Sample car loan agreement

• For reviewing an application for a car loan,
• For issuing a car loan,
• For opening a credit account in a bank,
• For issuing a credit card,
• For account servicing,
• For transferring or accepting loan payments,
• For transferring payment from rubles to foreign currency (if the car loan is in $).

CASCO auto and life insurance for the borrower

Most car loan programs and, accordingly, car loan agreements include a mandatory CASCO insurance condition for the loan vehicle. Many car enthusiasts consider this point superfluous, since it requires financial costs at the very beginning of applying for a car loan.

Is it possible to take out a car loan without CASCO? Some banks provide this opportunity, but in return they increase the loan rate. It seems that there is no CASCO insurance, but the costs are the same.

It turns out that not all car enthusiasts realize the importance of CASCO for a car in general, and for credit in particular.

The CASCO insurance contract implies insurance payments:

• If found guilty of an accident,
• Car theft insurance,
• Insurance against damage, both natural and physical.

Sometimes the CASCO insurance premium will be up to ten percent of the cost of the car, but who can guarantee that your car will pass by all the troubles and disasters?

When sad moments come in the life of a motorist, they usually remember not the cost of CASCO, but the amount of insurance payments. Therefore, a car loan without CASCO is not the best option for the borrower.

Analyzing the car loan market, we can say that loans with incomplete CASCO or CASCO with a deductible are available for car enthusiasts, which reduces the borrower’s costs, but at the same time partially protects the car. If a car of a prestigious brand is purchased on credit, then CASCO insurance against theft will be necessary, since car theft will not exempt you from repaying the car loan, as is eloquently stated in the terms and conditions of the car loan agreement.

The best option for the borrower would be to include the insurance premium in the body of the loan, that is, the car loan agreement stipulates that the bank pays for the insurance, and the borrower pays its amount to the bank, along with the car loan.

For a large car loan amount, and also depending on the individual conditions of the car loan, you will need not only MTPL, DSAGO, CASCO policies, but also life insurance for the borrower. This point should also be reflected in the car loan agreement. The bank, of course, does not care about the health of the borrower, but about the return of borrowed funds.

What restrictions does a car pledge impose?

Of course, most of those who took out a car on credit understand that there are restrictions on owning a car.

A similar clause should also be present in the car loan agreement. Although this requirement is present in the contract, the number of fraudsters with credit cars is not decreasing. Buyers of used cars on the secondary market should be especially careful, as there is a risk of buying a credit car.

The car loan agreement contains a clause stating that the original title of the car is kept in the bank until the car loan is fully repaid. But nothing prevents scammers from selling collateralized cars from getting a duplicate title from the traffic police and selling the car on credit. This is one of the “gaps” in the legislative link between the bank and the police, since there is no single database of credit cars.

Termination of a car loan agreement

In this clause of the agreement, the bank stipulates possible actions in the event of termination of the agreement if the borrower is unable to repay the car loan. The situation is, to put it mildly, unpleasant, but vital; no one is immune from loan debts.

For example, job loss, illness, theft, fire, etc. are capable of knocking the most respectable borrower out of a financial rut.

If it is not possible to find a compromise solution for restructuring, then you will have to sell the credit car. The main thing here is to act with the consent of the bank, i.e. car sale after bank approval.

Selling a car with the approval of the bank is the most acceptable option for repaying a car loan. The worst option would be for the credit car to be seized by bailiffs by court decision.

It is not difficult to guess that no matter the price of the car, the bailiffs will sell it much cheaper. In this situation, the amount from the sale of the car may not be enough to repay the balance of the car loan.

Therefore, all conditions for terminating a car loan agreement must be stipulated “on paper” so that the borrower submits all fiscal sanctions in the event of the formation of a bad debt on a car loan.

Simple car loan rules for the borrower

Summarizing the above, certain rules arise for the borrower of a car loan, thanks to which it will be possible to avoid problems that may arise in the process of applying for and repaying a car loan:

1. Carefully and thoroughly, together with a lawyer, study the car loan agreement with the bank.
2. If some of the terms of the contract do not suit you, and the bank is not going to concede them, it is wiser to contact another bank.
3. If you have no experience in obtaining a profitable loan, you should seek help from a credit broker.
4. Insuring a new car, as well as a used one, is not a luxury, but a reasonable prudence.
5. If debt and loan debt arise, you should not aggravate the situation with car loan fraud.
6. After the adoption of the Law on Bankruptcy of Individuals, carefully study its clauses and do not hope that banks will permanently write off debts.

