In the Payment section, you describe how the credit amount is refunded, the frequency of payments (e.g..B monthly payments, on-demand payments, a flat rate, etc.), and information about the payment methods allowed (e.g. B cash, credit card, payment order, bank transfer, direct debit, etc.). You must contain exactly what you accept as a means of payment, so that there are no questions about the authorized payment methods. The credit agreement should clearly describe how the money is repaid and what happens if the borrower is unable to repay. Lending money to family and friends – when it comes to loans, most refer to loans to banks, credit unions, mortgages and financial aid, but hardly do people consider getting a credit agreement for their friends and family, because that`s exactly what they are – friends and family…