Acceleration – A clause in a loan agreement that protects the lender by requiring the borrower to immediately repay the loan (both the principal and all accrued interest) if certain conditions occur. Depending on the loan selected, a legal contract must be established with the terms of the loan agreement, including: Loan agreements usually contain information about: Depending on the amount of money lent, the lender may decide to leave the contract authorized in the presence of a notary. This is recommended when the total amount, plus interest, is greater than the maximum rate allowed for the small claims court in the parties` jurisdiction (normally $5,000 or $10,000). A person or business can use a credit agreement to set terms such as an amortization table with interest (if any) or the monthly payment of a loan. . . .