Car loan agreement sample 2018 free download

Car loan agreement sample 2018 free download

CAR LOAN AGREEMENT N ___

1. THE SUBJECT OF THE AGREEMENT

1.1. The Bank provides the Borrower with funds (hereinafter referred to as the “loan”) for the purpose of purchasing a vehicle ________________________________ from _____________________________________ (hereinafter referred to as the “Seller”), and the Borrower undertakes to return the received loan to the Bank and pay interest for its use under the terms of this Agreement.

2. LOAN CONDITIONS

2.1. The Bank provides the Borrower with a loan in the amount of ________ (__________) rubles by crediting funds to the Borrower's account No. __________ opened with the Bank within _______________________________________.

2.2. The loan is considered granted from the moment funds are credited to the Borrower’s current account opened with the Bank, and returned on the day the Borrower repays the entire amount of the loan outstanding.

2.3. The loan is provided to the Borrower for a period of ________________________________.

2.4. The interest rate for using the loan is set at _____ percent per annum.

2.5. When calculating interest, the actual number of calendar days in a month is taken into account, while the actual number of days in a year is taken as the base.

Interest for using the loan is accrued from the day following the date of issuance of the loan until the day that is the date of actual repayment of the loan on the balance of the loan debt. Interest on the loan taken into account in the monthly payment is calculated for the period from the established payment repayment date in the previous month to the established payment repayment date in the current month, except for the first and last payment. The first payment includes part of the principal debt and interest accrued from the day following the date of actual provision of the loan until the established payment repayment date in the current month. The first payment may be larger than the monthly payment. The final payment includes part of the principal and interest accrued for the period from the due date of payment in the previous month to the date of full repayment of the loan, inclusive.

3. LOAN REPAYMENT CONDITIONS

3.1. Payment by the Borrower of monthly payments, including the amounts of accrued interest, commissions and part of the principal debt, occurs by writing off the corresponding amount by the Bank from the Borrower's current account specified in clause 2.1 of this Agreement.

3.2. The Borrower is considered to have fulfilled its obligations properly if the loan amount and/or its part, as well as the amount of interest and commissions are credited to the Bank’s account in accordance with the period and in the amount specified in clause 2.1 of this Agreement.

3.3. If the date of repayment of the loan (or part thereof), as well as interest for using the loan, falls on a non-working day, payment of interest and fees for using the loan and debt on the loan is made on the first business day following the non-working day on which the date of repayment of the loan falls, in the amount of the monthly payment.

3.4. In case of violation of the loan repayment deadlines or interest payment deadlines, the Bank has the right to demand increased interest from the Borrower in the amount of _____ (________) percent of the unreturned and/or unpaid amount for each day of delay.

3.5. If there are no funds on the Borrower's current account specified in clause 2.1 of this Agreement sufficient to repay the Borrower's debt for loan repayment and interest payments, the debt in part of the missing amount of funds is considered overdue.

3.6. Amounts received from the Borrower, regardless of the purpose of payment specified in the payment document, are sent by the Bank to repay the debt under the Agreement in the following order:

- first of all - increased interest and penalties provided for in clause 3.4 of this Agreement;

- secondly - overdue interest;

- thirdly - urgent interest;

- fourthly - overdue loan debt;

- fifthly - urgent loan debt.

3.7. The order of debt repayment may be changed by the Bank unilaterally by sending the Borrower a notice of the change in the order of debt repayment. In this case, the order of debt repayment is considered changed from the date the Borrower receives the notification, and the Borrower's debt is subject to repayment in the sequence established in the notification.

3.8. The Borrower's obligations are considered to be properly and fully fulfilled after the return to the Lender of the entire loan amount, payment of interest for using the loan, increased interest for late repayment of the loan, fines in accordance with the terms of this Agreement determined on the date of loan repayment, and reimbursement of expenses associated with debt collection.

4. RIGHTS AND OBLIGATIONS OF THE BANK

— provide the Borrower with a loan in the amount, manner, on the terms and within the terms established by this Agreement, by crediting (transferring) the loan amount to the Borrower’s current account specified in clause 2.1 of this Agreement, within the period _________________;

— provide the Borrower with statements of the loan account upon his request.

4.2. The bank has the right:

- in the event of termination of this Agreement (if there is a debt on the Borrower’s loan account under this Agreement), demand from the Borrower the return of the debt on the loan, interest due for using the loan, for late repayment of the loan, fines and expenses specified in clause 3 of this Agreement.

