Detailed contact details: information about the borrower, lender, guarantors, experts and witnesses is needed here. Information about their official names, nationalities, physical postal addresses, gender, age and family is provided. This is important for localization and tracking when needs arise. A credit agreement is a legally binding agreement that helps define the terms of the loan and protects both the lender and the borrower. A credit agreement will help set the terms in stone and protect the lender if the borrower is late, while helping the borrower meet contractual terms such as the interest rate and repayment term. If the loan is for a large amount, it is important that you update your last wish to indicate how you want to manage the outstanding loan after your death. Private credit – A loan between family and friends. The borrower agrees that, until full payment of the loan, the loan will be repaid by _____________ Agreements may be written in the presence of legal staff or tailor-made by the parties concerned. Most credit institutions have their own credit agreements. Families engaged in commercial activities and who attach importance to legal certainty also have their own forms. It is usually not an act of distrust when forms are obtained, but it serves for security and formality. .