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No Loan Agreement for Belgium

No Loan Agreement Template for Belgium

A No Loan Agreement under Belgian law is a formal legal document that explicitly declares and confirms the absence of any loan obligations between the specified parties. This document serves as official evidence under Belgian civil law and can be used to prevent future disputes about alleged loans or financial obligations. The agreement includes detailed representations from all parties confirming the non-existence of any loan arrangements, whether formal or informal, and can cover both present circumstances and specified historical periods. The document is structured in accordance with Belgian contract law requirements and provides legal certainty regarding the financial relationships between the parties.

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No Loan Agreement

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What is a No Loan Agreement?

The No Loan Agreement is a crucial document used in Belgian business and personal contexts where parties need to formally establish and document the absence of any loan obligations. This type of agreement is particularly valuable in corporate restructuring, business relationship terminations, or family business arrangements where clear documentation of financial relationships is essential. The document complies with Belgian civil law requirements and typically includes declarations from all parties confirming no loans exist, details of any previously settled obligations, and relevant time periods covered by the declaration. It serves as strong evidence in potential future disputes and provides clarity in financial relationships, particularly important in contexts such as corporate group arrangements, shareholder relationships, or business partnership dissolutions. The agreement can be especially useful during due diligence processes, corporate transactions, or when establishing clean financial slates between parties.

What sections should be included in a No Loan Agreement?

1. Parties: Identification and details of all parties to the agreement, including their legal capacity and registered addresses

2. Background: Context of the relationship between the parties and the purpose of the agreement

3. Definitions: Definitions of key terms used in the agreement

4. Declaration of No Loan: Clear statement confirming that no loan exists between the parties

5. Scope of Declaration: Specification of the time period and/or circumstances covered by the no-loan declaration

6. Representations and Warranties: Confirmations by both parties regarding the accuracy of the no-loan status

7. Governing Law and Jurisdiction: Specification that Belgian law governs the agreement and designation of competent courts

8. Execution: Signature blocks and execution requirements

What sections are optional to include in a No Loan Agreement?

1. Previous Settlements: To be included if there were previous loans that have been fully settled, documenting their resolution

2. Related Agreements: To be included if there are other agreements between the parties that should be referenced

3. Tax Declarations: To be included if there are specific tax implications that need to be addressed

4. Notices: To be included if ongoing communications between the parties are anticipated

5. Entire Agreement: To be included if this agreement needs to supersede any previous arrangements or understandings

6. Severability: To be included if there's a need to ensure partial invalidity doesn't affect the whole agreement

7. Third Party Rights: To be included if there's a need to address the rights of third parties

What schedules should be included in a No Loan Agreement?

1. Evidence of Settled Accounts: Copies of bank statements or other documentation proving settlement of any previous loans

2. Related Party Details: List of affiliated entities or individuals covered by the no-loan declaration

3. Historical Transaction Summary: Summary of past financial transactions between the parties, if relevant

4. Power of Attorney: If applicable, documentation of authority to sign on behalf of any party

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Belgium

Publisher

Ƶ

Document Type

Loan Agreement

Sector

Banking

Cost

Free to use
Relevant legal definitions










Clauses
























Relevant Industries

Financial Services

Banking

Corporate

Real Estate

Manufacturing

Professional Services

Retail

Technology

Construction

Family Business

Private Equity

Investment Management

Relevant Teams

Legal

Finance

Treasury

Compliance

Risk Management

Corporate Secretariat

Accounting

Corporate Development

Business Development

Tax

Relevant Roles

Chief Financial Officer

Financial Controller

Legal Counsel

Corporate Lawyer

Finance Director

Treasury Manager

Compliance Officer

Company Secretary

Risk Manager

Accountant

Business Development Director

Corporate Finance Manager

Managing Director

Board Member

Financial Analyst

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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