Document background
The Employee Loan Agreement is a vital document used when an employer wishes to provide financial assistance to an employee through a formal loan arrangement under Irish law. This agreement is typically used for various purposes such as employee relocation, education support, or personal hardship assistance. The document ensures regulatory compliance with Irish financial services legislation, employment law, and tax requirements while protecting both parties' interests. It includes comprehensive details about the loan terms, repayment structure through salary deductions, interest calculations, and provisions for early repayment or employment termination. The agreement is designed to be compliant with the Consumer Credit Act 1995 and relevant Central Bank regulations, while also addressing employment law considerations specific to the Irish jurisdiction.
