Document background
The Paid In Full Letter From Lender (Erfüllungsbestätigung/Quittung) is a crucial document in German lending practice that provides formal confirmation of loan satisfaction. It is typically issued when a borrower has completed all payment obligations under a loan agreement and requires official documentation of this fact. The letter serves multiple purposes under German law: it provides the borrower with legally required proof of debt satisfaction under BGB § 368, releases any associated collateral or security interests, and can be used to update public registers (such as land registers for property loans). The document must meet specific requirements under German banking regulations and the Civil Code, including clear identification of the parties, loan details, and explicit confirmation of full payment. This documentation is particularly important in German jurisdiction as it provides definitive evidence of debt discharge and helps prevent future disputes about loan satisfaction.
