Just a super quick note to say how very happy I am with using the lawlive product. I just got an urgent change made to a document - I thought it was a big ask - but you delivered. You must be very pleased with the admin team you have.
It is important to have formal evidence of any loan and the terms on which the money is lent. By having a written Agreement it is easier to enforce the terms on which the loan was made and it is evidence that it was a loan and not a gift. If the loan is to carry interest then the interest rate should be inserted. If the loan is to be repaid on a fixed date or on the occurrence of an event then that date or event should also be included.
Guarantees: where a loan has previously been made without a 3rd party guarantee, a subsequent request for a guarantee may be made. Our templates may be used in this situation and may also be used where the guarantee is being provided contemporaneously with the loan.