The loan agreement
Example: Loan agreement defines terms for borrowing and repayment conditions
Definition
"The loan agreement" is a formal document in finance that outlines the terms and conditions under which a loan is provided, including the amount borrowed, interest rate, repayment schedule, and responsibilities of both lender and borrower.
Etymology
The phrase "the loan agreement" combines 'loan,' derived from Old English 'læn,' meaning something lent, and 'agreement,' from Old French 'agreer,' meaning mutual consent. Together, they describe a contract specifying the terms of lending money.
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"The loan agreement" appears in the Vocaplus list "English - Finance - (A1-C2) - set 1", containing 150 commonly used words.
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