According to Chapter XII of People's Republic of China (PRC) Contract Law
loan agreement
Article 196 A loan contract is a contract in which the borrower borrows money from the lender, repays the loan at maturity and pays interest.
Article 197 A loan contract shall be in written form, unless otherwise agreed between natural persons.
The contents of the loan contract include the loan type, currency, purpose, amount, interest rate, term and repayment method.
Article 198 When concluding a loan contract, the lender may require the borrower to provide a guarantee. The guarantee shall comply with the provisions of the Guarantee Law of People's Republic of China (PRC).
Article 199 When concluding a loan contract, the borrower shall, at the request of the lender, provide the true information about the business activities and financial situation related to the loan.
Article 200 The loan interest shall not be deducted from the principal in advance. If the interest is deducted from the principal in advance, the loan will be repaid according to the actual loan amount and the interest will be calculated.
Article 201 Where the lender fails to provide the loan on the agreed date and amount, thus causing losses to the borrower, it shall compensate for the losses.
If the borrower fails to collect the loan according to the agreed date and amount, it shall pay interest according to the agreed date and amount.
Article 202 Lenders may inspect and supervise the use of loans as agreed. The Borrower shall regularly provide the Lender with relevant financial and accounting statements and other materials as agreed.
Article 203 Where the borrower fails to use the loan according to the agreed purpose, the lender may stop issuing the loan, recover the loan in advance or terminate the contract.
Article 204 The loan interest rate of financial institutions handling loan business shall be determined according to the upper and lower limits of the loan interest rate stipulated by the People's Bank of China.
Article 205 The borrower shall pay interest within the agreed time limit. If there is no agreement or unclear agreement on the time limit for paying interest, and it cannot be determined according to the provisions of Article 61 of this Law, if the loan period is less than one year, it shall be paid together with the loan; If the loan term is more than one year, it shall be paid at the end of each year; if the remaining term is less than one year, it shall be paid together with the loan.
Article 206 The borrower shall repay the loan within the agreed time limit. If the term of the loan is not agreed or clearly agreed, and cannot be determined according to the provisions of Article 61 of this Law, the borrower may return it at any time; The lender may urge the borrower to return it within a reasonable period of time.
Article 207 If the borrower fails to repay the loan within the agreed time limit, it shall pay the overdue interest in accordance with the agreement or the relevant provisions of the state.
Article 208th If the borrower prepays the loan, unless otherwise agreed by the parties, the interest shall be calculated according to the actual loan term.
Article 209 The borrower may apply to the lender for extension before the repayment period expires. If the lender agrees, it can be extended.
Article 210 A loan contract between natural persons shall take effect when the lender provides the loan.
Article 211 If the loan contract between natural persons does not stipulate or clearly stipulates the payment of interest, it shall be deemed as non-payment.
If the loan contract between natural persons stipulates to pay interest, the loan interest rate shall not violate the relevant provisions of the state on limiting the loan interest rate.
The sample contract is as follows:
Company loan
Borrower: _ _ _ _ _ _ (hereinafter referred to as Party A)
Lender: _ _ _ _ _ _ _ Bank (hereinafter referred to as Party B)
Party A needs RMB working capital for contracting _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
1. Party B agrees to issue a loan of RMB (in words) only to Party A according to the approved loan application.
2. Party B shall take the detailed payment plan and specific use list submitted by Party A as the basis for payment review and as an annex to this contract.
Three. The term of the loan provided by Party B is _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _. Party A promises to pay off all the principal and interest of the loan from the date of signing this contract to the date of _ _ _ _ _ _ _ _ _ _ _.
Four. Within the repayment period agreed in this contract, the loan interest shall be calculated at the monthly interest rate of _ _ _ _. Over the repayment period, the overdue part will be charged with _ _ _ _ _ _ _% interest; If the loan is used for other purposes, interest of _ _ _ _% will be charged on the misappropriated part. The loan interest is charged quarterly.
Verb (abbreviation of verb) For the project for which Party B provides loans, if Party A terminates the foreign construction contract, it shall immediately notify Party B and pay off the loan principal and interest.
The guarantor of intransitive verb Party A is _ _ _ _ _ _ _. If Party A fails to repay the loan in full at maturity, the guarantor of Party A shall bear joint and several repayment responsibilities.
7. This contract shall come into effect after being signed and sealed by both parties and the guarantee unit of Party A, and shall become invalid after all the loan principal and interest are paid off. This contract is _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
Party A (seal): _ _ _ _ _ _
Party B (Seal): _ _ _ _ _ _
Legal representative (signature): _ _ _ _ _ _
Legal representative (signature): _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
Signing place: _ _ _ _ _ _
Signing place: _ _ _ _ _ _
Guarantor (seal): _ _ _ _ _ _
Legal representative (signature): _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
Signing place: _ _ _ _ _ _
The basic contents of IOUs include: creditor's name, loan amount (local and foreign currency), interest calculation, repayment time, liquidated damages (deferred repayment), dispute resolution method, debtor's name, loan date and other elements. As long as you have the creditor's name, loan amount, debtor's name and loan date (although it was added later), it meets the main requirements of the loan, so it has legal effect. Once a dispute arises, it can be used as evidence to claim creditor's rights to the people's court, and the people's court will accept it.
Extended data
The IOU should clearly write down these contents:
1, lender
2. Currency
3. The loan amount (the amount should be expressed in words and figures, and should be consistent. Some people have disputes and lawsuits because of inconsistent amounts. )
4. Use (cannot be used for illegal activities, such as borrowing money knowing that the other party is borrowing money for illegal activities, this creditor's right is not protected by law. )
5. Interest rate (unlike interest, x% interest rate is the annual interest rate and x‰ interest rate is the monthly interest rate. The agreed interest rate is protected by law within 4 times of the bank loan interest rate in the same period, and some of them are not protected by law. )
6. Repayment time (the starting time that affects the limitation of action)
7. Borrower (the borrower and the name of the borrower should be consistent with the name on my resident identity card)
8. Borrow time (lunar or solar calendar). If there is a witness or guarantor, let him sign, but it is necessary to specify whether it is a witness or a guarantor to avoid disputes.
It's best to make a copy of the iou after writing it, and keep the original and the copy separately, so it's best to have a copy even if the original is missing.
Be careful in the process of paying back the money. It's better to have someone else present when you pay back the money. Lenders should ensure that they can get the loan back when they give it to borrowers. Some borrowers tore up the loan or even ate it after defrauding the loan, but did not pay back the money, which led to litigation. But the borrower paid back the money and wanted to get back the original loan, but he couldn't get back the copy. The loan was going to be burned. There was once a case where the borrower paid back the money but couldn't get back the original loan, which led to the lender.
Sue with the original loan. Someone sued for tearing up the pasted IOUs. One party claimed that the IOUs had been repaid and torn up on the spot, while the other party claimed that the IOUs had been torn up by fraud but not paid back. It was difficult for the judge to tell the truth.
When the loan amount is large, it is best to sign a loan agreement to clearly stipulate the rights and obligations of both parties.
Also pay attention to the difference between IOUs and IOUs. In a broad sense, IOUs include IOUs, which are simple loans. IOUs can be caused by buying and selling, compensation, unjust enrichment and other reasons, and the calculation of the limitation of action is also different.