Loan contract model

Loan Amount. 30,000 SAR

Interest Rate. N/A

Loan Term. 24 Months.

Repayment. 1,250 SAR /month on the 28th day of each month.

Late Payments. Payment shall be considered late if received by Mohammed 10 days after its due date

Prepayment. Deraya will not be penalized for early payment.

Waiver. The failure by either party to exercise any right, power or privilege under the terms of this Agreement will not be construed as a waiver of any subsequent or further exercise of that right, power or privilege or the exercise of any other right, power or privilege.

Governing Law and Jurisdiction. The Parties agree that this Agreement shall be governed by the States and/or Countries in which both Parties reside/do business. If the Parties reside/do business in different States and/or Countries, this Agreement shall be governed by Saudi Arabia’s law.

Entire Agreement. The Parties acknowledge and agree that this Agreement represents the entire agreement between the Parties. If the Parties desire to change, add, or otherwise modify any terms, they shall do so in writing to be signed by both parties. The Parties agree to the terms and conditions set forth above as demonstrated by their signatures as follows:

Lender : Mohammad Ali Borrower: Deraya

15/3/2020 15/3/2020

Stakeholder