Document background
The Personal Borrowing Agreement is essential for documenting private lending arrangements in Belgium, ensuring compliance with Belgian Civil Code and consumer protection laws. It serves as a comprehensive legal framework for personal loans, whether between private individuals or involving financial institutions. The document addresses key requirements under Belgian financial regulations, including mandatory disclosures, interest rate calculations, and consumer rights. It should be used whenever a personal loan is extended, regardless of the amount, to protect both lender and borrower interests. The agreement includes critical information such as loan terms, repayment schedules, default provisions, and applicable interest rates, all structured to comply with Belgian legal requirements and financial regulations. This document is particularly important given Belgium's strict consumer credit protection laws and the need for clear documentation in personal lending transactions.
