20 Sep 2021by tobiasschaller

Financing Agreement Explained


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A credit agreement not only describes the terms of the loan, but it also serves as proof that the money, goods or services were not a gift to the borrower. This is important because it prevents someone from trying to get out of the refund by claiming it, but it can also help you make sure it`s not a problem with the IRS later. Even if you think you may not need a credit agreement with a friend or family member, it`s still a good idea to have it just to make sure there won`t be any problems or disagreements afterwards about the terms that could ruin a valuable relationship.

Categories: Allgemein