Document background
The Simple Loan Agreement is a fundamental legal instrument used in Denmark for documenting lending arrangements between parties. This document is particularly suitable for straightforward lending situations, whether in a commercial or private context, where the primary terms involve loan amount, interest, and repayment schedule. It complies with Danish legal requirements, including the Danish Contracts Act (Aftaleloven) and Interest Act (Renteloven), while maintaining clarity and usability. The agreement is designed to protect both lender and borrower interests by clearly stating all essential terms, obligations, and rights. It's commonly used for business loans, personal loans, and inter-company financing, providing a legally sound framework for the lending relationship while being simpler than more complex credit facility agreements.
