1. Parties and subject matter
The individual agreement identifies the creditor and the borrowing company, its representatives and, where applicable, guarantors. It specifies the amount, currency, duration, purpose of financing and drawdown conditions. Where security is required, its type and supporting documents are described. The agreement is concluded in writing, including electronically with qualified electronic signatures.
Where a guarantor is an individual acting outside their trade or profession, protection against unfair terms under the Bulgarian Consumer Protection Act and Directive 93/13/EEC may apply to the guarantee.
2. Price and repayment schedule
The agreement states the interest rate, its application and variation conditions, fees and the total amount payable. The repayment schedule specifies the amount, number, frequency and due dates of payments.
3. Rights and obligations
The creditor supplies a copy of the signed agreement. The company makes payments on time, uses the funds for the agreed purpose where required and notifies changes in its representatives, ownership or contact details.
4. Early repayment
The agreement sets out the conditions for early repayment and the calculation of any compensation.
5. Default and termination
The agreement describes late-payment interest, permitted costs, consequences of non-payment, enforcement of security and termination conditions. Request clarification of unclear clauses before signing.
6. Attachments and disputes
Applicable general terms, fees and charges and the repayment schedule accompany the agreement. Information on complaints and disputes is available separately. Request individual documents through contacts.