5. RIGHTS AND OBLIGATIONS OF THE BORROWER

5.1. The borrower is obliged:

5.1.1. Use the loan in the amount, within the terms and for the purposes provided for in this Agreement.

5.1.2. Repay the loan in full within the time limits established by this Agreement.

5.1.3. Pay the Bank interest for using the loan in the amount and manner provided for in this Agreement.

5.1.4. Reimburse the Bank for operating and other banking expenses related to the execution of this Agreement.

5.1.5. Pay the Bank increased interest for late repayment of the loan, fines in the amount and manner provided for in this Agreement.

5.1.6. Within three days, notify the Bank of a change in the registration address, actual place of residence, work, last name or first name and the occurrence of circumstances that could affect the Borrower’s fulfillment of obligations under this Agreement.

5.1.7. If the Borrower returns to the Seller a vehicle purchased through a loan, notify the Bank of its decision, and also ensure the return of the funds paid for the vehicle by the Seller by transferring them to the Borrower’s current account with the Bank. If the amount transferred by the Seller is sufficient to repay the principal debt and accrued interest, then the Borrower’s obligations to the Bank are considered fulfilled. In the event that the amount transferred by the Seller for the returned vehicle is insufficient to repay the Borrower’s debt under this Agreement, the Borrower is obliged to fulfill its obligations to the Bank until its debt is fully repaid.

5.1.8. Do not transfer debt or otherwise transfer your rights and obligations under this Agreement without the written consent of the Bank.

5.1.9. Be responsible for your obligations to the Bank with all your property within the limits of the loan debt, interest, fines and expenses related to the collection of loan debt.

5.2. The borrower has the right:

5.2.1. If the Bank increases the interest rate specified in clause 2.4 of this Agreement, the Borrower has the right to repay the entire loan amount on the terms of charging the previous interest rate within ______________ from the Borrower’s receipt of notice of the increase in the interest rate by registered mail with notification to the recipient.

5.2.2. Make early full or partial repayment of the loan with payment of interest accrued on the repayment date, fines and commissions. In the event of early repayment by the Borrower within the first three months from the date of issuance of the loan, the amount of the principal debt on the loan and the amount of accrued interest, the Bank has the right to charge a commission from the Borrower in the amount established in accordance with the Bank's tariffs.

6. DURATION OF THE AGREEMENT. GROUNDS AND PROCEDURE FOR EARLY TERMINATION OF THE AGREEMENT

6.1. This Agreement comes into force on the date of its signing and is valid until the Parties fully fulfill their obligations under this Agreement.

6.2. The Bank has the right to early collect the debt under this Agreement in the following cases:

a) the Borrower’s delay in repaying the loan and paying interest provided for in this Agreement in the form of monthly payments more than two times in a row;

b) foreclosure on all or part of the Borrower’s property, which the Bank recognizes as significant; or a claim will be brought against the Borrower for the payment of a sum of money or for the recovery of property, the amount of which the Bank recognizes as significant;

c) if the funds in the Borrower’s accounts (including an account opened with the Bank) and/or his other property are seized;

d) the Borrower’s disagreement with changing the amount of interest paid for using the loan.

6.3. For early collection of the loan and interest on it on the grounds provided for in clause 6.2 of this Agreement, as well as the legislation of the Russian Federation, the Bank sends the Borrower a corresponding notice.

6.4. Grounds for early termination of this Agreement.

6.4.1. In case of early collection of the loan in accordance with the terms of clause 6.2 of this Agreement.

6.4.2. If the Borrower misuses the loan provided by the Bank, this Agreement may be terminated with written notice to the Borrower.

6.5. On the grounds specified in clause 6.4 of this Agreement, the Bank unilaterally (out-of-court) has the right to terminate this Agreement with written notice to the Borrower.

7. FINAL PROVISIONS

7.1. All changes to this Agreement must be made in writing in the form of an additional agreement to this Agreement. These changes are an integral part of this Agreement.

7.2. All disputes and disagreements under this Agreement, if they are not resolved through negotiations, shall be submitted to the court at the location of the Borrower/Bank.

7.3. This Agreement is drawn up in two copies having equal legal force, one for each of the Parties.

8. ADDRESSES AND DETAILS OF THE PARTIES

8.1. Bank: ______________________________________________________________

8.2. Borrower: _________________________________________________________________

What clauses does the car loan agreement contain? What does he look like?

