance with clause 1 of Art. 811 of the Civil Code, demand payment of interest in the amount of the key rate of the Central Bank from the day when it should be returned until the day it is returned to the lender. In addition, untimely return of part of the borrowed funds, if the agreement provided for their return in parts, is also the basis for applying the consequences of the borrower’s violation of its obligations.
In this case, the lender has the right to demand, along with the payment of penalty interest, early repayment of the loan. Also, if this is provided for in the agreement, the borrower, in addition to interest, also pays a penalty for failure to fulfill obligations (clause 4 of Article 395 of the Civil Code). The penalty can be established in the form of a penalty or a fine.
So, an agreement to lend money at interest is usually concluded in writing. The main thing is that when drawing up such an agreement, clearly state all the essential terms of the transaction - this will help to avoid a number of misunderstandings regarding the period for returning the borrowed funds, as well as the amount and frequency of interest payments for the use of the money lent. You can find a sample loan agreement with interest on our website.
Here you can view and download a loan agreement template for 2018 in a format convenient for you. Remember that you can always get our legal assistance, including filling out this form, by contacting us at the phone numbers listed on the website.
In the preamble, in relation to the borrower - an individual, passport data and data on his state registration as an individual entrepreneur are indicated.
In clause 1.1, clause 2.2. The loan amount and interest are indicated in words.
In the case of a cash settlement procedure, clauses 2.1 and 2.3 are subject to corresponding changes. For example: "2.1. The loan is issued to the Borrower in cash from the Lender's cash desk on the day of signing this agreement." Etc.
In clause 2.2. interest may accrue from another date agreed upon by the parties.
If there is no need to recalculate interest upon early repayment of the loan, clause 2.5 is subject to corresponding changes. For example: "2.5. In case of early repayment of the loan, the amount of interest is not recalculated. Interest must be paid in full in accordance with clause 2.2. simultaneously with the early repayment of the loan."
It is permissible to include provisions on insurance for the fulfillment of obligations in the contract.
New sample 2019
LOAN AGREEMENT No. _______
_________________ "___"__________20___
Hereinafter referred to as the Lender, represented by ____________________________, acting on the basis of the Charter, on the one hand, and the individual entrepreneur __________________________, hereinafter referred to as the Borrower, on the other hand, have entered into this agreement as follows.
1. SUBJECT OF THE AGREEMENT
1.1. The Lender transfers to the Borrower the ownership of funds in the amount of _________________________________, and the Borrower undertakes to return to the Lender the same loan amount by "_____" _________ 200___ and pay interest for the use of funds in accordance with the payment schedule (Appendix No. 1 to this agreement).
1.2. The loan amount is issued for use for the purposes of ____________________________________________________________.
Changing the purpose of using the loan is not allowed.
2. CONTRACT PRICE AND PAYMENT PROCEDURE
2.1. The loan is issued to the Borrower by non-cash transfer of funds to account No. ____________________________. The date of conclusion of this agreement is the day of receipt of funds to the Borrower’s current account.
2.2. If the funds have not been credited to the Borrower’s account by ___________________, the agreement is considered not concluded and does not give rise to any legal consequences. In this case, the Borrower is obliged to return the received amount to the Lender within ____ days after they are received into the Borrower’s account.
2.3. The date of execution by the Borrower of this agreement to repay the loan amount and transfer the fee for using the loan is the date of receipt of funds to the Lender's current account No. ________________________________.
2.4. The terms and amounts of loan repayment and interest payments for using the loan are determined in Appendix No. 1, which is an integral part of this agreement.
2.5. In case of early repayment of the loan, the amount of interest is recalculated by the Lender only in the event of a significant repayment. A significant advance is considered to be a return of at least 50% of the next payment amount, including interest according to the schedule (Appendix No. 1 to this agreement), no later than ____ calendar days before the payment date. When recalculating interest, appropriate changes are made to the specified Appendix, which are documented in a new edition of the Appendix.
3. RIGHTS AND OBLIGATIONS OF THE PARTIES
3.1. The lender has the right:
3.1.1. Check the intended use of the loan.
3.1.2. As a matter of priority, with notice to the Borrower, but without his consent, assign the amounts received from him to the repayment of interest for which the payment deadline has come.
