The annex to the payday loan agreement is a document enabling changes. It can correct errors, add new provisions or delete existing ones. The parties to the annex should be persons who have previously drawn up the main contract.
What is the annex to the contract – definition
Annex to the contract is a type of document that introduces changes to an existing contract. There may be a situation that the contract was made relatively long ago and requires minor adjustments. The purpose of the annex is to change existing provisions, introduce new ones or resign from existing paragraphs or paragraphs.
An annex to a payday loan agreement, for example an online payday loan in installments , is a document introducing new provisions to a contract previously concluded with the lender. For example, he can set a new schedule for the repayment of a financial liability. The annex changes the content of the payday loan agreement, for example a payday loan without a contract of employment , in such a way as to match the needs of both the lender and the borrower.
The parties are not forced to draw up a new payday loan agreement or terminate the existing one. The number of annexes that can be added to the main payday loan agreement, for example a payday loan for renovation , is unlimited. The annex allows you to correct errors that have been included in the current contract.
The annex to the payday loan agreement concerns its various elements. It may, for example, refer to commissions or additional payday loan-related fees. With the help of the annex, the borrower and the lender are able to introduce modifications to the existing contract regarding the example of a payday loan from the employer .
What should an annex to the payday loan agreement contain?
The annex to the contract should contain the following elements:
- details of the contract to which it relates (its number, date and place of preparation),
- the party to the agreement where the changes are to be made (the annexes should be the same),
- subject of the contract,
- changes to be made by means of an annex,
- a date indicating when the annex will become valid,
- signatures of both parties,
- annotation regarding the lack of changes in other elements of the main contract.
How to correctly write an annex to the contract
The parties to the contract that prepare the annex to it should remember some important elements. According to art. 77 of the Civil Code, the annex should be written in the same form in which the main contract was created. If, for example, it was written in writing, the annex should also be written in the same way.
The most important element of the annex to the contract is to determine the changes introduced. This can be done by citing in the annex paragraphs and paragraphs that are to be corrected. If the parties have decided to introduce a new entry, they should indicate it in the annex in the form of a new paragraph.
The annex should also include the date determining the validity of the document. Usually the annex takes legal effect at the time of signing by both parties. However, they may decide that the annex should apply, for example, within two weeks of being drawn up.
Incorrect annex to the contract – consequences
Making an annex to the contract in the wrong form usually results in its invalidity. However, there is one exception. It applies to a document which is concluded in writing and when the law does not reserve such form of its preparation under pain of nullity.
In this situation, parties who have drawn up an annex in a different form, for example oral, must prove to the court that such an action has taken place. This is determined by the provisions contained in art. 74 of the Civil Code. If the parties to the contract are persons who do not run their own businesses, the court has the right to refuse to provide evidence in the form of witnesses or to consent to the hearing of the parties to the contract.