Money Loans in Thailand and Key Issues for the Parties to Consider
If you plan to be a borrower or lender of money in Thailand then there are several key matters which you should be aware of before the loan is made. This legal article shall discuss various key issues which the parties should be mindful of including interest, repayment of the loan & legal requirements for enforcement of a loan. The Civil & Commercial Code of Thailand – Loan for Consumption A loan of money falls under the classification of ‘loan for consumption’ under the Civil & Commercial Code of Thailand (CCC). This is where a “lender transfers to the borrower the ownership of a certain quantity of property which is consumed by the user and the borrower agrees to return property of the same kind quality and quantity”. It is worth noting that a loan contract is only […]
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