Loan agreement Form (with collateral)

  • LOAN WITH COLLATERAL FORM

  • Personal Details

  • This agreement is made on the day of 2025

  • Between of (herein referred to as "the Borrower" which expression shall where the context admits include its successor-in-title) of the first part

    And
    Pruvia Trading International (herein referred to as the creditor) of the part

  • a) That the Borrower collected the sum of N only from Pruvia Trading International for a period of

  • And is obligated to pay % flat of the principal amount monthly as commission (exclusive of 5% flat processing fee paid upfront) to the creditor exclusive of the principal amount collected.

  • b) That the borrower agrees that if he/she fails to meet up with the monthly obligation or default with the payments payment for 2(two) consecutive months, this agreement serves as a change of ownership of the collateral
    To Pruvia Trading International for the recovery of all the total due obligation inclusive of total commission, principal amount collected, and cost incurred from the recovery of the obligation. while any item bearing or inclusive of the collector's title shall be use to obligate any remnant obligation due.

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    c)       That the Borrower will pay a default penalty fee of 1% flat on the total default amount to be charged monthly on any default. 

    d)       That the creditor (Pruvia Trading International) reserves the right at its sole discretion to change, Vary or cancel at any time, with adequate notice to the borrower, the nature and amount of the facilities as well as the underlying terms, conditions and security arrangement. Therefore notwithstanding anything in this agreement to the contrary, this facility is regarded as payable at any time at the option of the Creditor (Pruvia Trading International)

    e)      The Borrower acknowledges and agrees that any collateral deposited with Pruvia Trading International Ltd in connection with this Loan Agreement shall be held at the sole risk of the Borrower. The Lender shall not be liable for any loss, damage, depreciation, or destruction of such collateral, whether arising from accident, theft, natural causes, or any other circumstance beyond the Lender’s reasonable control. The Borrower further agrees that the Lender has no obligation to insure, safeguard, or otherwise protect the collateral beyond ordinary care in custody.

    f)       That this agreement is binding on all parties without recourse to 

  • IN WITNESS WHEREOF, the parties shall set their hands and seal, the day and year first above written
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