What is the form of personal loan agreement in 2022? Is the personal loan agreement in Vietnam required to be notarized?
What is the latest form of personal loan agreement in 2022? What is the content of a personal loan agreement in Vietnam?
Pursuant to the provisions of Article 398 of the Civil Code 2015, the contract contents are prescribed as follows:
Article 398. Contents of contracts
1. The contracting parties may agree on the contents of a contract.
2. A contract may have the following contents:
a) Subject matter of the contract;
b) Quantity and quality;
c) Price and method of payment;
d) Time limit, place and method of performing the contract;
dd) Rights and obligations of the parties;
e) Liability for breach of contract;
g) Methods of settlement of disputes.
Thus, the content of the contract is agreed upon by the parties. You can refer to the form of personal loan agreement as follows:
View details and download the form of personal loan agreement in 2022: Click here.
What is the form of personal loan agreement in 2022? Is the personal loan agreement in Vietnam required to be notarized? (Image from the internet)
What is the maximum interest rate for a personal loan in Vietnam?
Pursuant to the provisions of Article 468 of the Civil Code 2015 on interest rates are as follows:
Article 478. Interest rates
1. The rate of interest for a loan shall be as agreed by the parties.
The rate of interest for a loan agreed by the parties may not exceed 20% per year, unless otherwise prescribed by law. According to actual conditions and at the proposal of the Government, the Standing Committee of National Assembly shall adjust the above interest and send report to the National Assembly at the latest session.
If the agreed interest exceeds the maximum interest prescribed in this Clause, the agreed interest shall become invalid.
2. Where parties agree that interest will be payable but fail to specify the interest rate, or where there is a dispute as to the interest rate, the interest rate for the duration of the loan shall equal 50% of the maximum interest prescribed in Clause 1 of this Article at the repayment time.
Thus, rate of interest for a loan agreed by the parties may not exceed 20% per year, unless otherwise prescribed by law.
Loans with higher interest rates than prescribed may be handled in accordance with the law depending on the seriousness of the violation.
Is the personal loan agreement in Vietnam required to be notarized?
According to the provisions of Article 385 of the Civil Code 2015:
Article 385. Definition of civil contract
Civil contract means an agreement between parties in relation to the establishment, modification or termination of civil rights and obligations.
At the same time, according to the provisions of Article 463 of the 2015 Civil Code."
At the same time, based on the provisions of Article 463 of the Civil Code 2015 as follows:
"Section 463. Contracts for loan of property
Contract for the loan of property means an agreement between parties whereby a lender delivers property to a borrower. When the loan falls due, the borrower must repay the lender property of the same type in accordance with the correct quantity and quality, and must pay interest if so agreed or so provided by law.
In addition, Clause 2, Article 119 of the Civil Code 2015 stipulates as follows: In cases where it is provided for by law that a civil transaction must be expressed in writing, notarized, authenticated, registered or permitted, such provisions must be complied with.
Thus, at present, the law does not require that a personal loan contract be made in writing and must be notarized and authenticated. However, in order to protect the interests, the borrower or lender has the right to request the contract official to borrow money personally.
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