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This loan Agreement shall be executed as of date between

[NAME] (PAN: _ ), S/o: [NAME], R/o: , hereinafter referred to as a Lender


which means, unless repugnant to the context, inclusive of its legal representatives, nominee(s),
administrator, and assignee;
And
[NAME] (PAN: _ ), S/o: [NAME], R/o: _ , hereinafter referred to as a Borrower
which means, unless repugnant to the context, inclusive of its legal representatives, nominee(s),
assignee, and administrator;
Whereas at the request of the Borrower, the Lender has agreed to grant a loan not exceeding an
amount of INR [AMOUNT] (IN NUMBERS) to the Borrower for a term of ________________ on
terms & conditions contained below

1. The Lender agrees to lend to a Borrower for a period of________ months a sum not
exceeding INR [AMOUNT] (IN NUMBERS), the Borrower accepts the loan and agrees to
repay the balance as per the terms and conditions laid down in this Agreement.

2. With regard to any matter arising under this Agreement, those courts shall have exclusive
jurisdiction over this Agreement to the competent courts within the local limits of whose
jurisdiction the Lender resides or normally carries out his business or personally works for
benefit.

3. Both parties represent covenants and warrant to each other that:


(a) He or she has read the privacy policy, all of the terms and conditions, and other material
available at the official website of ABC Technologies India Private Limited hereinafter
referred to as ABC.
(b) They agree to abide unconditionally by the terms and conditions, privacy policy and
other binding material contained on the ABC website.
(c) The information & financial details he or she submits on ABC’s website are true and
correct.
(d) They understand that ABC facilitates only meeting of Lenders and Borrowers and is
either not engaged or liable for lending or for ensuring that the Borrower repays the
amount lent on time.
(e) ABC will in no way be liable for any loss of money or infringement of privacy or leakage
of any confidential information.
(f) They have not provided any information that is incorrect or substantially impedes ABC’s
decision to either register him/her or allow him/her to be lent through the ABC website.
(g) They confirm that all types of communication and cash transactions between Borrower
and Lender are /have been made online through an online platform rendered by ABC.

4. The Borrower agrees to pay interest and additional charges to be paid on the Loan as follows:
(a) The Loan shall carry interest at a rate agreed under Schedule I to this Loan Agreement.
(b) The Borrower shall pay the interest, together with the principal and the penalty interest,
if any, on/prior to the 15th day of each month beginning from the month following the
month in which the Borrower is disbursed with the Loan by the Lender. These Loan
repayments shall continue until the date of complete loan repayment.
th
(c) For all money transfers made by a Lender to a Borrower by the 15 day of each month,
the first EMI shall be scheduled for payment by a Borrower on the next subsequent
month after the loan has been paid out.
(d) For all money transfers made by a Lender to a Borrower after the 15 th day of each
month, the first EMI is scheduled in payment by a Borrower on the month after the
immediately subsequent month of loan payout.
(e) Any default by a Borrower in payment of interest and/or principal duties will entail
additional charges as provided for in Schedule III of this loan Agreement. This is without
regard to the other rights open to a Lender under this Agreement and the relevant
legislation.
(f) However, given that the obligation to pay additional interest does not allow a Borrower
to file a claim in respect of which no default has occurred as set out herein.
(g) Borrower, at his sole discretion and payment of due principal, bank charges, interest to
a Lender can foreclose his loan from three months starting from the date of his first
Equated Monthly Instalment (EMI). In such a case, as the case may be, a Borrower will
remain bound to pay all payments owed to ABC. Post verifying all of ABC's details and
the Borrower's payment of dues the Agreement will be cancelled.
(h) Self-attested documents concerning identification, residential, and financial proof as
mandated by ABC will be rendered by a Borrower with authenticated documents.
(i) Without prejudice, a Borrower also unconditionally agrees with the EMI (Equated
Monthly Instalment) date to be prefixed by the intermediary ABC as set out in Schedule I
to this Agreement, which shall remain unchanged over the entire loan term exercised,
unless the Borrower has given otherwise specified reasons to ABC for its satisfaction.
(j) A Borrower shall also be liable to pay interest to a Lender, as set out in Schedule II of
this Agreement, for an additional number of days in excess of its scheduled EMI
(Equated Monthly Instalment) in the event that it collects funds for a period exceeding
thirty (30) days from the date of its first EMI (Equated Monthly Installment).

5. Both parties agree to the following regarding loan repayments:


(a) Borrower repayments to Lenders will be routed via an account of ABC collections, which
is used solely for collecting repayments and ABC doesn’t hold any balances or earn
interest on the balance held in this account. ABC is not liable for any delay in receiving
Borrowers ' payments or for any delay in distributing those repayments to Lenders.

