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Loan Contract
| Name of the borrower: | |
| ID Number: | |
| Mobile Number: | |
| Installment Payment: | |
| Terms: |
Article Loan Form
- Use valid identification documents when applying for loans. The customer promises and confirms that all information, data and documents provided by the customer according to the terms of this contract are legally used and owned by the customer, are correct in all aspects, do not conceal information, and the upper limit of approval for personal loans does not exceed 5 times of the borrower's income.
- The customer accepts and allows COMPANY to receive information related to negotiating loan contracts and documents related to loan contracts. COMPANY shall not disclose to any third party at any time any information related to the customer and/or contracts, loan agreements and/or other relevant documents. The Client agrees that the above information may be used, encrypted, transmitted and stored by COMPANY, its management company, its affiliates, subsidiaries and member companies that own other assets of COMPANY.
- The determination of each applicant's qualification and/or credit limit and/or interest rate received depends on the loan application documents and/or the terms and conditions, but such approval must be decided by the company.
- The Company shall have the right to charge interest during the default period regardless of any or all instalments. The interest rate shall be charged in such manner as the Company thinks fit, but shall not exceed the highest interest rate that the Company is entitled to charge according to law. Debt shall still be charged at the interest rate during the accounting period.
- The borrower will be informed of the preliminary approval result when submitting the loan application. Both parties agree to abide by the stipulated terms and conditions.
- The total amount of loans and amortization shall not exceed 18% per year.
- The Company reserves the right to use its internal rules and regulations to approve or reject financing. However, even if the approval of special interest rate is applied, if it is found that the borrower's qualification does not meet the standards and conditions specified by the company, the borrower agrees to allow the company to change the interest rate at any time and for any reason, including the cost of using the credit line that the borrower must pay to the company. The interest rate including these fees shall not exceed the maximum interest rate prescribed by law.
- This short-term loan contract shall come into force from the date of signing by both parties (including the electronic contract). The contract text has the same legal effect. The financial institution and the borrower shall keep a copy of the contract.
DISCLOSURE STATEMENT ON LOAN/CREDIT TRANSACTION
(As required under R.A 3765, Truth Lending Act)
- The borrower must fill in personal information in the system and all information must be filled in truthfully.
- If the borrower provides untrue information, the company can pursue legal responsibility against the borrower.
- All information confirmed by the borrower cannot be changed.
- Whether the approval result is passed or not comes from the credit review committee and cannot be changed.
- The borrower must comply with the outcome of the board's final resolution or additional requirements to prove the declared information are true and reliable.
- The borrower must comply with the deliberation results of the board of directors within the specified period. After the evaluation is completed, the total amount will be credited to the account filled in by the borrower in the system. However, if the borrower does not fulfill the terms of the contract approved by the Finance, the contract will be cancelled. If the contract is terminated, the borrower must pay a processing fee of 50% of the loan amount in order to remove all balances from the system as liquidation damage.
- If there is any error after submitting personal information, the error is caused by the borrower, the borrower shall be responsible for this event. Incorrect information will be corrected in accordance with the company policy.
- If the borrower does not bear the mistakes caused by himself, the company can confiscate the borrower's securities according to law. This would be considered serious intentional fraud and could face severe legal penalties if brought directly to court with the accordance with Article 1170 of Civil code also known as Breach of Contract.
- The parties to this agreement shall strictly abide by their obligations, unless the parties agree otherwise. Either party shall not terminate this agreement. Either party is in breach of contract, tort or breach of contract, and the party in breach shall bear the costs and losses suffered by the other party due to the breach of contract. Such as: Investigation charge, litigation charge, attorney charge, etc. This will be borne by the breaching party if the company defaults, the company must pay the borrower all administrative fees, If the borrower defaults, all the administrative cost must also be paid to the company.
NOW AS THE LOAN APPLICANT HAVE READ, OBSERVED, COMPLIED AND AGREE WITH ALL THE PROVISIONS IN THIS LETTER. THIS CONTRACT IS DECLARED ACTIVE WHEN THE LOAN MONEY IS APPROVED AND RECEIVED BY THE BORROWER IN THE LENDING ACCOUNT WALLET.
Borrower
The information in this document may be confidential and privileged and is valid solely for the purpose it was intended. If you are not the intended recipient, any disclosure copying, distribution, or any action taken in reliance on it, is prohibited and may be unlawful. If you receive this document in error, please notify the sender immediately and delete all copies of this document.