Borrowed money from a private person should be taken with the obligatory execution of a loan agreement or an ordinary receipt. It should be noted that when applying for a loan by drawing up a receipt, relations with the lender will be regulated by the provisions of civil law.
Many people prefer bank loans to ordinary loans between individuals, which allow you to quickly and without much hassle get the necessary amount of money, do not incur unnecessary costs for paying commissions and interest. In this case, lenders are usually found among friends or private investors. In the first case, the borrower can even agree on an interest-free loan, while in the second one will have to pay interest, which in most cases significantly exceeds the rates on bank loans. The main issue for borrowers and lenders is the correct design of the relevant relationship, which is designed to insure both parties from troubles.
How to draw up a loan agreement?
A loan agreement with an individual must be concluded in a simple written form in all cases when the amount of the transferred funds exceeds one thousand rubles. Along with the agreement, a receipt is usually drawn up, which confirms the actual transfer of the agreed amount from the lender to the borrower. The legislator allows the parties to formalize such relations with one receipt, however, in this case, the borrower and the lender are actually deprived of the opportunity to provide additional conditions (for example, to establish interest for the use of funds). Therefore, only general rules of civil law will apply to such a loan. You can limit yourself to a receipt when money is borrowed from relatives, friends or acquaintances.
What should be stipulated in the loan agreement?
In a loan agreement between individuals, it is imperative to determine the amount of payment for the use of funds. So, the loan will automatically be considered interest-free only if its size does not exceed five thousand rubles. With a larger amount of funds transferred, interest will accrue on the loan amount, if the parties have not agreed on this condition in the agreement. The amount of automatically accrued interest is equal to the current refinancing rate. Another important condition that is recommended to be provided in the loan agreement is its targeted nature. Often, money is transferred for a specific purpose, the violation of which by the borrower may become the basis for the lender to reclaim the transferred amount before the expiration of the contract. It is rather difficult to agree on all the listed conditions in a regular receipt, therefore, if necessary, it is recommended to draw up a full-fledged loan agreement with a private person.