3.1.3. Terminate the agreement early and demand from the Borrower early fulfillment of obligations to repay the loan, including interest for its use and penalties in the following cases:
Using the loan for purposes other than its intended purpose;
Delay by the Borrower in repaying the loan (part of the loan) or non-payment of interest (part of the interest) for more than ______ days;
Loss of loan security or a significant deterioration in its conditions that occurred through no fault of the Lender;
If the Borrower is presented with demands, incl. claims for the payment of a sum of money or for the recovery of property, the amount of which jeopardizes the Borrower’s fulfillment of obligations under this agreement;
Making a decision to deprive the Borrower or terminate the right to engage in entrepreneurial activity.
Requirements for early fulfillment of these obligations by the Borrower must be satisfied within 14 days from the date of its notification of early termination of the contract.
3.1.4. Fully or partially assign your rights under this agreement to another person without the consent of the Borrower.
3.2. The lender is obliged:
3.2.1. Inform the Borrower about delays in repaying the loan or paying interest within three days after the deadline for fulfilling the obligation.
3.2.2. Provide the Borrower with information and consulting services to ensure proper use of the loan.
3.2.3. Within 5 calendar days, notify the Borrower in writing about the transfer of rights under this agreement to the new lender.
3.2.4. In case of significant early repayment of the loan in accordance with clause 2.5. of this agreement, recalculate the amount of interest and sign a new version of Appendix No. 1.
3.3. The borrower has the right:
3.3.1. Repay the loan amount ahead of schedule.
3.3.2. Require the Lender to recalculate the interest amount in accordance with clause 2.5. of this agreement and the signing of a new edition of Appendix No. 1.
3.4. The borrower is obliged:
3.4.1. Use the loan amount only for the purposes specified in clause 1.2.
3.4.2. Upon first request, within 3 calendar days, provide the Lender with all information about the actual use of the loan, financial condition, solvency, as well as provide access to inventory and other property related to the implementation of this agreement.
3.4.3. Timely return to the Lender the received loan amount and pay interest in the amounts and within the terms specified in Appendix No. 1 to this agreement.
3.4.4. Return the loan amount and interest in the amount of ____________ percent per annum of the loan amount for the period of actual use of the loan in the event of early termination of this agreement.
3.4.5. Within three calendar days, notify the Lender in writing of the occurrence of the circumstances specified in clause 3.1.3. of this agreement.
3.4.6. Pay the Lender a fine and penalties in the cases specified in Part 4 of this agreement.
3.5. The parties undertake to maintain confidentiality and not to disclose trade secrets related to the execution of this agreement.
4. RESPONSIBILITY OF THE PARTIES
4.1. In case of improper use of the loan, the Borrower shall pay the Lender a fine in the amount of the loan amount used for other purposes.
4.2. In case of delay in payment of interest for the use of the loan and (or) delay in repayment of the loan (part of the loan), the Borrower shall pay penalties in the amount of _____% of the unpaid loan amount and interest for each day of delay in payment until the relevant obligation is fulfilled.
4.3. Payment of a fine and (or) penalty does not relieve the Borrower from fulfilling other obligations under this agreement.
4.4. In other cases of violation of obligations under this agreement, the parties are liable in accordance with the legislation of the Russian Federation.
5. VALIDITY OF THE AGREEMENT
5.1. This agreement is considered concluded from the moment the funds are issued to the Borrower in accordance with clause 2.1. agreement and is valid until full repayment of the loan amount, full repayment of all interest, fines and penalties.
5.2. The Agreement may be terminated unilaterally at the initiative of the Lender in the cases provided for in clause 3.1.3 of this Agreement.
6. OTHER CONDITIONS
6.1. Any changes and additions to this agreement will be made by the parties in writing by their mutual consent.
6.2. Controversial issues arising under this agreement during its execution , submitted for consideration to the court __________________.