Car lending is a transaction involving three parties (the bank, the buyer and the seller - the dealership), in some cases the fourth party is an insurance company. The purchase and sale agreement is concluded in a standard form.

As in any other transaction, the document must be carefully read before signing and all unclear points clarified in advance.

We will talk about what terms of the car loan agreement you should pay close attention to.

First of all, you need to understand that, unlike a purchase and sale agreement, which is valid exactly until the money is transferred, a lending agreement will be valid until the person fully pays off the debt.

What should usually be reflected in the document?

The deal is usually concluded for a fairly large amount, so there is nothing shameful in inviting a lawyer with you to the bank who can clearly explain to you all the incomprehensible points.

Some lenders allow you to take the documents home with you and carefully study it for several days. Unfortunately, this is not available everywhere, so we advise you to inquire about this opportunity in advance.

You can download a standard sample car loan agreement from this link.

First of all, it describes in detail the subject of the contract - the car. And more specifically:

• car model, year of manufacture;
• VIN code;
• engine number;
• color;
• PTS.

Put your signature on the document only if you are fully satisfied with the lender’s conditions and all these points:

1. accepted payment procedure . The agreement must indicate whether annuity or differentiated payments will be accrued to the client, and specify the loan period and interest rate for this period. Check whether the bank has the right to unilaterally change the rate. If you miss this, at one point you may just see your car loan debt increase;
2. Are there any additional fees or commissions ? For example, for maintaining or servicing an account, for reviewing a package of documents or renting a safe deposit box for transferring money. In fact, all these payments can be considered illegal, because the bank already receives payment from the client in the form of interest under the agreement;
3. Is there a payment schedule ? This is usually a separate sheet on which it is written out monthly how much and when the client needs to pay according to the terms of the contract. Check whether the amount of overpayment has increased compared to what was previously agreed upon.

Fines and penalties

When understanding what clauses a car loan agreement contains, one must not lose sight of the most important point - the sanctions and fines that will be imposed on the borrower if he fails to fulfill his obligations.

The rate of interest and the amount of the fine are stated in a fixed amount or as a percentage, it is indicated that the amount will increase in proportion to the growth of the debt.

Here you need to once again assess the load on your budget and think a little about force majeure, because a problem could easily happen due to which you will not be able to make payments.

Will the commission amount be feasible in this case?

The possibility of early repayment also requires close attention from the future borrower. Few people want to see a commission if they decide to pay off their debt early.

The contract must detail the conditions for early repayment, when it is permissible, when it is not, and whether an additional fee is charged for it.

The ideal option for the borrower is no fees for early repayment and the ability to do this at any time, subject to notification to the bank in advance.

Rights and obligations of the parties

This section of the car loan agreement discusses the need to purchase a car insurance policy and life insurance for the borrower himself. If a policy is purchased, its validity period and the amount of contributions are specified.

The right of the bank to recover a vehicle (collateral under an agreement) is indicated in situations where:

1. the loan was not used for its intended purpose;
2. if the client has a loan debt;
3. if the security under the contract is damaged or lost;
4. in a situation where the borrower provided the lender with unreliable or deliberately false information and in a number of other cases.

You should also pay attention to the client’s ability to refinance the agreement in an unforeseen situation, which has a direct impact on his ability to pay the loan.

In conclusion, to all the points described above, the contract specifies additional conditions that the parties can discuss among themselves and enter into the document as soon as they reach agreement.

Car loan for a truck - https://bankiweb.ru/avtokredit/gruzovoy-avtomobil/.

What documents are needed for a car loan - read here.

In addition to the standard details of the parties and a detailed description of the subject of the transaction, the document touches on a lot of important points that are worth studying carefully.

An inexperienced person may have the mistaken opinion that the borrower has continuous obligations under the contract, while the lender has complete rights.

But it is not so. According to federal laws, the bank is obliged to provide its customers with reliable and complete information about lending conditions, otherwise the organization will be held liable for this.

Always check information about the participants in the transaction and the subject of the loan itself, the details of the seller and the terms of the loan. All information must be filled out without errors to avoid future disputes.

Be sure to clarify exactly how the collateral is specified, because some banks require that the collateral is not the purchased car, but the borrower’s personal property.

If unforeseen circumstances arise, the latter may lose property.

