So you`ve just negotiated and concluded a good financing agreement for your business. Now you need to abide by the terms of this agreement – everyone. You have before you a credit document of more than 100 pages, probably written by your lender`s lawyers, based on what they understood to be the agreed intent of the transaction. Lawyers are generally not known for their brevity in writing, so there may be important parts of the agreement that are difficult to understand. This is because your agreement is a legal document. Its purpose is to take into account all possible contingencies and protect the parties, not for short. So what do you do to make sure that you and others are still aware of the requirements and restrictions of this lengthy legal document? Quite simply, someone needs to summarize this agreement to reduce this long document to a ~15-page summary – in plain English – so that you and others can more easily understand the requirements of your new agreement. This summary should have two objectives: to warn against late paymentsThis section indicates additional fees and the higher interest rate that can be collected in the event of late payment. A credit card statement is a summary of how you used your credit card for a billing period. If you`ve ever looked at credit card notes, you know how difficult they can be to read.