LOAN CONTRACT
Loan Services Agreement
This loan Contract is entered into on December , 23 2024, by and between
the following parties:
Loan Provider:
Elias Waweru Ngunjiri
34407262
Nairobi, Kenya
Borrower
HERMAN OCHIENG DOME
29510375
Nairobi, Kenya
1. LOAN AMOUNT
The loan Provider agrees to loan the Borrower the amount of 30,000/-
via Mpesa.
2. DISBURSEMENT DATE
The loan will be disbursed to the Borrower effective immediately upon
signing of the contract by all parties on 23/12/2024.
3. INTEREST RATE
The loan will accrue interest at the rate of 27% of the loan amount,
which equals 8,100/-.
4. REPAYMENT T
The Borrower agrees to repay the full loan amount of 30,000/- plus
accrued interest (8,100) in one installment.Total amount due for
repayment: 38,100/-.The repayment is due on or before 23/03/2025.
5. LATE PAYMENT
If the Borrower fails to repay the loan by the agreed due date, a late
payment fee of 375/- per day will be charged for each day the
payment remains overdue.
6. PAYMENT METHOD
Repayment will be made via the Mpesa platform to the Loan
Provider’s specified wallet. The Loan Provider will provide the wallet
address to the Borrower in writing.
7. GOVERNING LAW
This Agreement shall be governed by and construed in accordance
with the laws of Kenya Section 16 (b).
8. ENTIRE AGREEMENT
This Agreement constitutes the entire understanding between the
Parties and supersedes all prior discussions, agreements, or
understandings of any kind.
9. MODIFICATION OF AGREEMENT
Any amendments or modifications to this Agreement must be made in
writing and signed by both Parties.
10. NDA
Loan provider is to observe the NDA agreements as they relate to the
borrower and the Constitution of Kenya. Privacy rights should not be
violated as it can lead to legal consequences.
11. SIGNATURES
By signing below, both Parties agree to the terms and conditions
stated above.
LOAN PROVIDER
Name: Elias Waweru. Ngunjiri
Signature: Date: December 23, 2024
BORROWER
Name: Herman Ochieng Dome
Signature: Date: December 23, 2024
L.S.K REPRESENTATIVE.
Name: Wafula Andrew Kituyi
Signature: Date: December 23, 2024
