• What are tri-party agreement

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.
Asked 6 years ago in Business Law

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11 Answers

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 

Ajay Sethi
Advocate, Mumbai
99779 Answers
8145 Consultations

Hi, the triparty  agreement is an acknowledgement between the parties ..Yes such an agreement can be done considering the provisions of contract Act 

Hemant Chaudhary
Advocate, Gurgaon
4632 Answers
67 Consultations

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.

 

Suneel Moudgil
Advocate, Panipat
2386 Answers
6 Consultations

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

Prashant Nayak
Advocate, Mumbai
34515 Answers
249 Consultations

If B is willing it can be disbursed to C account

Ajay Sethi
Advocate, Mumbai
99779 Answers
8145 Consultations

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.

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.

T Kalaiselvan
Advocate, Vellore
89978 Answers
2492 Consultations

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

T Kalaiselvan
Advocate, Vellore
89978 Answers
2492 Consultations

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. 

Mohammed Mujeeb
Advocate, Hyderabad
19325 Answers
32 Consultations

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. 

Shubham Jhajharia
Advocate, Ahmedabad
25513 Answers
179 Consultations

See if it is financial institution then in that case same arrangement can be made.

Shubham Jhajharia
Advocate, Ahmedabad
25513 Answers
179 Consultations

You can become guarantor, amount will credit in C`s account

Yogendra Singh Rajawat
Advocate, Jaipur
23081 Answers
31 Consultations

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