Instalment Credit Agreement Generator for Germany

The Installment Credit Agreement (Ratenkreditvertrag) is a fundamental financial instrument in German banking practice, used when a borrower needs to finance a purchase or obtain funds with a structured repayment plan. This document type is extensively regulated under German law, particularly through the German Civil Code (BGB), Banking Act (KWG), and consumer protection legislation. It must include specific statutory requirements such as APR calculations, withdrawal rights, and detailed payment schedules. The agreement is typically used by financial institutions providing consumer or business loans and must comply with German banking regulations, GDPR requirements, and EU consumer credit directives. It's essential for documenting credit relationships where regular, fixed payments are required over a predetermined period.

1. Parties: Identification of the credit institution and the borrower, including full legal names, addresses, and registration details

2. Background: Brief context of the credit agreement and its purpose

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

4. Loan Amount and Purpose: Specification of the total loan amount and its intended use

5. Interest Rate and Annual Percentage Rate: Details of the interest rate, APR calculation, and total amount payable as required by German law

6. Installment Payments: Payment schedule, amount of installments, and payment methods

7. Term and Repayment: Duration of the loan and detailed repayment provisions

8. Pre-conditions to Disbursement: Conditions that must be met before the loan is disbursed

9. Representations and Warranties: Borrower's confirmations regarding their financial situation and provided information

10. Right of Withdrawal: Mandatory information about the 14-day right of withdrawal under German consumer protection law

11. Events of Default: Circumstances constituting default and their consequences

12. Data Protection: GDPR-compliant provisions regarding the processing of personal data

13. Notices: Communication methods and contact details for formal notices

14. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction