Pay attention to the loan amount, interest rate, repayment term, and associated fees, and read and understand the fine print. It serves as a written agreement that establishes the rights and responsibilities of both parties in relation to the loan transaction. I Owe You (IOU) Agreement – An informal agreement that recognizes money was lent Let’s look at some examples ring details. In the event the Borrower defaults under this Agreement, the A loan contract is an agreement between a lender and a