A loan is a situation in which one party takes material wealth from the other, pledging to return it within a specified time. Such relations are contractual in nature and are regulated by civil law.
How are credit relations regulated?
When transferring from one entity to another some more or less large material wealth, a loan agreement is usually concluded. This is a common civil contract that governs the procedure for the emergence of credit relations, as well as the process of returning funds. In addition, the contract must indicate the rights and obligations of each of the parties.
Knowing that a loan is a great responsibility, the legislator has established the mandatory conclusion of a loan or loan agreement when transferring funds or other goods, the cost of which is estimated at a rate above 10 minimum wages. The Civil Code of the Russian Federation clearly indicates who can be a borrower. Individuals with full civil legal capacity and legal entities who do not have current accounts blocked, that is, have no past due payments, can borrow money or material goods, bear responsibility for them.
Loan agreement: classification
A loan agreement has certain characteristics that characterize the essence of each particular loan. Firstly, it is always real, that is, it always acquires legal force in fact. For example, the agreement of June 9 will not have the legal essence, which will indicate that citizen P. will borrow on June 20 ... rubles from citizen M. Rights and obligations of the parties to such an agreement will arise only on June 20, when the actual transfer occurs funds for use by the borrower.
Two possible forms for concluding a contract are also provided. We have already mentioned that necessarily in writing loans are fixed, the amount of which exceeds 10 minimum wages. Also, when applying for a credit relationship, one of the parties of which is a legal entity, a written form is required even if the loan is 1 ruble. The law does not directly speak about the oral form of the contract. The specified mandatory amount for a written contract implies that with a smaller loan amount it is not necessary to fix it like that. For example, why waste paper if a person borrowed 100 rubles from a friend?
Types of loans
Loans and borrowings, depending on the goals and some other characteristics are divided into certain types. Let's talk more specifically about each of them.
For many people, a loan is a targeted loan. What does this mean? Targeted include consumer loans in household appliances stores. The client needs to purchase a laptop, but he does not currently have personal funds to purchase this product. Then a person comes to the store, writes out an invoice and turns to the representative of the bank, who is in the store. It is clear that a loan in the amount of the cost of a particular model of goods is targeted, because the client needs this product, and he acquires a specific thing. Inappropriate loans are also allocated. In this case, the client just needs funds, but not for the implementation of a specific goal. For example, the salary should be on the 31st, and it is delayed, and you need to somehow live until you receive the funds. These include:
- loans from friends;
- pawnshop loans;
- credit cards.
The bank sets a certain limit on the credit card, which the client can use at his own discretion. A person always has several options for using these tools.For example, you can go to the store and buy food. You can also pay utility bills with a credit card. Many bank customers receive credit cards in order to simply have extra funds in case of force majeure. When laying products in a pawnshop, the client also does not declare the purpose of obtaining a loan.
In addition, the state may be the debtor of the population. This type of loan is called a "state loan."
What should be prescribed in the loan agreement?
A loan to an individual, as we have already emphasized, is often executed in writing. There are mandatory points that must be displayed in the loan agreement:
- Loan terms. The client must know for how long he receives the funds.
- Loan amount. The lender then will not be able to demand a refund of a larger amount than he provided, plus the interest and commission fees for using the loan stipulated by the contract.
- Dispute Resolution Procedure. It is good when the client pays the loan on time or the lender does not violate his obligations to the client. In case of problems, all disputes are resolved in the manner prescribed by the contract.
Conclusion
A loan is a very common phenomenon today, because it is often a very effective means of solving financial problems and a good impetus to development.