The concept of «loan» is quite extensive. In the simplest version, a loan is the transfer of ownership of funds and other tangible assets from the lender to the borrower on the terms of See here subsequent return after a certain time period. In a more detailed sense, the definition of a loan can be formulated as follows:
A loan is a type of relationship in the course of which one party transfers to the disposal of another money or other values formed by generic characteristics: weight, measure, number, etc. the Borrower undertakes to return a similar amount or other property in the amount, of the same kind and quality, in which it was taken for temporary use.
As for the services of MFIs and other financial institutions, in this sense, a loan is a form of cash flow provided on a paid basis, at interest and for a certain period. Such services can be public and commercial, consumer and banking, mortgage and international, etc.
Civil-legal relations in case of a paid loan are fixed by the relevant agreement, which is signed by all the parties involved.
A distinctive feature of the loan, as a type of legal relations: the borrower for a certain time is the owner of the subject of the agreement, i.e. it can dispose of at its own discretion, money or other tangible assets. A loan agreement is a written agreement between the two parties to provide cash or other valuables. It is if the amount of the loan or the value of tangible assets exceeds 1000 rubles.
The content of the loan agreement — a set of certain conditions. The General terms of the agreement include:
Essential — the subject of the contract, the terms of repayment.
Conditional — the period of refund and the presence of the Commission.
Random — entered into the contract by agreement of both parties.
In addition, the agreement specifies the details of both parties. For example, if we are talking about loans in microfinance institutions, the parties to the contract are, as a rule, an individual and a legal entity.
Required data for such an agreement:
Full Name of the borrower, information from his passport, address and residence.
Name of lender (Jur. persons.)
Full Name of the General Director of the MFI, the owner of the company or other person entitled to participate in transactions.