A simple credit agreement indicates the amount borrowed, the interest due and what must happen if the money is not repaid. Credit guarantee (personal) – If someone does not have enough credit to lend money, this form also allows someone else to answer if the debt is not paid. Debt – A promise of payment made by a debtor and a creditor lending money. The lender should read the draft credit agreement to see if all the provisions and writings are correct. The lender`s signature gives the impression that the document is read, understood and correct. Credit agreements usually contain information about: delay – If the borrower is late due to non-payment, the interest rate, as set by the lender, falls on the loan balance until the loan is paid in full. .