Pay attention to all the points described in the text, because the amount of overpayment on the loan will depend on this, and do not agree to conditions that are obviously unfavorable for you (if, for example, the bank reserves the right to unilaterally change the rate).

Car loan agreement

Sample document:

CAR LOAN AGREEMENT N ___

1. THE SUBJECT OF THE AGREEMENT

1.1. The Bank provides the Borrower with funds (hereinafter referred to as the “loan”) for the purpose of purchasing a vehicle ________________________________ from _____________________________________ (hereinafter referred to as the “Seller”), and the Borrower undertakes to return the received loan to the Bank and pay interest for its use under the terms of this Agreement.

2. LOAN CONDITIONS

2.1. The Bank provides the Borrower with a loan in the amount of ________ (__________) rubles by crediting funds to the Borrower's account No. __________ opened with the Bank within _______________________________________.

2.2. The loan is considered granted from the moment funds are credited to the Borrower’s current account opened with the Bank, and returned on the day the Borrower repays the entire amount of the loan outstanding.

2.3. The loan is provided to the Borrower for a period of ________________________________.

2.4. The interest rate for using the loan is set at _____ percent per annum.

2.5. When calculating interest, the actual number of calendar days in a month is taken into account, while the actual number of days in a year is taken as the base.

Interest for using the loan is accrued from the day following the date of issuance of the loan until the day that is the date of actual repayment of the loan on the balance of the loan debt. Interest on the loan taken into account in the monthly payment is calculated for the period from the established payment repayment date in the previous month to the established payment repayment date in the current month, except for the first and last payment. The first payment includes part of the principal debt and interest accrued from the day following the date of actual provision of the loan until the established payment repayment date in the current month. The first payment may be larger than the monthly payment. The final payment includes part of the principal and interest accrued for the period from the due date of payment in the previous month to the date of full repayment of the loan, inclusive.

3. LOAN REPAYMENT CONDITIONS

3.1. Payment by the Borrower of monthly payments, including the amounts of accrued interest, commissions and part of the principal debt, occurs by writing off the corresponding amount by the Bank from the Borrower's current account specified in clause 2.1 of this Agreement.

3.2. The Borrower is considered to have fulfilled its obligations properly if the loan amount and/or its part, as well as the amount of interest and commissions are credited to the Bank’s account in accordance with the period and in the amount specified in clause 2.1 of this Agreement.

3.3. If the date of repayment of the loan (or part thereof), as well as interest for using the loan, falls on a non-working day, payment of interest and fees for using the loan and debt on the loan is made on the first business day following the non-working day on which the date of repayment of the loan falls, in the amount of the monthly payment.

3.4. In case of violation of the loan repayment deadlines or interest payment deadlines, the Bank has the right to demand increased interest from the Borrower in the amount of _____ (________) percent of the unreturned and/or unpaid amount for each day of delay.

3.5. If there are no funds on the Borrower's current account specified in clause 2.1 of this Agreement sufficient to repay the Borrower's debt for loan repayment and interest payments, the debt in part of the missing amount of funds is considered overdue.

3.6. Amounts received from the Borrower, regardless of the purpose of payment specified in the payment document, are sent by the Bank to repay the debt under the Agreement in the following order:

- first of all - increased interest and penalties provided for in clause 3.4 of this Agreement;

- secondly - overdue interest;

- thirdly - urgent interest;

- fourthly - overdue loan debt;

- fifthly - urgent loan debt.

3.7. The order of debt repayment may be changed by the Bank unilaterally by sending the Borrower a notice of the change in the order of debt repayment. In this case, the order of debt repayment is considered changed from the date the Borrower receives the notification, and the Borrower's debt is subject to repayment in the sequence established in the notification.

3.8. The Borrower's obligations are considered to be properly and fully fulfilled after the return to the Lender of the entire loan amount, payment of interest for using the loan, increased interest for late repayment of the loan, fines in accordance with the terms of this Agreement determined on the date of loan repayment, and reimbursement of expenses associated with debt collection.

4. RIGHTS AND OBLIGATIONS OF THE BANK

— provide the Borrower with a loan in the amount, manner, on the terms and within the terms established by this Agreement, by crediting (transferring) the loan amount to the Borrower’s current account specified in clause 2.1 of this Agreement, within the period _________________;

— provide the Borrower with statements of the loan account upon his request.

4.2. The bank has the right:

- in the event of termination of this Agreement (if there is a debt on the Borrower’s loan account under this Agreement), demand from the Borrower the return of the debt on the loan, interest due for using the loan, for late repayment of the loan, fines and expenses specified in clause 3 of this Agreement.

