From the 1st of June 2018, part of the loan agreements will become consensual, it means that, it will start operating from the time of the agreement, and not the transfer of money. This should give the lendee new opportunities to protect their rights. A number of other changes make the legislation more dispositive and protects the weak side - the citizen. The CEO of the “National Law Company” Mitra Yury Mirzoev commented on one of the risks and gave advice on how citizens can properly draw up a loan agreement.
The CEO of the “National Law Company” Mitra Yury Mirzoev advised to carefully choose the definition of the interest rate of the loan: "The material benefit from saving on small percentages is taxed at the maximum tax rate on personal income - 35%. In order to avoid such a benefit on their side, I recommend that in contracts with organizations and entrepreneurs, specify a rate not lower than 2/3 of the current refinancing rate (if the loan is in rubles) or 9% per annum."
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