Document background
The Employee Loan Agreement is a crucial document used when an employer provides financial assistance to an employee through a formal loan arrangement. This agreement, governed by Irish law, establishes the legal framework for the loan, ensuring compliance with employment regulations, consumer credit laws, and tax requirements. It typically includes detailed terms about the loan amount, repayment schedule through salary deductions, interest rates (if applicable), and provisions for early repayment or employment termination. The document protects both employer and employee interests by clearly documenting the financial arrangement and associated obligations. Such agreements are commonly used for various purposes, including employee relocation, education support, or personal hardship assistance.
