Document background
The Employee Loan Agreement And Promissory Note is designed for use in situations where Irish employers offer financial assistance to their employees through formal loan arrangements. This document is particularly relevant in contexts where companies provide staff loans as part of their employee benefits package or to assist with specific employee needs such as relocation, education, or personal circumstances. The agreement combines the necessary elements of a loan agreement with a promissory note, ensuring enforceability under Irish law while maintaining compliance with employment regulations and consumer credit requirements. It is structured to protect both employer and employee interests by clearly documenting the loan terms, repayment obligations, and consequences of default or employment termination. The inclusion of a promissory note component adds an additional layer of security for the employer while maintaining transparency in the financial arrangement.
