On processing an interest-bearing loan between legal entities in 2021

What is a loan agreement between legal entities

This form of legal relations between enterprises provides for an agreement in which one of the parties transfers and the other accepts ownership of money or goods. A loan agreement between legal entities additionally implies that:

• Upon expiration of the established period, the borrowing organization must return the same amount of financial resources or valuables (the same amount of bricks, concrete blocks, etc.).
• Such a service may be paid in the form of a percentage. It is calculated in the same units (that is, money or a specific product) as the loan issued

Conditions of conclusion

The legal requirements for processing a loan between two organizations have their own characteristics that must be taken into account when drawing up official documents. It is not necessary to have the agreement certified by a notary office, but this can be done at the request of one of the parties. The law talks about the mandatory written form of the contract. If it is not formalized, and the money (or goods) is transferred to the borrower, the tax authorities will consider this unjust enrichment. A properly drafted document should:

• Include details of the parties.
• Comply with legal norms and requirements, be a multifunctional document that provides for all the features of the transaction.
• To avoid disputes, directly indicate the consideration of the transaction - whether payment in the form of interest for the service provided is necessary or not.

Moment of entry into force of the agreement

Issuing and receiving a loan between legal entities has an important feature that distinguishes it from bank loans. The agreement comes into force only at the moment of delivery of money or goods from the lender to the borrower and is valid for the specified period. Such a document can be signed in advance by the parties. If for some reason the creditor does not transfer funds or valuables, then the agreement is considered not to have entered into force

Legislation on loan agreements between legal entities

The provisions on the loan agreement are established in Ch. 42 of the Civil Code of the Russian Federation. In accordance with these norms, the subjects of the agreement in question can be both citizens and organizations. Meanwhile, with regard to the execution of loan contractual documents, civil law provisions also apply, which apply to transactions of any kind.

The legislation does not contain restrictions on the amount of loan agreements between legal entities. However, it is necessary to take into account the provisions of other regulations, for example:

1. If the loan amount reaches or exceeds 600,000 rubles, then a mandatory state control procedure may be required in relation to such transactions in accordance with sub. 4 paragraphs 1 art. 6 of the Law “On Combating the Legalization (Laundering) of Income...” dated 07.08.2011 No. 115-FZ
2. The higher the loan amount in the case of a transaction with interest for the use of loan funds, the higher the income tax that will have to be paid in compliance with the requirements of tax legislation.

How to give a loan to a legal entity

To borrow money, the owners of two companies:

• agree on essential and additional conditions;
• draw up a written agreement and, if desired, have it certified by a notary;
• make sure not to exceed the limits on the number of loans and cash amounts;
• pay taxes: on profits from interest or on material benefits under an interest-free agreement.

It is more profitable for the borrower to enter into an agreement for at least 5% per annum in order to avoid paying tax on material benefits, but in this case the lender pays income tax. Money that a company borrows from another can only be spent on business, even if the loan agreement is not for a specific purpose.

Types of loan agreements between legal entities

It is impossible to say unequivocally how to correctly draw up a loan agreement between legal entities. Agreements vary in availability:

• loan purposes,
• interest for the use of money.

Purpose of the loan. The agreement can be targeted or non-targeted. Under a non-purpose agreement, the company disposes of the money as it pleases. If the loan is targeted, the agreement specifies what the money can be spent on.

For example, the lender wants the borrower not to fly to a resort, but to buy equipment for the business and start earning money. If a business owner receives a targeted loan, but chooses a resort, the lender can demand the money back and go to court for a penalty.

Interest. Loans can be interest-bearing or interest-free. If the lender lends money at interest, the rate is specified in the agreement. The average rate in commercial banks is 15% per annum.

If a company takes out an interest-free loan, it means it receives a material benefit. The amount of benefit is ? the key rate of the Central Bank, for January 2021 it is 5%. By law, you need to pay tax on benefits - 35% monthly.

For example, a company borrows 1 million rubles for a year, without interest.

Material benefit: 1 million * 5% = 50,000 rubles.

