The Short Term Loan Agreement is commonly used in Belgium for temporary financing needs, typically ranging from a few months up to one year. It serves businesses, organizations, or individuals requiring quick access to capital for working capital, project financing, or bridging loans. The document must comply with Belgian financial regulations, including the Belgian Civil Code, Code of Economic Law, and relevant EU directives. This agreement type is particularly important in the Belgian market where short-term financing plays a crucial role in business operations. The document includes essential provisions for loan amount, interest calculation (following Belgian interest rate regulations), repayment terms, security requirements if applicable, and default remedies. It's structured to ensure enforceability under Belgian law while protecting both lender and borrower interests.
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1. Parties: Identification of the Lender and Borrower with full legal names, addresses, and registration details if companies
2. Background: Brief context of the loan arrangement and purpose
3. Definitions: Key terms used throughout the agreement, including 'Business Day', 'Interest Rate', 'Loan Amount', 'Maturity Date'
4. The Loan: Core terms including amount, purpose, and drawdown conditions
5. Interest: Interest rate, calculation method, and payment schedule in compliance with Belgian interest rate regulations
6. Repayment: Terms and schedule for repayment of the principal amount
7. Representations and Warranties: Standard declarations by the Borrower about their legal and financial status
8. Borrower's Covenants: Ongoing obligations of the Borrower during the loan term
9. Events of Default: Circumstances that would trigger default and remedies available to the Lender
10. Governing Law and Jurisdiction: Confirmation of Belgian law governance and jurisdiction for disputes
11. Notices: How formal communications between parties should be made and delivered
12. Execution: Signature blocks and execution requirements
1. Security: Include when the loan is secured by any assets or guarantees
2. Early Repayment: Include when early repayment is permitted, specifying any penalties or conditions
3. Assignment and Transfer: Include when either party may need to transfer their rights or obligations
4. Tax Provisions: Include when specific tax considerations need to be addressed
5. Data Protection: Include when personal data processing is involved, ensuring GDPR compliance
6. Force Majeure: Include when specific circumstances beyond parties' control should be addressed
7. Anti-Money Laundering Provisions: Include when required by the nature of the parties or transaction size
1. Repayment Schedule: Detailed schedule of repayment dates and amounts
2. Drawdown Notice Form: Template for requesting disbursement of the loan
3. Conditions Precedent Documents: List of required documents to be provided before loan disbursement
4. Security Details: If applicable, detailed description of any security or collateral
5. Fee Schedule: If applicable, breakdown of any fees associated with the loan
6. Compliance Certificate: Template for periodic confirmation of compliance with loan terms
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