(b) A Borrower would make single consolidated repayments (inclusive of additional interest
and fees as applicable) payable to all Lenders in that collection account
(c) Consolidated repayments from that collection account would be received by the Lender.
Repayments may be staggered if several Borrowers to whom the Lender has lent money
have different EMI due dates for repayment (e.g. Lender has lent to 4 Borrowers where
2 Borrowers have a repayment due date on the 5 th, and 2 Borrowers have a repayment
due date on the 10th–in this case, the Lender may receive 2 staggered payments on the
5th and 10th of the month).
(d) The Lender authorises ABC to utilize the collections account to receive Borrower
repayments on their behalf and to transfer repayments as soon as practicable to the
Lenders account.
(e) The Borrower authorises ABC to receive repayments from the bank account of the
Borrowers for repayment to the bank account of the Lenders.
(f) The Borrower agrees to submit the following information within 7 days as required by
ABC –
a. 1 cheque favouring Faircent collections account for the initial EMI inclusive of
interest for additional days as mentioned in Section 3 (i)
b. 1 NACH instruction favouring ABC collections account. The NACH instructions
will be for a maximum amount which is equal to the EMI amount + Rs.
_________/- to accommodate charges any dishonour of cheques and penal
charges. ABC will only process the NACH instructions as per the overdue amount
each month.
c. 1 cheque favouring ABC collections account to be utilised as second EMI in case
the NACH instructions are not processed within the second EMI becomes due.
d. 2 cheques per Lender favouring a Lender for the overall outstanding to a Lender
to be utilized as security in case of default by a Borrower in the repayment of
the Loan.

(g) The Borrower will not close their bank account without advance intimation to ABC
and the Borrower shall substitute all cheques and NACH instructions in the event that such an
account is closed.

(h) The Lender shall not close their bank account without advance intimation to ABC and, if
that account is closed, ABX shall be updated immediately by the Lender in writing.
(i) Only bank accounts from banks supervised by RBI shall be used by the Borrower and the
Lender for making or receiving payments under this Agreement.

6. The Lender will disburse to the Borrower's account an amount equal to INR [ AMOUNT] (IN
NUMBERS) within 7 days after ABC has fulfilled the Borrowers ' condition for the funds.

7. This Agreement will get terminated automatically and get cancelled immediately, it will have
no legal effect if the Borrower fails to apply the checks for repayment and NACH instructions
and/or the Lender refuses to disburse the funds within 7 days of receiving instructions from
ABC.

8. The Borrower will only use the said loan for the reason stated in the registration and the
loan will not be used for any other purpose. The Borrower shall intimate the intent for which
the use of this loan amount is desirous.

9. At a Lender’s option, and without any order or notice to a Borrower, all of which are hereby
expressly waived by the Borrower and notwithstanding anything stated herein, the said
duties and all the obligations of the Borrower to a Lender shall become due immediately and
payable irrespective of any agreed maturity and the Lender shall be entitled to enforce its
security, inclusive of presenting cheques provided to a Lender upon the occurrence of any of
the following events:

(a) If any statements/ representations/particulars made in a Borrower’s


application/proposal are found to be not correct or
(b) A Borrower breaches any term that is set out in this Agreement;
(c) A Borrower misses to repay any 2 installments of the loan amount on the stipulated
date on which the payment was due;
(d) If any distress execution, attachment, or any other such processes is initiated against
a Borrower;
(e) If a Borrower threatens or ceases to carry/cease on its profession or business;
(f) If a Borrower makes any settlement or compromise with any of his/her creditor for
any payment of dues to such creditor.
(g) If any action related to insolvency is filed against a Borrower.

10. The rights, remedies, and powers given to a Lender via this Agreement will be in addition to
all rights, remedies, and powers given to a Lender by virtue of any other statute, security, or
rule of law. A Lender may exercise a lien or right of set-off in respect of any obligation on the
Lender by the Borrower in the same manner as if the obligations were unsecured and has a
lien on all the property / credit balance in any other account of the Borrower or the
Borrower's securities in the Lender's possession or custody, whether for security or
otherwise. If the balance outstanding in the Loan account is not repaid within the prescribed
time upon request by the Lender, the credit balance in any account may be changed to
duties under the Loan account. In the event of any deficit, the Borrower can recover the sum
of the deficit from the Lender. Any failure/delay by a Lender in the exercise of any right,
power or remedy hereunder shall not be considered to be waiver of such right, power or
remedy and any sole or partial exercise thereof of any right, power or remedy shall not
prevent any further exercise thereof and any right and remedy of the Lender shall continue
in full force and effect until such right, power or remedy has been exercised.

11. A Borrower hereby acknowledges and gives the consent for disclosures by a Lender of all or
any such;
(a) Data/information in relation to it;
(b) The data/information relating to any credit facility availed of/to be availed by it
(c) Default if any incurred by it in discharge of our such obligation, as a Lender may
consider it appropriate and necessary to disclose and provide information to Credit
Information Agencies and any other agency approved by RBI in this name;
(d) A Borrower declares that the data/information furnished by it to a Lender are true and
accurate.

