ettevõtluskrediidileping

ettevõtluskrediidileping is the Estonian term for a business loan agreement. It is a legally binding contract between a lender, typically a bank or financial institution, and a borrower, which is a business entity. This agreement outlines the terms and conditions under which the borrower receives funds for business purposes.

The contract details the principal amount of the loan, the interest rate that will be applied, and the repayment schedule. It also specifies the loan term, which is the duration over which the borrower is expected to repay the loan. Other important clauses often included are information on any collateral or security required by the lender, such as business assets or personal guarantees, and the consequences of default.

Furthermore, the ettevõtluskrediidileping will typically cover aspects like the purpose of the loan, any fees associated with the loan (e.g., origination fees, late payment fees), and the conditions under which the loan can be disbursed or recalled. It is crucial for both parties to thoroughly understand all provisions before signing, as it forms the legal basis for the borrowing and lending relationship. The agreement aims to protect the interests of both the lender by ensuring repayment and the borrower by providing necessary capital for their business operations or growth.