The Employee Loan Agreement is a critical document used when companies in the Philippines offer financial assistance to their employees through formal lending programs. This agreement is essential for organizations that provide employee loans as part of their benefits package or to assist employees during financial emergencies. The document ensures compliance with Philippine labor laws, banking regulations, and financial disclosure requirements while protecting both employer and employee interests. It includes comprehensive details about loan terms, repayment mechanisms through salary deductions, interest calculations, and default provisions. The agreement is particularly important in the Philippine context where employee loan programs are common benefits offered by companies, requiring careful documentation to comply with local regulatory requirements and establish clear obligations for both parties.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identifies the employer (lender) and employee (borrower) with complete details including positions and employee identification numbers
2. Background: Establishes the employment relationship and context for the loan request
3. Definitions: Defines key terms used throughout the agreement including Loan Amount, Interest Rate, Repayment Period, and Payment Schedule
4. Loan Details: Specifies the principal amount, purpose of the loan, and disbursement details
5. Interest and Charges: Details the interest rate, method of calculation, and any additional charges or fees
6. Repayment Terms: Outlines the repayment schedule, salary deduction authorization, and payment mechanisms
7. Employee Covenants: Employee's representations, warranties, and obligations regarding the loan
8. Security Provisions: Details about any security or collateral for the loan, including final settlement provisions
9. Events of Default: Defines circumstances constituting default and consequences thereof
10. Termination Provisions: Handling of loan in case of employment termination or resignation
11. General Provisions: Standard clauses including notices, amendments, governing law, and dispute resolution
1. Insurance Requirements: Required when loan amount exceeds certain thresholds or when company policy requires loan insurance
2. Guarantor Provisions: Used when a guarantor is required for the loan based on amount or company policy
3. Additional Security: Required for high-value loans or when employee provides specific assets as collateral
4. Early Repayment Terms: Optional section detailing terms for early loan repayment and any associated penalties or benefits
5. Restructuring Provisions: Include when company policy allows for loan restructuring or payment modifications
1. Schedule 1 - Loan Amortization Schedule: Detailed breakdown of monthly payments showing principal, interest, and balance
2. Schedule 2 - Salary Deduction Authorization Form: Standard form authorizing employer to deduct loan payments from salary
3. Schedule 3 - Loan Application Form: Employee's original loan application with supporting documents
4. Appendix A - Company Loan Policy: Reference to relevant sections of company loan policy
5. Appendix B - Disclosure Statement: Truth in lending disclosures as required by Philippine law
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Manufacturing
Retail
Business Process Outsourcing
Information Technology
Construction
Healthcare
Education
Telecommunications
Transportation and Logistics
Real Estate
Mining and Resources
Hospitality and Tourism
Professional Services
Relevant Teams
Human Resources
Finance
Legal
Payroll
Compliance
Employee Relations
Treasury
Risk Management
Corporate Services
Benefits Administration
Relevant Roles
Human Resources Director
HR Manager
Payroll Manager
Finance Director
Chief Financial Officer
Legal Counsel
Compliance Officer
Benefits Administrator
HR Operations Manager
Employee Relations Manager
Finance Manager
Compensation and Benefits Specialist
HR Business Partner
Financial Controller
Treasury Manager
Find the exact document you need
Non Binding Agreement
A Non-Binding Agreement template under Philippine law for structuring preliminary business discussions and proposed arrangements while maintaining no legal obligations.
find out more
Bilateral Contract (Real Estate)
A Philippine law-compliant bilateral contract for real estate transactions, facilitating legal property transfer between parties with necessary terms and conditions.
find out more
Business Agreement
Template for a Philippine-law compliant business agreement, structured to establish clear commercial relationships while meeting local legal requirements.
find out more
Option Contract (Real Estate)
A Philippine law-governed contract granting exclusive rights to purchase specific real estate property under preset terms and conditions within a defined timeframe.
find out more
Written Agreement For Payment
A legally binding payment agreement under Philippine law that establishes payment terms, schedules, and obligations between parties.
find out more
Land Lease Agreement Form
A Philippine law-compliant agreement establishing terms for leasing land between property owner and tenant, including rental terms, usage rights, and obligations.
find out more
Bilateral Contract
A bilateral contract template compliant with Philippine law, establishing reciprocal obligations between two parties.
find out more
Consignment Agreement Form
A Philippine law-governed agreement establishing terms for consignment sales arrangement between product owner and seller, including commission and inventory management terms.
find out more
General Tenancy Agreement
A Philippine law-compliant agreement establishing terms and conditions for property rental between landlord and tenant.
find out more
Standard Form Contract
A standardized contract template compliant with Philippine law, designed for regular business-to-consumer transactions with pre-set terms and conditions.
