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Loan Contract Agreement Template

This document is a contract of loan between a Creditor and Debtor. It specifies that the Debtor has borrowed [amount] from the Creditor, to be paid back with interest of [rate]% per year in monthly installments by [date]. If payment is not made in full, penalty interest of [rate]% per month will be charged until full payment. The contract details terms regarding successors, court costs, severability, and observance of terms. It is signed and notarized by both parties.

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Ansis Villalon Pornillos
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381 views2 pages

Loan Contract Agreement Template

This document is a contract of loan between a Creditor and Debtor. It specifies that the Debtor has borrowed [amount] from the Creditor, to be paid back with interest of [rate]% per year in monthly installments by [date]. If payment is not made in full, penalty interest of [rate]% per month will be charged until full payment. The contract details terms regarding successors, court costs, severability, and observance of terms. It is signed and notarized by both parties.

Uploaded by

Ansis Villalon Pornillos
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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CONTRACT OF LOAN

KNOW ALL MEN BY THESE PRESENTS:

This Deed is made and executed by and between:

____________, Filipino, of legal age, and a resident of


________________________________________________, hereinafter referred to as
CREDITOR, and;

______________, Filipino, of legal age and a resident of


________________________________________________, hereinafter referred to as
DEBTOR.

WITNESSETH

That the DEBTOR has borrowed/loaned the amount of


___________________________________________ PESOS, while the CREDITOR has
lent/loaned the said amount, subject to the following terms and conditions:

1. That the DEBTOR shall pay the CREDITOR the aforementioned amount, together
with interest thereon at the rate of ______ % per annum on any unpaid balance, on
or before ___________________. The said amount, inclusive of interest, shall be
paid in installments of __________ per month;

2. That in case of failure on the part of the DEBTOR to pay the amount loaned in
full at its aforementioned maturity date, then the CREDITOR shall charge a
penalty amounting to a compounded _____ percent (___%) interest per month of
the total amount due until full payment thereof;

3. This Loan will inure to the benefit of and be binding on the respective successors
and permitted assigns of the DEBTOR. The DEBTOR may not assign its rights or
delegate its duties under this Loan without the CREDITOR’s prior written
consent;
4. That in case the court intervention should become necessary and inevitable, the
DEBTOR shall be liable for the court and litigation expenses and attorney's fee
amounting to twenty five (25) percent of the total amount due and demandable;

5. In the event that any of the provisions of this Loan are held to be invalid or
unenforceable in whole or in part, the remaining provisions shall not be affected
and shall continue to be valid and enforceable as though the invalid or
unenforceable parts had not been included in this Loan; and
6. That the parties herein hereby commit to fully observe the terms and conditions as
embodied in this contract and are fully aware that any violation of the same shall
expose such erring party to the corresponding, criminal, civil and/or
administrative liabilities.
IN WITNESS WHEREOF, the parties have hereunto set their
th
hands this ____ day of __________________in Quezon City, Philippines.

Creditor Debtor

SIGNED IN THE PRESENCE OF:

Witness Witness

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )


QUEZON CITY ) S.S.

Before me, a Notary Public for and in Quezon City personally appeared:

Exhibiting their valid Identification Cards, respectively, known to me and to me


known to be the same persons who executed the foregoing instrument consisting of three (3)
pages including this page upon which this acknowledgment is written and acknowledged that
the same as their own free act and deed and that of the entities which they represent.

WITNESS MY HAND AND NOTARIAL SEAL on the date and place above-written.

Doc. No. _____;


Page No._____;
Book No._____;
Series of 20___

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