Tax on material benefits: 50,000 * 35% = 17,500 rubles monthly or 210,000 rubles per year. It turns out that by the end of the loan term the company pays 1 million rubles to the lender and 210,000 rubles to the budget. Overpayment - 21%.

To conclude a loan agreement between legal entities without material benefit, you must indicate in the agreement that the loan is interest-bearing. The minimum interest rate should exceed? Central Bank rates, that is, 5%.

Interest is not an essential condition of the contract, but if you do not specify it, then by law the loan is considered interest-bearing, and the rate is equal to the key rate of the Central Bank - 7.75%.

At what rate should loans be issued to legal entities in order not to overpay?

In order not to receive material benefits and not to pay 21% to the budget, you should draw up an interest-bearing loan agreement with a minimum rate. The rate at which there is no material benefit is ? from the refinancing rate. As of January 2021, it is equal to 7.75%, which means that money should be given at 5.2% per annum or higher. For a loan of 300,000 rubles, the borrower overpays 15,600 rubles - four times less than with an interest-free agreement.

If a company lends money at interest, it earns income. The company declares income and pays income tax - up to 20% depending on the tax form.

An interest-free loan is also taxed if the legal entities are interdependent and the loan size exceeds 1 billion rubles. Companies are considered interdependent when at least 25% of one company is owned by another. In this case, the lender pays tax on lost profits: he could have invested 1 billion rubles and earned money, but gave the money for free use.

Basic rules for drawing up a document

On the basis of a loan agreement between legal entities, the transfer and return of borrowed funds is ensured. Therefore, its preparation must be approached responsibly.

Important! It is easy to find a standard document on the Internet, after which it is redesigned in accordance with a specific individual case.

The subject of the agreement can be not only the amount of money in Russian rubles, but also foreign currency, precious metals and stones, securities or other documents. During the transfer of these items, the requirements and conditions of the law must be observed.

The agreement comes into force only at the moment when the company acting as the borrower receives the full amount into its account from another legal entity. Therefore, even if the documents are signed by representatives of both companies, without transfer of funds they can be easily disputed.

During the compilation process, a sample form is usually used, and the important points to fill out are:

• the place where the document was drawn up, as well as the date of its creation;
• the full names of each legal entity participating in the transaction, as well as the full names of all existing founders;
• the type of loan is indicated, since it can be interest-free or with mandatory interest accrual on the borrowed amount;
• the exact period during which the borrowing company is obliged to repay the funds is specified;
• it is clarified in what ways it is allowed to repay the loan, since for this the entire amount can be paid in full on a certain date or transferred in monthly payments;
• the exact amount of interest is prescribed if they are set by the lender;
• it is indicated whether any penalties, interest or penalties will be charged in case of violation of the main points of the agreement by the borrower company;
• there must certainly be a clause regarding the responsibility of each party;
• the conditions under which termination of the agreement is allowed, as well as unforeseen situations allowed for this, are specified;
• The details of each company are entered, and representatives put their signatures on the document.

Important! A standard cash loan agreement differs from an interest-free loan in that it necessarily indicates the amount and specifics of calculating interest on the borrowed amount.

When such agreements are drawn up, it is taken into account that the transferred amount cannot exceed 100 thousand rubles if the money is transferred in cash. If this condition is violated, then each party will have to pay a fine, and its amount varies from 40 to 50 thousand rubles. A separate proceeding is initiated against an organization that does not have a cash register at all. Therefore, most often companies prefer to transfer funds by non-cash means.

In accordance with the law, there are special requirements for documenting such a transaction. The agreement must be in writing. There are special requirements for the content of this document; in the absence of at least one of the specified points, it may be declared invalid:

• Loan amount (given in numbers and words).
• Deadline for repayment of funds received (if this point is omitted, then by default the loan must be repaid after 30 days).
• Interest rate for use (it can be zero for a gratuitous loan).
• Repayment procedure (partially or fully, is it possible to pay early).
• Special conditions for issuance (presence of collateral, guarantors, etc.).
• Responsibility of the borrower (for example, the amount of the penalty).
• Details of the parties to the agreement.
• Date (in this case, the agreement comes into force from the moment of transfer of funds).
• Signatures of the directors of both companies.

