B would not agree to such an agreement
2) loan will be advanced to A and not paid to C
3) A may after receipt of funds repay C
Dear Sir What is the validity of Tri-party agreement? Can a borrower take a loan in his name (say A) from a Lender say (B) for his creditor(C). Meaning can A ask B to disburse the amount in favour of C. And ultimate liability to repay B lies with A only.
B would not agree to such an agreement
2) loan will be advanced to A and not paid to C
3) A may after receipt of funds repay C
Hi, the triparty agreement is an acknowledgement between the parties ..Yes such an agreement can be done considering the provisions of contract Act
Dear Sir Can the disbursement of loan be in C's account directly by any chance?
A tripartite agreement is executed between three parties and binding upon them all, depends upon terms and conditions.
Yes, amount can be disbursed in C's account if lender B agrees for the same.
Triparte agreement is an agreement in which rights and interest of 3 parties are involved. You need to assure that the averments in the same are affecting all the 3 parties in the said agreement
If A undertakes the responsibility and an agreement drawn accordingly that A will be held liable for repayment of this loan on behalf of C then it may be considered by the lender B.
A tripartite agreement is a legal document that clearly states the obligations and responsibilities of all parties involved in the deal. ... At the time of the creation of this documents, a borrower must ensure that the agreement must contain all the relevant information about the loan and its repayment and annexure for original documents.
If the agreement conditions mention that the lender can give loan amount to C directly on behalf of A, then there can be no issues in that
Tripartite Agreement is an agreement involving three parties . originally, the privity of contract is between the banker and corporate borrower. Amount can be disbursed in C account.
Yes there can be such agreement both A and C can be co-applicant C can be limited applicant for disbursal of the funds and the lender can directly give it in C account.