Common Contracts
1 similar Loan Agreement contracts
Bottom of FormLoan Agreement • July 22nd, 2012
ACKNOWLEDGEMENT OF DEBT entered into between: ___________________________________ (“the Lender”) and ___________________________________ (“the Borrower”) 1 Amount of loan The Lender hereby agrees to lend the sum of ________________to the Borrower on the terms set out hereunder. 2 Payment of loan to Borrower It is agreed between the parties that payment of the loan amount will not be made to the Borrower before the expiry of three business days after the conclusion of the contract. During the said period of three business days the Borrower may terminate the contract at will. It is further agreed that the Lender shall not be entitled to interest for the period preceding the date upon which the money is paid to the Borrower. 3 Period of loan This loan shall endure for a period of ______ months calculated from (date). (In order to claim exemption from the Usury Act 73 of 1968 this number may not exceed 36 months). 4 Interest The Borrower shall be obliged to pay interest at the rate of