5. RIGHTS AND OBLIGATIONS OF THE BORROWER

5.1. The borrower is obliged:

5.1.1. Use the loan in the amount, within the terms and for the purposes provided for in this Agreement.

5.1.2. Repay the loan in full within the time limits established by this Agreement.

5.1.3. Pay the Bank interest for using the loan in the amount and manner provided for in this Agreement.

5.1.4. Reimburse the Bank for operating and other banking expenses related to the execution of this Agreement.

5.1.5. Pay the Bank increased interest for late repayment of the loan, fines in the amount and manner provided for in this Agreement.

5.1.6. Within three days, notify the Bank of a change in the registration address, actual place of residence, work, last name or first name and the occurrence of circumstances that could affect the Borrower’s fulfillment of obligations under this Agreement.

5.1.7. If the Borrower returns to the Seller a vehicle purchased through a loan, notify the Bank of its decision, and also ensure the return of the funds paid for the vehicle by the Seller by transferring them to the Borrower’s current account with the Bank. If the amount transferred by the Seller is sufficient to repay the principal debt and accrued interest, then the Borrower’s obligations to the Bank are considered fulfilled. In the event that the amount transferred by the Seller for the returned vehicle is insufficient to repay the Borrower’s debt under this Agreement, the Borrower is obliged to fulfill its obligations to the Bank until its debt is fully repaid.

5.1.8. Do not transfer debt or otherwise transfer your rights and obligations under this Agreement without the written consent of the Bank.

5.1.9. Be responsible for your obligations to the Bank with all your property within the limits of the loan debt, interest, fines and expenses related to the collection of loan debt.

5.2. The borrower has the right:

5.2.1. If the Bank increases the interest rate specified in clause 2.4 of this Agreement, the Borrower has the right to repay the entire loan amount on the terms of charging the previous interest rate within ______________ from the Borrower’s receipt of notice of the increase in the interest rate by registered mail with notification to the recipient.

5.2.2. Make early full or partial repayment of the loan with payment of interest accrued on the repayment date, fines and commissions. In the event of early repayment by the Borrower within the first three months from the date of issuance of the loan, the amount of the principal debt on the loan and the amount of accrued interest, the Bank has the right to charge a commission from the Borrower in the amount established in accordance with the Bank's tariffs.

6. DURATION OF THE AGREEMENT. GROUNDS AND PROCEDURE FOR EARLY TERMINATION OF THE AGREEMENT

6.1. This Agreement comes into force on the date of its signing and is valid until the Parties fully fulfill their obligations under this Agreement.

6.2. The Bank has the right to early collect the debt under this Agreement in the following cases:

a) the Borrower’s delay in repaying the loan and paying interest provided for in this Agreement in the form of monthly payments more than two times in a row;

b) foreclosure on all or part of the Borrower’s property, which the Bank recognizes as significant; or a claim will be brought against the Borrower for the payment of a sum of money or for the recovery of property, the amount of which the Bank recognizes as significant;

c) if the funds in the Borrower’s accounts (including an account opened with the Bank) and/or his other property are seized;

d) the Borrower’s disagreement with changing the amount of interest paid for using the loan.

6.3. For early collection of the loan and interest on it on the grounds provided for in clause 6.2 of this Agreement, as well as the legislation of the Russian Federation, the Bank sends the Borrower a corresponding notice.

6.4. Grounds for early termination of this Agreement.

6.4.1. In case of early collection of the loan in accordance with the terms of clause 6.2 of this Agreement.

6.4.2. If the Borrower misuses the loan provided by the Bank, this Agreement may be terminated with written notice to the Borrower.

6.5. On the grounds specified in clause 6.4 of this Agreement, the Bank unilaterally (out-of-court) has the right to terminate this Agreement with written notice to the Borrower.

7. FINAL PROVISIONS

7.1. All changes to this Agreement must be made in writing in the form of an additional agreement to this Agreement. These changes are an integral part of this Agreement.

7.2. All disputes and disagreements under this Agreement, if they are not resolved through negotiations, shall be submitted to the court at the location of the Borrower/Bank.

7.3. This Agreement is drawn up in two copies having equal legal force, one for each of the Parties.

8. ADDRESSES AND DETAILS OF THE PARTIES

8.1. Bank: ______________________________________________________________

8.2. Borrower: _________________________________________________________________