A loan contract form is a form of a loan contract which is formed in the case when two parties agree to sign a certain number of terms and conditions as per which one party offers a loan or agrees to provide a loan to the other party. These contract forms consist of legally enforceable clauses which must be agreed upon by both the involved parties. Loan contract forms are formal documents which help the parties to have a record of payment details etc. Given below is a sample of one such loan contract form which can be used by any person.
Sample loan contract form:
This loan contract has been formed by and between two parties LENDER which agrees to offer a loan amount to the other party which is the BORROWER.
The details of both the parties are mentioned as follows:
The LENDER agrees to lend an amount of $5000 to the BORROWER for a term of 12 months.
Signatures of the parties: