Supplier Management

NYAMS INVESTMENT LTD

CONTACT DETAILS:

PERSONAL LOAN AGREEMENT

This loan agreement is made and will be effective on ___/___/___

BETWEEN

____________________ hereinafter referred to as the “Borrower” with ID Number;

___________________________________________________________________________________.

AND

____________________ hereinafter referred to as the “Lender” with ID Number;

___________________________________________________________________________________.

Terms and Conditions:

Promise to Pay:

Within _______ months from today, Borrower promises to pay the Lender_________________________ Ksh. (Ksh._______) and interest as well as other charges avowed below.

Liability:

Although this agreement may be signed below by more than one person, each of the undersigned understands that they are each as individuals responsible and jointly and severally liable for paying back the full amount.

Details of Loan: Agreed Between Borrower and Lender:

Amount of Loan: Ksh.__________

Interest rate: Ksh.__________

Total of payments: Ksh.__________

MONTHLY PERCENTAGE RATE________________%

Repayment of Loan:

Borrower will pay back in the following manner: Borrower will repay the amount of this note in _____equal continuous monthly installments of Ksh.____________ each on the _____ day of each month preliminary on the _____day of _______, 20____, and ending on _________, 20____.

Prepayment of Loan:

Borrower has the right to pay back the whole exceptional amount at any time. If Borrower pays before time, or if this loan is refinanced or replaced by a new note, Lender will refund the unearned finance charge, figured by the Rule of 78-a commonly used formula for figuring rebates on installment loans.

Late Charges:

Any payment not remunerated within ________ (___) days of its due date shall be subject to a belatedly charge of ____% of the payment, not to exceed Ksh.____________ for any such late installment.

Security/Collateral:

To protect Lender,...