velkakirjoja

Velkakirjoja are written documents in which a debtor acknowledges owing a sum of money to a creditor. In Finnish civil law, velkakirja is a private debt instrument used to formalize loans or other monetary obligations between individuals, companies, or organizations. It serves as written evidence of the debt and its terms and can facilitate enforcement in civil proceedings, though it is not a public deed by itself.

A velkakirja typically includes the parties’ full names and addresses, the exact amount owed in euros, the due date or a repayment schedule, and any interest or default-interest terms. It should indicate the place and date of signing and is generally signed by the debtor; the creditor’s signature can strengthen the document. The agreement may also specify collateral or guarantees if applicable. While not legally mandatory, a clear written record reduces disputes over amount and timing.

Enforceability and use: A velkakirja is a private instrument that can be used as evidence in court to prove the existence and terms of the debt. If the debtor does not pay, the creditor may obtain a court decision and, following that, undertake enforcement measures in accordance with Finnish law. The creditor’s claim may be affected by prescription if no action is taken within the applicable time limits.

Limitations: The contract must comply with applicable laws, including restrictions on interest. In case of dispute, the creditor bears the burden of proving the debt and its terms, while the debtor may challenge the amount, timing, or existence of the obligation.