Subject of the agreement

In accordance with current legislation, several types of agreements between legal entities are possible. The most common are:

• Cash loan. With this service, one organization transfers a pre-agreed amount of money to another for temporary use. As a rule, this service involves payment - remuneration to the lender in the form of a percentage of the amount issued, which is necessarily specified in the document. But a situation is also possible when an interest-free loan agreement is concluded between legal entities. This option for processing a transaction, along with visible financial benefits, also brings special registration of tax payments and increased attention from regulatory authorities.
• Commodity loan. This type of loan implies that one person receives from another not money, but material objects and mutual settlements are also made in them (for example, a construction organization receives 10,000 concrete blocks from a partner, and after 2 months, by agreement, returns 10,100 units of the same to him products).
• Loan in tranches. The peculiarity of this type of loan is that the amount determined by the agreement is not issued at a time, but in parts as needed, and the borrower saves on interest payments. In essence, this service is identical to several issued loans, but it involves a simpler registration, because the agreement is concluded only once.

Rights and obligations of the parties

A careful study of the relevant articles of the Civil Code of the Russian Federation before a loan agreement between legal entities is signed will save the lender and the defendant from unpleasant surprises. One of the most common mistakes is the opinion that if the lending rate is not documented, then the loan received is interest-free.

According to the law, everything is completely different. Article 809 of the Civil Code of the Russian Federation says that if the agreement does not indicate the actual amount of interest, then it is equal to the refinancing rate of the Central Bank of Russia at the time of payment of the debt. Paying for a loan service in this amount (for example, for April 2021, the indicated value is 7.25%) will not always be convenient for the borrower. It would be much better for him to indicate the rate in advance in the agreement, or clearly indicate that the loan is interest-free

Responsibility of the parties

A loan agreement concluded between legal entities must necessarily include a description of the sanctions that apply to the borrower if the debt repayment terms are violated. Depending on the terms of the transaction, the amount may be returned:

• entirely;
• in parts;
• with an initial payment of interest every month or quarter.

The amount of the fine depends on the timing of the delay in the amount. It is beneficial for the borrower if penalties are calculated not for the entire loan amount, but only for the unpaid/delayed portion. The specificity of such lending is that the conditions here are not as harsh as for bank lending, and often penalties are not applied if the delay:

• has a short period (several days);
• is of a one-time nature;
• is due to a valid reason, and the creditor has no claims.

Force majeure and dispute resolution

Many borrowers believe that such a clause is necessary for the contract, because it once again protects their rights in the event of force majeure circumstances (natural disasters, social disturbances, etc.). But the usual reference to Article 401 of the Civil Code of the Russian Federation, which deals with force majeure circumstances and the liability of the parties to the transaction, will suffice. Wherein:

• If there are extraordinary and unavoidable circumstances that interfere with the fulfillment of obligations, the party who has not fulfilled the obligation is considered innocent.
• This article of the Civil Code of the Russian Federation specifically emphasizes that the lack of money from the debtor cannot be qualified as a force majeure circumstance.
• The agreement may provide for the borrower’s guilt in all cases of violations in debt repayment (without any mitigating circumstances), but such a provision can be easily challenged in arbitration court.

Termination of the agreement

As a general rule, the borrower’s obligations are considered fulfilled at the time of final payment of the debt (including if this is done ahead of schedule). In this state of affairs, the agreement terminates, but in some cases it can be terminated before the loan is repaid. Such situations include violation of loan repayment terms, for example:

• delay in making monthly payments as scheduled;
• refusal to pay interest;
• changing target conditions, etc.

Terms of a loan agreement between legal entities

The company cannot borrow more than 100,000 rubles in cash; such loans must be issued through a current account. If you break a large loan agreement into several small ones, the tax office will see this as an attempt to circumvent the law and issue a fine. Both companies will pay 40,000 - 50,000 rubles to the budget.

