Credit organizations (for example, a bank) provide
to the borrower, who is obliged to return these funds to
accumulated interest. The loan agreement is different from the loan agreement of its
compensatory basis. The main principles of such allocation of funds
is repayment, pay and urgency. The parties are a credit institution and a borrower. The agreement provides for bilateral obligations under which the creditor's obligations are to provide money, and the borrower to accept and repay the loan with interest.
The loan agreement is described in 820 articlesOf the Civil Code of. The document must be concluded only in a written format. A gross violation of these conditions entails the invalidity of the document. As a rule, banks use such forms of contracts that are not subject to change, agreement and discussion. An individual can only join an already existing form of contract. Moreover, the form of the document is the main condition for the agreement of the parties, without which it is impossible to conclude a contract.
The loan agreement is concluded withan agreement on opening a loan account, a surety agreement and an urgent obligation. At the same time the borrower is obliged to pay the tariff for the service of the Barnkovo account. In the event that the terms of the pledge of immovable property are included in the contract, it must be notarized and registered in accordance with the Law on Registration of the Right to Real Estate.
The loan agreement, according to the Law on Bankingactivity, provides for mandatory payment of interest for the provision of funds. The amount of interest deductions is regulated only by the contract and is one of its essential conditions. An important point is that interest is accrued from the moment of receipt of money to the borrower's account, and not from the moment of signing the contract.
The content of the loan agreement includes provisions for securing the repayment of the loan in the event of an untimely return. The Bank has the right to request
from the borrower paying for increased interest andforfeits. The term of granting a loan preserves the borrower's right to refuse credit. To do this, he must send a corresponding notification to the credit institution. At the same time, the borrower is not obliged to provide the bank with grounds for its refusal to receive cash.
Termination of the loan agreement is possible as withthe borrower's side, and by the credit institution. In accordance with Article 813 of the Civil Code of the Russian Federation, the bank has the right to demand from the borrower an early repayment of the loan in the event of deterioration of the conditions or loss of security of the loan agreement. When granting a targeted loan, when it is used for unspecified purposes, the contract may also be terminated by the credit institution.
The basis for the application of penalties maybecome a violation of the timing of the return of the principal or some part of the loan. In this case, the bank has the right to demand repayment of the entire remaining loan amount plus all interest due.
The legislation of the Russian Federation clearly defines the forma loan agreement, which must be drawn up in writing. Its structure, however, is not clearly spelled out. The loan agreement must include, without fail, the terms of the loan, the subject matter of the agreement, the rights and obligations of the parties, their legal addresses, signatures and requisites. However, in some cases, when the financial interests of a credit institution are aimed at taking into account the interests of a large client, the terms of loan agreements can be significantly revised.