It is strongly recommended that the agreement be notarized or, at the very least, certified and signed by an impartial third party. A person could characterize the credit agreement as a debt or a promise of payment. Another might qualify the document as a loan of need or a fixed-term loan. If the loan terms are included in the loan title, the title of the document is a secured loan or an unsecured note. All these latter titles refer to the same type of legal documentation. A credit agreement template is a completed form. You can set the parameters of the loan or the amount of money a person lends. A lender also defines the repayment terms. These documents help lenders and loans avoid confusion. The borrower is held in accordance with the signed agreement, with all the penalties or sentences pronounced against him if the funds are not fully repaid.

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