Loan Contract Template

6. Standard Loan Contract Template Version 1.0 | Generated separately for every funded loan Loan Summary 6.1 Agreement The lender agrees to advance and the borrower agrees to borrow the principal on the terms of this contract. PesaPact provides administrative technology and is not the lender, borrower or guarantor. 6.2 Conditions before disbursement Successful identity and account verification. Acceptance of the final contract by both parties. Completion of any security or guarantor documentation. Confirmation that no material information supplied for the transaction is false. Completion of any required payment-provider checks. 6.3 Disbursement The lender will disburse the principal through the stated M-Pesa or approved payment flow. Any fee deducted from disbursement must appear in the Loan Summary. The borrower must receive a transaction confirmation. 6.4 Interest and calculation Interest will be calculated using the method stated in the Loan Summary. The platform must display a worked example and repayment schedule. Where wording and the numerical schedule conflict, the parties must correct the contract before funding. 6.5 Repayment schedule The borrower will pay the instalments shown in the attached schedule. Payments are allocated in the following disclosed order: [Not configured]. A payment made early will be treated according to the early-repayment clause and no undisclosed early-settlement fee may be imposed. 6.6 Late payment and default A payment not received by the due date enters a grace period of [Not configured] days. Thereafter, only the disclosed late fee or default interest may apply, subject to applicable law and fairness. Events of default may include material non-payment, fraud, insolvency, disposal of secured property without consent or material breach that is not cured after notice. Default does not accelerate the full balance or permit enforcement unless the contract and applicable law allow it and any required notice has been given. 6.7 Security and guarantees No asset is security unless it is precisely identified in a signed security document. Where registration or perfection is required, the lender is responsible for completing the lawful process. A guarantor must receive the complete contract, understand the maximum liability and separately accept the guarantee. PesaPact must not silently convert an emergency contact or reference into a guarantor. 6.8 Statements and disputes Each party may access the executed contract, schedule and recorded transactions. A disputed payment or balance must be raised promptly with supporting evidence. PesaPact may facilitate administrative mediation. Unless the parties sign a settlement, mediation does not alter the debt. 6.9 Notices Notices may be delivered through the platform, email, SMS or the addresses recorded in the contract. Formal enforcement notices must comply with any mandatory legal form and delivery requirement. 6.10 Governing law This contract is governed by Kenyan law. The parties will first attempt good-faith negotiation and may use mediation. If unresolved, either party may proceed before a court of competent jurisdiction unless a separately reviewed arbitration clause is inserted here: [Not configured]. 6.11 Electronic execution Each party confirms that they reviewed the complete contract, had an opportunity to obtain independent advice, accepted voluntarily and used the verified account stated below. The execution record should include document hash, version, timestamp, OTP or equivalent authentication, IP/device record, typed name and signature. Repayment Schedule Execution