Loan Agreement With Co Maker

Loan Agreement With Co Maker Template for Qatar

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Key Requirements PROMPT example:

"I need a Loan Agreement with Co-Maker under Qatar law for a commercial property purchase worth QAR 5 million, where the co-maker is a family member of the business owner, with the loan to be disbursed by March 2025 and structured to be Sharia-compliant."

Document background

The Loan Agreement With Co-Maker is a specialized financial instrument used in Qatar when additional security is required for a loan through a third party's guarantee. This document is commonly utilized in both personal and commercial lending scenarios where the primary borrower's creditworthiness needs to be supplemented. The agreement must comply with Qatar's Civil Code, Commercial Code, and where applicable, Islamic banking principles. It details the roles and responsibilities of all parties, with particular emphasis on the co-maker's obligations and liability. The document includes specific provisions for enforcement, default remedies, and dispute resolution under Qatar law, making it suitable for various lending situations from personal loans to commercial financing. The agreement's structure ensures protection for the lender while clearly defining the extent of the co-maker's liability and the primary borrower's obligations.

Suggested Sections

1. Parties: Identification of the Lender, Primary Borrower, and Co-Maker with full legal names and addresses

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

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

4. Loan Amount and Purpose: Specification of the loan amount, currency, and permitted use of funds

5. Disbursement Terms: Conditions and procedure for loan disbursement

6. Repayment Terms: Payment schedule, method of payment, and currency of payment

7. Co-Maker's Obligations: Detailed obligations and extent of co-maker's liability

8. Interest and Fees: Details of profit rate/interest (if Sharia-compliant), fees, and charges

9. Representations and Warranties: Statements of fact and assurances from both borrower and co-maker

10. Events of Default: Circumstances constituting default and consequences

11. Remedies: Lender's rights and remedies upon default

12. Notices: Communication procedures between parties

13. Governing Law and Jurisdiction: Qatar law as governing law and jurisdiction for disputes

Optional Sections

1. Islamic Finance Compliance: Required if the loan needs to be Sharia-compliant, including specific structuring and profit calculation methods

2. Security: Include if additional collateral or security is being provided

3. Insurance: Required if insurance is mandatory for the loan

4. Assignment and Transfer: Include if rights under the agreement can be assigned or transferred

5. Additional Co-Makers: Required if more than one co-maker is involved

6. Cross-Default: Include if default under other agreements should trigger default under this agreement

7. Financial Covenants: Include for business loans requiring ongoing financial performance metrics

Suggested Schedules

1. Repayment Schedule: Detailed schedule of repayment dates and amounts

2. Disbursement Conditions: List of conditions precedent to loan disbursement

3. Fee Schedule: Breakdown of all applicable fees and charges

4. Form of Drawdown Notice: Template for requesting loan disbursement

5. Required Documents: List of documents required from borrower and co-maker

6. Co-Maker's Statement: Declaration of co-maker's financial position and commitments

7. Compliance Certificates: Templates for ongoing compliance reporting if required

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Banking

Financial Services

Real Estate

Construction

Retail

Manufacturing

Small and Medium Enterprises

Consumer Finance

Islamic Banking

Commercial Lending

Private Banking

Corporate Finance

Relevant Teams

Legal

Credit Administration

Risk Management

Compliance

Corporate Banking

Retail Banking

Islamic Banking

Documentation

Operations

Customer Service

Relevant Roles

Legal Counsel

Credit Manager

Loan Officer

Compliance Officer

Risk Manager

Banking Relationship Manager

Financial Advisor

Contract Administrator

Legal Director

Credit Analyst

Islamic Banking Specialist

Documentation Specialist

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