Unsecured Loan Agreement

An Unsecured Loan Agreement suitable for individuals and businesses wishing to lend or borrow money.

A Loan Agreement is a contract entered into between a Lender and a Borrower, stipulating the terms and conditions of the loan. 

What is an Unsecured Loan Agreement? 

An unsecured Loan Agreement, also known as a personal loan, is where the loan is not backed by any form of collateral and the Lender has no entitlement to any of the Borrower's assets in the event of the Borrower failing to repay the loan. 

Who is it suited to? 

This agreement is ideal for either individuals including friends and family or businesses whereby money is being loaned to the Borrower and is to be paid back to the Lender in instalments, with or without interest.

This agreement contains the following clauses:

1. Definitions

2. Interpretation

3. Loan

4. Indebtedness and Repayment

5. Acceleration

6. Notices

7. Breach

8. Governing Law and Jurisdiction

9. Counterparts

10. Signatories