Casual Loan Agreement
A Loan Agreement regulates the relationship and repayment terms between a lender and borrower of money.
Although there is no legal requirement that a loan agreement be in writing, this is the only way the terms of the loan can be properly governed, with no chance of ambiguity.
This Casual Loan Agreement is a far shorter, less strict version of the longer loan agreement we have available. This might be better suited to loans between friends or close parties for example.
Included in this Contract
All the basic aspects of a loan agreement including:
- Events of default and repercussions if the borrower fails to make repayments on time;
- Dispute resolution processes;
- Certain undertakings and warranties provided by the borrower;
- Cost recoupment in the event of the borrower defaulting and the lender seeking legal help to recover the amounts owing.
And gives you the possibility to choose variations of the following clauses:
- Capital amount lent;
- Interest rates of repayment;
- Repayment dates.
If you are in need of a Loan Agreement that is a lot stricter, take a look at:
How does it work?
When you start the questionnaire, you will be guided through the questions with the helping hand of explanations and additional information. Based on your answers, the Loan Agreement will be tailor-made by our system. If you log in or create an account, you can also save the progress of the questionnaire and come back later.
We want you to be happy with your purchase. If you are not completely satisfied, we will provide a full refund.
Want to test the process of our contract engine first? Go through the process and create an example document, click here
Read more about How to Reduce and/or Postpone your Rental Payments due to Covid-19/Lockdown, click here