find out more
Contract Agreement Form
A comprehensive Contract Agreement Form template compliant with Philippine law, designed for establishing legally binding business relationships.
find out more
Money Agreement Between Two Parties
A comprehensive money lending agreement template compliant with Philippine law, structuring financial transactions between two parties.
find out more
Written Agreement
A formal Written Agreement compliant with Philippine law, establishing legally binding obligations between parties with clear terms and enforcement mechanisms.
find out more
Simple Contract
A straightforward legal agreement governed by Philippine law that establishes basic contractual relationships between parties, ensuring compliance with the Civil Code of the Philippines.
find out more
Side Agreement
A supplementary agreement under Philippine law that modifies or clarifies terms of an existing primary agreement while maintaining compliance with Philippine civil and commercial legislation.
find out more
Mutual Agreement Between Two Parties
A legally compliant template for Mutual Agreements between two parties under Philippine law, suitable for various business relationships.
find out more
Lease Agreement With Option To Purchase
A Philippine law-governed agreement combining property lease terms with a future purchase option, establishing conditions for both temporary use and potential acquisition.
find out more
Incorporation Agreement
A foundational legal document under Philippine law that establishes a new corporation and defines its basic structure, governance, and operational framework.
find out more
Formal Agreement
A binding legal agreement drafted under Philippine law that establishes formal business relationships and obligations between parties.
find out more
Fixed Term Tenancy Agreement
A Philippine law-compliant agreement establishing fixed-term rental terms between landlord and tenant, governed by the Rent Control Act and Civil Code of the Philippines.
find out more
Contract For Selling A Car
A Philippine law-compliant contract for the sale and transfer of ownership of a motor vehicle, including essential terms and conditions for both parties.
find out more
Casual Worker Contract
A Philippine-compliant contract for casual employment arrangements, establishing terms and conditions for temporary or intermittent work relationships.
find out more
Business Transfer Agreement
A Philippine law-governed agreement facilitating the complete transfer of business ownership, assets, and operations between entities, ensuring regulatory compliance and smooth transition.
find out more
Boilerplate Agreement
A versatile Boilerplate Agreement template compliant with Philippine law, designed for various business relationships and transactions.
find out more
Tooling Agreement
A Philippine law-governed agreement establishing terms for industrial tool development, supply, and usage rights between manufacturing parties.
find out more
Service Agreement Terms And Conditions
Philippine-law governed terms and conditions document outlining service provision arrangements between provider and client.
find out more
Representation Agreement
A Philippine law-governed agreement establishing the terms and conditions between a principal and their appointed representative, defining scope, territory, and mutual obligations.
find out more
Provisional Agreement
A temporary contractual arrangement under Philippine law that establishes interim terms and conditions between parties while evaluating longer-term collaboration possibilities.
find out more
Preliminary Agreement
A pre-contractual document under Philippine law that establishes the framework for negotiations and initial terms between parties before finalizing a detailed agreement.
find out more
Notary Rent Agreement
A legally binding rental agreement authenticated by a notary public under Philippine law, establishing terms and conditions between lessor and lessee.
find out more
Non Compete Agreement Between Companies
A Philippine law-governed agreement establishing competitive restrictions between companies, defining scope, duration, and territorial limitations of non-compete obligations.
find out more
Lease With Option To Buy
A Philippine law-governed agreement combining property lease terms with a future purchase option, structured to comply with local real estate and contract laws.
find out more
Land Agreement Between Two Parties
A Philippine law-compliant agreement for the transfer of land ownership between two parties, incorporating all essential legal requirements and protections.
find out more
Contract Agreement Between Two Parties
A bilateral agreement under Philippine law establishing legally binding obligations between two parties, with comprehensive terms and conditions for business relationships.
find out more
Common Terms Agreement
A Philippine law-governed agreement establishing common terms for syndicated lending facilities, standardizing the relationship between multiple lenders and borrower(s).
find out more
Buyer Agency Agreement
A Philippine-law governed agreement establishing a professional relationship between a real estate agent and property buyer, outlining the agent's authority, duties, and compensation terms.
find out more
Statement Of Agreement
A formal document under Philippine law that records mutual understanding and commitments between parties, serving as a simplified yet legally binding agreement.
find out more
Contract For Service And Contract Of Service
A dual-purpose contract template for employment and independent contractor relationships compliant with Philippine law and regulations.
find out more
Preliminary Contract
A Philippine law-governed binding preliminary agreement that establishes the framework and obligations for parties negotiating toward a final contract.
find out more
Key Agreement For Employees
A Philippine-compliant agreement governing the issuance and management of keys/access devices to employees, establishing security protocols and holder responsibilities.
find out more
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)