Document background
The Loan Agreement Between Friends template is designed for individuals in Denmark who wish to formalize monetary lending arrangements with friends, family members, or acquaintances. This document becomes essential when personal loans need to be properly documented for legal certainty and potential tax purposes under Danish law. It's particularly relevant when the loan amount is significant enough to warrant formal documentation but the parties prefer to keep the arrangement private rather than involving financial institutions. The agreement includes all necessary provisions required by Danish contract law while maintaining flexibility for friendly terms. It's commonly used for various purposes such as property deposits, business startups, education expenses, or personal financial assistance, ensuring both parties have clear understanding and legal protection of their rights and obligations.
