Låneavtalet

Låneavtalet, or loan agreement, is a legally binding contract between a lender and a borrower that governs the lending of money. It specifies how much is lent, how it is repaid, the interest charged, and the conditions for disbursement. The agreement creates enforceable rights and obligations and is interpreted under the contract and civil law of the applicable jurisdiction.

Essential elements include the parties' identities, the principal amount, the interest rate and method of calculation, the repayment schedule and term, and the purposes for which funds are used. It may also cover collateral or guarantees, covenants, events of default, remedies, governing law, dispute resolution, and provisions on assignment and amendments.

Common forms include secured and unsecured loans, consumer versus commercial loans, fixed or floating rates, amortizing or bullet structures, and revolving credit facilities. The chosen form affects risk, cost, and enforcement options.

Obligations typically center on the borrower's duty to repay principal and interest as agreed, and the lender's duty to provide funds. Default triggers remedies such as penalties, acceleration, or collateral enforcement. Many jurisdictions require clear disclosures of total cost and annual percentage rate for consumer loans.

Drafting låneavtalet requires clear terms and careful due diligence. Compliance with consumer protection, disclosure requirements, and financial regulations helps prevent disputes. In cross-border cases, governing law, forum, currency, and enforcement considerations are important.