I. LOAN AGREEMENT — PARTIES
II. LOAN AMOUNT
III. INTEREST
IV. REPAYMENT
V. DEFAULT
VI. GOVERNING LAW
This Personal Loan Agreement is made on [Agreement date], in [City / town], [Country], between:
LENDER: [Lender full name], address: [Lender address].
BORROWER: [Borrower full name], address: [Borrower address].
Lender agrees to lend to Borrower the sum of [Loan amount] [Currency] ([Loan amount in words]), to be disbursed by [Disbursement method] on or around [Disbursement date].
Interest terms: [Interest]. Annual rate: [Annual interest rate (% if applicable)]%.
Note: For interest-free loans between related parties in the US, IRS Applicable Federal Rate (AFR) rules may apply. Both parties should consult a tax advisor.
Borrower agrees to repay the full amount plus any accrued interest by [Full repayment due date], via [Repayment method].
Payment to: [Bank / account details for repayment].
If Borrower fails to repay by the due date, Lender may demand immediate payment of the outstanding balance and any accrued interest, and may pursue legal remedies in the courts of [Governing state / jurisdiction].
This Agreement is governed by the laws of [Governing state / jurisdiction]. Both parties sign voluntarily acknowledging this is a binding legal obligation.
Signed by both parties on [Agreement date].
LOAN AGREEMENT — PARTIES
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