If the loan size is more than 600,000 rubles, the borrower registers the agreement with the Federal Service for Financial Monitoring. If this is not done, you will have to pay a fine: up to 200,000 rubles for a legal entity and up to 20,000 rubles for the general director.

An organization cannot issue more than four loans during a year without a license for lending activities. For violation of this law, the manager is liable under Article 172 of the Criminal Code of the Russian Federation - a fine, correctional labor or prison.

A legal entity can spend a loan only for business needs, even if the loan is not for a specific purpose. For example, the general director borrows money and buys a Gazelle. He can give the car for transportation of goods within the company, but cannot organize a personal move with it.

Interest-bearing loan agreement between legal entities

Art. 808 of the Civil Code of the Russian Federation obliges the transaction to be formalized in writing if at least one of the parties is a legal entity. An essential condition of the loan agreement, which must be agreed upon in the document, is the subject of the transaction. If the subject is not agreed upon, the transaction is considered not concluded (clause 1 of Article 432 of the Civil Code of the Russian Federation).

The subject of a loan transaction, both with and without remuneration in the form of interest on the loan, is the transfer of funds in Russian currency (except for cases provided for by the Law “On Currency Regulation and Currency Control” dated December 10, 2003 No. 173-FZ) or other things determined by generic characteristics.

The percentage clause of the loan agreement is assumed unless otherwise expressly stated in the legislation or the contractual document (Clause 1 of Article 809 of the Civil Code of the Russian Federation). In this case, the amount and procedure for paying interest must be specified in the terms of the agreement. However, if the contract document does not contain agreement on these conditions, then:

1. The amount of interest paid must correspond to the refinancing rate (bank interest rate) in force at the location of the lending organization on the day the debt is repaid or part of it is paid.
2. Interest is paid every month until the debt is repaid.

When concluding a loan agreement between legal entities, it is necessary to take into account that the constituent documents of organizations may establish a ban on loan transactions. In this case, concluding a transaction is impossible. In addition, when concluding a transaction, the sole executive body (director, president, general director), if the relevant provisions are provided for by the organization’s charter, must agree with the founders on the possibility of concluding a loan agreement with another legal entity.

Late repayment of a loan and late payment of interest - consequences under Article 811 of the Civil Code of the Russian Federation

In practice, there are often situations when the borrower does not pay both the main loan and the amount of interest accrued for its use in a timely manner. If the debt is not repaid on time, 2 options are possible, depending on whether the parties to the agreement provide for special sanctions for late payment or not:

1. If the procedure and amount of the penalty, in accordance with paragraph 4 of Article 395 of the Civil Code of the Russian Federation, are determined in the agreement of the parties, the rules specified in the contract apply.
2. If the parties do not determine special sanctions for overdue debt, the provisions of Articles 395 and 811 of the Civil Code of the Russian Federation apply.

According to paragraph 1 of Article 811, if the loan is not repaid, the borrower must pay so-called penalty interest, accrued from the day when he was supposed to fulfill the obligation until the moment of actual payment.

It is important to remember that penalty interest is accrued only on the principal amount of the loan, in accordance with paragraph 5 of Article 395 of the Civil Code of the Russian Federation. Exactly the same position is reflected in paragraph 15 of the resolution of the Plenum of the Supreme Arbitration Court of the Russian Federation dated October 8, 1998 No. 14. Moreover, their accrual on the amount of interest payable is possible only if the parties directly indicate such a possibility in their agreement, realizing the consequences of this step. In the absence of an indication of the amount of penalty interest to be paid, the rules of paragraph 1 of Article 395 of the Civil Code of the Russian Federation are applied, according to which the penalty is calculated based on the key rate of the Central Bank of the Russian Federation.

Interest-free loan agreement between legal entities

Along with interest-bearing loan transactions, it is permitted to conclude interest-free loan agreements between legal entities. The order of their registration has the following features:

1. First of all, the legislation establishes a declarative procedure for such transactions. This means that the contract must contain a clause stating that no interest is charged for using the loan or that the transaction is interest-free. Otherwise, even if the contract does not contain the condition in question, the contract is assumed to be interest-bearing and gives rise to consequences in the form of the possibility of collecting interest from the borrower. In addition, the lender will be responsible for taking into account interest amounts when calculating income tax.
2. In addition to the interest-free clause, it is advisable to include in the contractual document a provision that the provision of the loan is not intended to make a profit for the borrower.

Tax consequences of interest-free loans in a controlled transaction

If the issued interest-free loan relates to a controlled transaction, for example, one of the parties is not a resident of the Russian Federation, then Art. 269 ​​of the Tax Code of the Russian Federation. When calculating income tax, the lender must take into account income in the form of unearned interest. To calculate the amount of interest, it is necessary to take into account the requirements of clauses 1.1, 1.2 of Art. 269 ​​of the Tax Code of the Russian Federation. The actual interest rate (FP) on the loan must be compared with the established interval (see table below).

The lender can recognize actual income on the loan if FP>MIN. The borrower may recognize the actual loan expense if FP<MAX. For an interest-free loan, the FI is equal to 0, therefore, we calculate taxable income at the minimum interval rate (MIN), the expense on the received interest-free loan will be equal to 0.

Loan in tranches (agreement between legal entities)

A tranche is a part of cash, securities or property that is transferred as part of a transaction. The conclusion of a tranche agreement between legal entities assumes that the subject of borrowing is provided to the borrower in parts, and not one-time. Moreover, these parts can be issued both according to applications that the borrower will submit, and according to a schedule that the lender and borrower approved in advance.

Application for provision of tranche

The application is usually attached to the contract. There are no legal requirements for completing such an application; usually the amount of borrowing that is requested is noted there, plus the details by which it is transferred. The court regards the document as evidence of the provision of the loan.

It is necessary to conclude and execute a transaction taking into account the following:

• a fee may be charged for changing the tranche return schedule;
• the absence of an application may be regarded by the court as evidence of non-conclusion of an agreement;
• any new tranche must be taken into account as a new debt obligation and the key rate of the Central Bank of the Russian Federation, current on the date of raising funds, must be applied to it (Letter of the Ministry of Finance of the Russian Federation dated October 4, 2018 No. 03-03-06/2/71370);
• The lender and borrower have the right to refuse to provide borrowing in whole or in part (Clause 3 of Article 807 of the Civil Code of the Russian Federation). In order to refuse, the lender needs circumstances indicating a failure to repay the loan on time. For such a refusal, the borrower must notify the lender about it before the deadline when he (according to the agreement) must return the borrowed item, and in the absence of this deadline - at any time (before receiving the loan), unless otherwise provided by legal acts or the agreement;
• when the borrowing is repaid in installments, then if the borrower violates the deadline established for repaying the next part of the loan, the lender has the right to demand early repayment of the entire remaining amount plus interest for the use of the loan, which is due at the time of its repayment (clause 2 of Article 811 of the Civil Code of the Russian Federation).

Interest for using a loan under Article 809 of the Civil Code of the Russian Federation

Paragraph 1 of Article 809 of the Civil Code of the Russian Federation indicates that the lender, having transferred money to the borrower, acquires the right to receive interest for the use of it, unless otherwise specified in the agreement of the parties. Thus, a cash loan for an organization is assumed to be reimbursable in all cases where the text of the agreement does not directly indicate that it is interest-free.

The absence of an agreement regarding interest in the text of the agreement does not automatically make it interest-free, as is directly stated in Article 809 of the Civil Code of the Russian Federation. In this situation, only the procedure for their determination indicated in paragraphs 1 and 2 of Article 809 of the Civil Code of the Russian Federation will apply. According to the provisions of these paragraphs, the borrower will need to pay interest every month using the lender's funds in an amount determined based on the key rate of the Central Bank of the Russian Federation at the time of transfer of the payment or part thereof. However, if the participants in the transaction are individuals or individual entrepreneurs, and the loan amount is less than 100 thousand rubles, then the agreement is considered interest-free, unless otherwise expressly stated in it.

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However, it is worth mentioning a special case when the subject of the loan is not money, but things. In such a situation, according to paragraph 4 of Article 809 of the Civil Code of the Russian Federation, in the absence of an agreement between the parties on the issue of interest, the contract is automatically assumed to be interest-free.

Interest on early loan repayment

Articles 809 and 810 of the Civil Code of the Russian Federation closely connect another key (but legally non-essential) condition of the agreement with interest under the agreement - the repayment period of the debt. According to paragraph 1 of Article 810 of the Civil Code, a loan can be fixed-term (with a fixed repayment date) or perpetual (in this case, the lender should notify the borrower of the debt repayment date 1 month in advance or within another period specified in the agreement).

It is important to remember that depending on the need to pay interest, the ability to repay the loan early will be determined. Thus, according to Article 810 of the Civil Code of the Russian Federation, if the loan is interest-free, then the borrower has the right to repay it ahead of schedule at will.

At the same time, if a transaction between organizations involves the payment of interest, repayment of the debt ahead of schedule is possible only with the approval of the lender. Such a restriction is determined by the observance of his financial interests, since if the loan is repaid early, he will receive a smaller amount of compensation for the use of his money than he expected when concluding the transaction. If an interest-bearing loan is provided to an individual for personal needs, he can return it by notifying the lender 30 days before the return.

Paragraph 4 of Article 809 of the Civil Code of the Russian Federation states that in case of early repayment of a loan, the borrower is required to pay interest up to and including the date of actual repayment of the loan. Thus, the possibility of repaying an interest-bearing loan early will be determined solely by the financial interest of the lender, who has the right to give permission for early repayment, thereby not receiving part of the expected income, or not to give such permission in order to receive the full amount of interest under the agreement.

Commodity loan between legal entities

A commodity loan agreement between legal entities is concluded in writing (Clause 1, Article 808 of the Civil Code of the Russian Federation). Moreover, you can choose how to conclude it:

• as a separate document with signatures of participants;
• through the exchange of letters, emails, telegrams.

Items received from the lender must be described in as much detail as possible (indicating their name, qualities, completeness, packaging, etc., as well as their quantity). If the quantity is not determined, then in order to recognize the conclusion of the transaction, it is necessary to prove the actual transfer of the borrowed property in this quantity (by the borrower’s receipt or other document). It is also necessary to specify the procedure for returning things to the lender. This is how things that are characterized as goods and subject to turnover are transferred.

Commodity loan agreements are available to any entity. Exceptions are possible when the subject of the agreement is things whose circulation is limited, since their transfer requires special powers. The rules of paragraph 3 of Art. apply to commodity loan agreements. 807 of the Civil Code of the Russian Federation.

The term is usually not an essential term of loan agreements. When there is no provision about it in the text of the agreements or when determining the period by the moment of demand, the borrower will have 30 days from the moment the lender submits a demand for repayment of the loan to satisfy it.

If the text indicates the consideration of the transaction, in addition to the type (money or in kind) plus the amount of interest, the payment mode should also be agreed upon. Otherwise, the situation will be resolved through Art. 809 of the Civil Code of the Russian Federation.

Debt forgiveness between legal entities

After the end of the loan agreement, the lender may require the borrower to fully repay the existing debt.

To do this, the legal entity that issued the loan sends a written notice to the other party demanding payment of the debt. The borrower must fulfill all the conditions specified in the notice within one month.

If the loan amount is not repaid or not fully repaid, the lender files a lawsuit against the borrower with a similar demand to return the entire amount of the debt.

The borrower can sue within three years after the end date of the contract, because this is the statute of limitations that applies under loan agreements.

If the borrower does not repay his debt in full within three years, he includes the remaining amount as income and pays income tax on it.

Sometimes, after the end of the loan agreement, the borrower finds himself on the verge of bankruptcy, and he simply does not have the necessary financial resources to repay the loan amount.

In this case, the lender can only forgive the debt or part of it (Article 415, Part 1 of the Civil Code of the Russian Federation), but this is only possible if the interests of other persons who are associated with the lender’s property are not seriously infringed.

