When drafting the credit agreement, you need to decide how the credit should be repaid. These include the date of repayment of the loan, as well as the method of payment. You can choose between monthly payments or a package. A credit agreement is a written agreement between a lender and a borrower. The borrower promises to repay the credit according to a repayment plan (regular payments or lump sum). As a lender, this document is very useful because it legally obliges the borrower to repay the loan. This loan agreement can be used for commercial, private, real estate and student loans. For more information, read our article on the differences between the three most common forms of credit and choose who is right for you. When it comes to private credit, it may be even more important to use a credit agreement. .
