Loan agreement – everything you need to know

Loan agreement – everything you need to know

As consumers, we are increasingly making thoughtful decisions related to our personal finances. This is due to education about saving and caring for the household budget. In the period of consumption rage and fever coming Christmas, we often succumb to the temptation and reach into the wallets for the accumulated savings. If you do not have them – resorted to the conclusion of the loan agreement or the recently popular “loan.” Regardless of whether you act as a borrower or intend to borrow a round sum of relatives asking you to do so, you need to know what such a contract is, and what provisions to pay special attention to.

Loan agreement

The loan agreement has been regulated in the Civil Code (art. 720-724). We wrote here about what makes it different from the loan agreement. When drawing up this type of contract, you must pay attention to the important provisions it should contain. We include:

1. Identification of the parties to the contract

So who grants the loan ( lender ) and who lends ( borrower ). If the contract is signed between two natural persons, enter their personal data (name, surname, home address, PESEL, personal ID number). If one of the parties is a legal person, data such as: full name, address and NIP, KRS, REGON will be necessary.

2. Subject of the contract – what do we borrow?

We indicate here the amount of the loan or movable items marked according to species . the quantities, measures or weights that are the subject of the loan.

3. Date and place of conclusion and termination of the contract

Please indicate the date and place of the conclusion of the contract and the time of its termination , associated with the return of the loan and the manner in which the return takes place (cash, non-cash transaction). In addition, specify: what is the loan repayment time, by which the borrower undertakes to repay the loan amount to the lender. If the loan repayment date has not been set and the lender terminated the contract with the borrower, the borrower has 6 weeks to repay the amount he has borrowed.

4. Form in which the contract is to be concluded.

The Civil Code reserves the document form for the loan amount exceeding PLN 1,000 . Thus, in principle, the loan agreement does not have to be in writing. Remember! It is worth, however, to secure your business and make a written contract – even if you borrow money to a relative whom you trust immeasurably, you never know if such a document will not be useful to you in future evidence.

5. Consequences of late repayment

The lender may stipulate in the contract the consequences of failure to pay the liability on time. Here we provide information, including on the interest which the borrower incurs in connection with the delay.

6. Website signatures

As soon as the signing parties sign the contract, it enters into force and takes legal force .



If you act as a borrower, you have 6 months from the time the contract is concluded for the funds or items lent to be issued to you by the lender. After this date, your claim will expire. The time of delivery of the item is usually specified in the loan contract, otherwise the limitation period begins on the date of the contract .
The lender’s claim for the return of the subject of the loan and the borrower’s claim for its issuing are property claims – therefore they expire within 3 years.

Are you planning to enter into a loan agreement ? Its provisions are extensive and not fully understood by you? The best lawyers will do it for you and check your contract!

Or maybe you act as a lender and want to include in it important provisions from the legal point of view? Describe your case and receive offers from lawyers from all over Poland!

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