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The loan contracts and security measures when lending are two essential elements in financial transactions. The more you understand the regulations on property loan procedures as well as the loan contract drafting process, the better your rights will be guaranteed. Through the following article, let’s join Long Phan to learn about the process of drafting loan contracts and security measures when lending.
When lending money, there are some things to pay attention to so that businesses do not violate the law and get “debt defaulted”:
According to Article 468 of the Civil Code 2015, the provisions on loan interest rates for parties when there is an agreement are: In case the parties have an agreement on interest rates, the agreed interest rate must not exceed 20%/year of the loan money, unless other relevant laws provide otherwise.
In case the parties have an agreement on interest payment, but the interest rate is not clearly defined and there is a dispute over the interest rate, the interest rate is determined at 50% of the interest rate limit above.
Pursuant to Article 292 of the Civil Code 2015, measures to ensure the performance of obligations when lending include:
Pursuant to Article 463, Article 464, Article 465, Article 466 of the Civil Code 2015, the content of the loan contract includes:
When drafting loan contracts and security measures when lending, the following issues should be kept in mind:
Drafting a loan contract and choosing the right security measure to include in the contract are two steps that require a deep understanding of civil law and related regulations. Therefore, if you are looking for a reliable contract drafting procedure consultant, you can refer to the services at Long Phan. We will provide customers with a comprehensive service package, including:
If you need assistance in drafting loan contracts and security measures when lending, please contact Hotline 0906735386. Long Phan is always ready to assist you in completing procedures quickly and effectively.
Note: The content of the articles published on the website of Long Phan Investment Consulting Company is for reference only regarding the application of legal policies. Depending on the time, subject, and amendments, supplements, and replacements of legal policies and legal documents, the consulting content may no longer be appropriate for the situation you are facing or need legal advice on. In case you need specific and in-depth advice according to each case or incident, please contact us through the methods below. With our enthusiasm and dedication, we believe that Long Phan will be a reliable solution provider for our clients.
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