Money loan

Money is borrowed and lent on a large scale whether or not on current account. This can involve very small but also large amounts. In all cases, it is good if the borrower and the lender know where they stand. In most cases, the person lending the money also wants to actually receive it back, in many cases with interest.

To create that clarity, it is important to put the money loan agreement or current account relationship in writing. With that written record, it is wise to also think about the situation if the interest or repayments are not paid or not paid on time. Whether there should be additional collection possibilities. What about the burden of proof if both parties disagree.

You can also choose to have the money loan agreement recorded in a notarial deed. This has a binding evidential value between the parties. As an additional advantage, the notarial deed offers an enforceable title. If the debtor does not fulfil his obligations, a notarial deed allows an immediate execution order to be placed, without having to go to court. All that has been attached can then be immediately monetised. Notarial attachment then saves the cost of levying conservatory attachment, court fees and lawyer's fees.

As additional security for the debtor's fulfilment of his obligations, additional securities can also be given. Examples include: surety, joint and several liability, pledge or mortgage.

For more information on establishing money loan agreements and current account relationships and obtaining additional security, please contact us. We will be happy to help you.