There is no legally established procedure for forgiving a borrower's debt. However, this decision must be formalized by a written agreement of the parties, which will clearly define all the details and the amount of the debt that the borrower no longer needs to repay.

If the loan agreement between legal entities was certified by a notary, then the additional agreement must be certified by him.

The Supreme Arbitration Court of the Russian Federation in letter No. 104 dated December 21, 2005 stated that the decision to forgive a debt cannot be considered a gift, since it most often carries only the desire of the lender to repay the remaining part of the debt or other debts that the given person has. recipient of loans.

In market conditions, enterprises can attract borrowed funds in the form of loans from legal entities. Such relationships are more beneficial for business entities compared to bank loans and are formalized in writing by a loan agreement.

A loan agreement is sometimes drawn up in the form of a promissory note or bonds. The loan may be gratuitous and the parties do not have any tax obligations, or it may also include the payment of interest, in which case it is reflected as accounts payable in the accounting accounts.

A loan between legal entities allows enterprises to conduct business activities more efficiently and minimizes their additional costs associated with servicing it.

Customer reviews of loans from the Alfa company are given in the article: Alfa loan. How to find private loans without being scammed against a receipt, see here.

There is information about the procedure for obtaining a targeted loan for maternity capital.

Loans between individual entrepreneurs

An individual entrepreneur can provide a loan to another individual entrepreneur with or without interest, but should not do this often, since otherwise a microfinance organization will have to be established. With the interest option, you will need to pay income tax. For example, when using the simplified tax system, lenders pay 6% of profits. The borrower pays for the interest-free loan.

For loan agreements to be valid, they note:

1. Dating (with document number).
2. Who is participating?
3. Amount of debt and currency.
4. Interest rate or necessarily no interest rate.
5. Debt repayment period.
6. How will repayment occur?
7. Rights and obligations of participants.
8. How disputes are resolved.
9. Details plus visas of the parties.

Repayment procedure and interest payment

A properly drafted loan agreement between legal entities should contain a section that states how the borrower will pay. The most common option is when the entire amount is paid at a predetermined interval, and accrued interest is added to it. But there may be other schemes, for example, the agreement does not set a strict deadline for the return of funds, and the creditor organization can claim the debt if necessary. As a general rule, the debt in this case must be repaid within 30 days.

Sample contract

To draw up an interest-bearing loan agreement between legal entities, a standard loan agreement form is used.

This means that the document will list all the same provisions:

• subject of the agreement (the loan amount, interest rate and payment terms are indicated here);
• rights and obligations of the parties;
• duration of the contract;
• additional conditions, etc.

A sample interest-bearing loan agreement between legal entities is available.

Among other things, the following annexes can be drawn up to an interest-bearing loan agreement between organizations:

• loan disbursement schedule;
• loan repayment schedule;
• interest payment schedule.

Additional documents usually include:

• additional agreement;
• protocol of disagreements;
• Protocol for reconciliation of disagreements.

Tips for drawing up an agreement

When forming this contract, it is advisable for each party to take into account several recommendations:

• It is absolutely important to check the entered passport data of the representative of the organization, as well as information regarding the company, since if the information is false or erroneous, then there is a high probability that the document will be declared void;
• the contract must contain information that funds have been transferred;
• if a loan agreement is drawn up in foreign currency, then the exchange rate of a certain bank must be indicated, and the method of repaying the money must also be prescribed;
• in some cases, an interest-free loan may be challenged by the tax service, which considers it a way to obtain additional benefits in the form of non-payment of interest - it is worth consulting with a company lawyer if the amount of such a loan is significant;
• all money or valuables are certainly transferred from one company to another in the presence of witnesses.

Thus, it is not difficult to draw up an agreement between two legal entities regarding the transfer of a specific amount of money from one company to another. For this purpose, a standard document is used, filled out in accordance with the basic requirements and recommendations. Thanks to its presence, the transaction is considered official, and there are no problems for the lender when returning its funds from an unscrupulous borrower.