12. The Borrower undertakes that;


(a) Credit Information Agencies and any other approved entity may use or process the
information and information disclosed by the Lender
(b) the Credit Information Agencies and any other agency to authorised to furnish for
consideration, the processed information and data or products thereof prepared by
them to Banks / financial institutions and other credit grantors or registered users as
may be specified by the Reserve Bank in this behalf;

13. The Borrower shall indemnify and hold a Lender harmless from and against any and all
damages, losses, or other consequences that may arise or result from giving the Loan to a
Borrower and shall, upon request, reimburse the Lender for all such sums, and shall, at the
Borrower's own costs and expenses, appear and defend any action that may be brought
against the Lender in connection therewith. The Borrower and the Lender acknowledge that
ABC is not obliged to fulfill any obligation for them and that the transaction between them is
facilitated only by a service provider to them.

14. In case of any loss/damage to ABC due to any act of omission or commission, directly or
indirectly by any one, Lender or a Borrower, each of them, as the case maybe, shall
indemnify ABC. Without prejudice to the foregoing, a Lender hereby admits that since ABC
Technologies India Private Limited, is only a platform, which has brought a Lender and a
Borrower together and is otherwise not responsible/liable for the conduct of a Borrower in
any manner, a Lender will not under any circumstances hold ABC Technologies India Private
Limited liable or responsible if a Borrower defaults on any of his/her/its obligations
concerning a Lender howsoever and wherever prescribed, in any manner whatsoever.
Further, a Lender recognises that ABC Technologies India Private Limited hasn’t made any
representation about a Borrower or his/her credit worthiness and that a Lender will
lend/has lent the monies to a Borrower, only on a Lender’s judgement about a Borrower
and relying on the representations made to a Lender by a Borrower.

15. The Borrower shall reimburse and pay to the Lender all costs, charges and expenses,
including stamp duty and legal costs on the basis of actual costs and other charges and
expenses that may be incurred in the processing of such gifts and related to and or
incidental documents and the protection of the Lender's rights there under or under any
other security Agreement created/executed by a Borrower in favour of a Lender.

16. The Borrower agrees to accept the account statement sent by the Lender or by any other au
thorized representative of a Lender as conclusive proof of the correctness of any such claim.

17. Any notice/demand hereunder shall be in writing signed by any Lender’s Officers and may
be made by leaving the same or sending it via post addressed to a Borrower at the address
mentioned above or the address last known to a Lender; and a notice/demand so given or
made shall be considered to be given or made on the day it was so left or, as the case may
be, 2 business days following that on which it was so posted, and will be effectual
notwithstanding that the same may be returned undelivered and notwithstanding a
Borrower’s address change.

18. Borrower hereby, confirms that any changes in Permanent Address, Residence address,
Employment Status or organization structural changes concerning to his/her job profile, will
intimate the Lenders within 3 working days via a mail at Lender’s E-mail id as mentioned in
the Schedule ll, with a cc to support@abc.com. Failing to comply with these conditions may
result in the Borrower facing legal action or otherwise as the Lenders deem necessary.

19. When, for any reason, any clause of this Agreement is unlawful, null or unenforceable, it will 
be separated from the remaining provisions if it remains unaffected.

20. Until investing, the Lender is advised to assess both possible risks and potential benefits
shrewdly. Faircent.com is a marketplace that carefully reviews and lists profiles of
Borrower(s) of all forms of investors with varying risk appetites. For each Borrower,
Faircent.com presents all relevant facts at its disposal; however, investment decision rests
solely with the investor.

21. "Borrower agrees that in the actual absence of the Lender to claim the principal and the
accrued interest outstanding as the case may be, all the privileges vested on the Lender will
be given to the applicant."
Schedule I: Amortization Schedule

EMI
Calculator
Loan Amount
Loan Term
(Years)
Rate of Interest
Payments Per
Year
Monthly
Installment
EMI due date
S. Month Inter Princi Bala
N ly est pal nce
o Install
ment
0
1
2
3
4
5
6
7
8
9
10
11
12
Schedule II

Lender’s Details

Nam
e:
PAN:
Father’s name:
Address:

Borrower’s Details

Nam
e:
PAN:
Father’s name:
Address:

Guarantor's
Details

Name:
PAN No:
Father's name:
Address:
Email-Id:

Nominee details
Nam
e:
PAN:
Address:

Schedule III

Collections charges (towards ABC): Rs. 500/-

Late charges (towards the Lender): Rs. 100/- per Lender if the installment payment gets delayed by
up to 10 days and Rs. 250/- per Lender if the installment gets delayed by more than 10 days. These
charges will be applicable for every instance of delayed repayment.