6.3. The Agreement is drawn up in two copies having equal legal force, one each for the Lender and the Borrower.
7. ADDRESSES AND DETAILS OF THE PARTIES TO THE AGREEMENT
Lender Borrower
Signatures:
APPENDIX No. 1
TO LOAN AGREEMENT No. ________,
concluded between _____________________________________________
city ____________ "____"__________20__
1. Payment schedule
|
DATE OF PERFORMANCE OF OBLIGATIONS BY THE BORROWER |
PRINCIPAL AMOUNT (RUB) |
ACCRUED INTEREST (RUB) |
TOTAL AMOUNT (Principal + interest) (RUB) |
2. This Appendix to the loan agreement No. ________ is an integral part thereof.
3. This Appendix may be changed by adopting a new version signed by the parties to the agreement.
4. Addresses and details of the parties:
Lender Borrower
____________________ ______________________
The parties to the loan agreement are the lender - the person providing the loan, and the borrower - the person receiving it. In this case, the lender and borrower can be individuals, legal entities and individual entrepreneurs in any combination.
The loan agreement is concluded in writing in two copies, one for each of the parties.
The subject of the loan can be both cash and any objects/things that have generic characteristics.
The subject of the loan agreement is the transfer by the lender of funds or other things to the borrower on the terms of repayment, urgency and, as a rule, payment.
Types of loan agreements
Based on the composition of the parties to the agreement, the following types of agreements can be distinguished:
It is also worth highlighting the classification according to the criterion of payment:
Despite the fact that an interest-free loan agreement is directly provided for in Article 809 of the Civil Code of the Russian Federation, the application of these agreements in practice has difficulties associated with their interpretation by tax authorities. However, this does not apply to gratuitous agreements between the company and its shareholders.
Read more about this in the article Calculations under a loan agreement.
Another classification of the agreement is the presence/absence of a purpose in the loan agreement:
Loan agreement term
Since the Civil Code does not limit the term, the lender decides for how long he wants to provide the loan to the borrower.
If the term under the loan agreement is not established at all, then the borrower is obliged to repay the loan to the lender within 30 calendar days from the date the lender submits the corresponding demand. In this case, interest is accrued from the day the loan is issued until the day it is repaid.
Differences between a loan agreement and a credit agreement
Unlike the provision of loans, the provision of credit is a licensed activity. The main creditors in Russia are undoubtedly banks.
Loans can be issued by any company, individual entrepreneur and even individual. At the same time, the loan agreement has the same criteria as a loan - urgency, payment and repayment.
Loan repayment according to agreement
Repayment under the loan agreement occurs under the conditions specified in the agreement. At the same time, the agreement may not contain a repayment period - in this case, the parties should be guided by Article 810 of the Civil Code of the Russian Federation: the lender makes a demand for repayment of the loan, and the borrower satisfies this demand within 30 days.
The agreement may provide for any procedure for repaying the loan:
- monthly or quarterly in equal amounts
- according to individual schedule
- at the end of the term
An interest-free loan can be returned to the lender ahead of schedule without any restrictions or sanctions, provided that the lender is notified in advance. If the loan is interest-bearing, the agreement may provide for special conditions for repayment of the loan, including a ban and/or penalties.
If the borrower does not repay the loan within the specified time frame, the lender has the right to charge penalties. The amount of penalties should be stipulated in the signed agreement, otherwise the lender has the right to charge penalties in the amount of the discount rate of the Central Bank of the Russian Federation.
The document form “Loan Agreement (sample)” belongs to the heading “Loan Agreement, Loan Receipt”. Save the link to the document on social networks or download it to your computer.
Loan agreement
______________ "___" ___________ 20__
________________________________________________________________________,
we refer to __ hereinafter as the “Lender”, represented by ___________________________,
(position, full name)
acting on the basis of _____________________________________________,
(charter, regulations, power of attorney)
on the one hand, and _____________________________________________________,
(name of organization, full name of citizen)
we refer to __ hereinafter as the “Borrower”, represented by ______________________________,
(position, full name)
acting on the basis of _________________________________, on the other hand,
have entered into this agreement as follows:
1. Subject of the agreement
1.1. The Lender transfers funds into ownership of the Borrower
in the amount of ___________________ rubles, and the Borrower undertakes to repay
To the lender the same amount (loan amount) upon expiration of the term
of this agreement or, with the consent of the Lender, ahead of schedule, and pay
interest on the loan amount in the amounts and manner established by this
agreement.
