• Views:781
  • Lender:NA
  • Location:Pasay, Metro Manila
  • Loan Max amount:$10000
  • Collateral:Car
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Loan Terms:

1. Purpose of Loan: [State the purpose of the loan, e.g., "To finance the purchase of a [describe purpose]"]
2. Loan Disbursement: The Loan Amount shall be disbursed to the Borrower on [Date of Disbursement] through [method of disbursement, e.g., bank transfer].
3. Repayment Schedule: The Borrower shall repay the Loan Amount in [Number of Equal Installments] equal monthly installments of [Amount of Monthly Installment in Words] commencing on [First Due Date] and on the [same day of each subsequent month] until the Loan Amount is fully repaid.
4. Interest Payment: The Borrower shall pay interest on the outstanding balance at [Interest Rate] per annum. Interest shall be calculated on the outstanding principal balance and payable along with the monthly installments.
5. Prepayment: The Borrower has the right to prepay the outstanding balance, in part or in full, at any time without any prepayment penalty.

Default:

● In the event of non-payment of any installment for [Number of Days] days after the due date, the outstanding balance, including accrued interest, shall become due and payable immediately.
● The Lender may pursue legal remedies to recover the outstanding amount in case of default.

Governing Law: This Agreement shall be governed by and construed per the laws of the Republic of the Philippines.

Entire Agreement: This Agreement constitutes the entire agreement between the parties and supersedes all prior oral or written understandings.

Amendments: Any amendments to this Agreement shall be made in writing and signed by both parties.

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