A template may contain the payment terms that the lender wishes to see in the document. There are four repayment rules that the borrower can offer to a lender. There may be more than one repayment provision in the draft loan agreement. Repayment plans include that a loan is not legally binding without signatures from both the borrower and the lender. For additional protection for both parties, it is strongly recommended to have two witnesses signed and to be present at the time of signing. A one-sided document is all that is needed to establish a binding payment agreement letter. The following example is a template that can be easily adapted to a large number of transactions. The credit agreement should clearly describe how the money is repaid and what happens if the borrower is unable to repay. A lender can use a legal credit agreement to enforce the repayment if the borrower does not maintain the end of the agreement. In other words, it must be clearly presented as a legitimate loan letter. It will make the agreement more serious overall. . .