1.2. Interest on the loan amount is set at ___% per annum
and are subject to payment by the Borrower _______________ (monthly, quarterly)
until the day the loan amount is repaid.
1.3. The loan amount is transferred by the Lender to the Borrower in cash
on the day of conclusion of this agreement in full. Parties
agreed that the signing of this agreement by the Borrower confirms
actual receipt of the loan amount in full.
1.4. The loan amount is considered repaid by the Borrower at the time of
transfer to the Lender or crediting of the corresponding funds to
his checking account.
1.5. Rights and obligations of the parties other than those established herein
agreement are determined according to the general rules of the Civil Code of the Russian Federation.
2. Duration of the contract
2.1. This agreement comes into force on the date of receipt by the Borrower
loan amount, i.e. on the day it is signed by the parties.
2.2. This agreement is concluded for a period of up to _____________, i.e. V
on the day of expiration of the specified period, the loan amount must be repaid
Borrower to Lender; payments must be completed on the same day
interest on the loan amount.
2.3. Until the parties complete fulfillment of their obligations,
arising from this agreement, the relevant terms of the agreement
retain their strength.
3. Borrower's responsibility
3.1. In the event that the Borrower does not repay the loan amount on time,
this amount is subject to interest payment for the unlawful use of someone else's
in cash. The interest rate is determined by the existing one in place
residence (location) of the Lender at the bank discount rate
interest on the day of repayment of the loan amount. Interest is paid from the date
when the loan amount was due to be repaid, before the date of its repayment
To the lender, regardless of the payment of interest on the loan amount established in
clause 1.2 of this agreement.
3.2. In addition to paying interest for the use of other people's money
funds in case of failure to repay the loan amount on time, the Borrower is obliged
compensate the Lender for losses caused by violation of the terms of this
agreement, in the part not covered by interest for the use of other people's money
means.
4. Dispute resolution
4.1. Disputes and disagreements that may arise during execution
of this agreement will, if possible, be resolved through negotiations
between the parties.
4.2. If it is impossible to resolve disputes through negotiations
the parties submit them for consideration to ____________ (indicate the name and
location of the court).
5. Addresses and bank details of the parties
Lender: __________________________________________________________
Borrower: _________________________________________________________________
This agreement is drawn up in two copies in Russian. Both
copies are identical and have the same force. Each side
There is one copy of this agreement.
Signatures of the parties
Lender __________________________________ M.P.
Borrower _____________________________________ M.P.
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A loan agreement is a document guaranteeing the absence of any problems with the return of the borrowed amount of money. Drawing up a loan agreement is a simple procedure, for which it is not necessary to contact a lawyer. Such a document clearly indicates all the terms of the loan, including the amount and period for repayment of funds.
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How to draw up a loan agreement correctly
This document must indicate that one party is temporarily transferring ownership of a certain amount of money to the other party. At the same time, the other party confirms this fact and undertakes to return the agreed amount within the specified period. If the loan provides for the repayment of money with interest, this fact is also indicated in the contract.
Experts argue that the loan agreement must also contain information about sanctions for failure to repay the money within the specified period or for not repaying the full amount. That is, for such violations, a penalty, a fine, etc. can be imposed. Next, indicate the responsibility of the parties in circumstances of force majeure. Such circumstances include military actions, earthquakes, various epidemics, etc. Describe in detail the obligations of the parties in the event of force majeure; this may include a deferment of the return of money or the absence of overpayment of interest. The document must also indicate the procedure for resolving possible disputes; conflict resolution can occur with the help of lawyers or through negotiations. In order for the document to have legal force, you must indicate your data (registration address, residential address, last name, first name, patronymic), date and signature.
Only a loan agreement can serve as a guarantee of the return of the borrowed money, so in this case it is better to avoid verbal agreements. As a last resort, the transfer of money can be carried out in the presence of witnesses who, if necessary, will confirm this fact in court. It is important to remember that repayment of debt in an oral agreement must also occur in front of witnesses.
If the borrower does not return the money within the period specified in the agreement, the loan agreement will serve as confirmation that you are right in court proceedings. However, the document will only have legal force if it is drawn up correctly. If you doubt the correctness of the loan agreement, you should contact professional lawyers. Only in this case are you guaranteed to be able to defend your rights in court.