WORKING CAPITAL LOAN AGREEMENT

Between

BILLS MICRO-CREDIT LIMITED

and

ELIZABETH MENSAH
……………………………………………………
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TABLE OF CONTENTS

1 PARTIES ................................................................................................................. 3
2 LOAN....................................................................................................................... 3
3 INTEREST ............................................................................................................... 3
4 CHARGES............................................................................................................... 3
5 SECURITY ............................................................................................................... 3
6 REPAYMENT .......................................................................................................... 4
7 ACCELERATION .................................................................................................... 4
8 BREACH ................................................................................................................. 5
9 PROOF OF INDEBTEDNESS ............................................................................... 5
10 RENUNCIATION OF BENEFITS .......................................................................... 5
11 APPLICABLE LAW AND JURISDICTION ...........................................................6
12 NOTICES AND DOMICILIUM ................................................................................6
13 GENERAL ................................................................................................................ 7
14 COSTS ..................................................................................................................... 8

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WHEREBY THE PARTIES AGREE AS FOLLOWS:

1 PARTIES
The parties to this agreement are:
1.1. BILLS & INVESTMENT MICRO-CREDIT LIMITED of Citizen Kofi House, Osu
Danquah Circle, Accra, hereinafter referred to as the “Lender”; and
1.2. ELIZABETH MENSAH
…………………………………………………………., with Registration Number:
…………………………………………
6-645-90hereinafter referred to as the Borrower.
2 LOAN
2.1 The Lender hereby undertakes to lend to the Borrower which hereby
3000
agrees to borrow the sum of ………………………………………………………. ("Loan") for a
period of Three (3) months at a monthly interest rate of twelve percent
(12%) per month on and subject to the terms and conditions hereinafter
set out.
2.2 The Lender shall advance the full amount of the loan together with
interest to the Borrower forthwith against receipt by the Lender of the
security referred to in clause 5 in favour of the Lender on the terms and
conditions set out in Annexure “A” hereto.
3 INTEREST
3.1 The Loan will bear interest at an annual rate of one hundred and forty-
four percent (144%) Interest accrued shall be simple and paid together
with the capital in accordance with the provisions of clause 5.
3.2 Interest will be calculated from the day of advance to the date of actual
payment. The balance outstanding from time to time will bear interest at
the above rate. Interest will be calculated monthly in arrears.
3.3 Penal interest shall also be charged at a rate of two percent (2%) per
day upon default.
4 CHARGES
4.1 The Loan Amount shall attract the following charges;
4.1.1 a processing fee amounting to five percent (5%) of the principal
amount;
4.1.2 a repayment Payment system charge of two percent (2%) of the
principal amount which shall be capped at twenty cedis (GH 20.00);
4.1.3 a disbursement fee of twenty cedis (GH 20.00)which shall only be
applicable if disbursement is made through mobile money.
4.2 The charges shall be paid together with the capital and interest where
applicable in accordance with the provisions of clause 6.
5 SECURITY
5.1 As security for the due repayment of all amounts owing by the Borrower
to the Lender in respect of the loan, the Borrower shall deliver to the

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Lender as a pre-condition to the advance of the loan a suretyship/

guarantee duly signed and in a form and containing terms and conditions
acceptable to the Lender as well as a duly executed assignment of the
borrowers specific assets or stock.
5.2 The surety agreement/ guarantee/ deed of assignment hereto attached
and marked as Annexure “A” shall form part of this Loan Agreement.
6 REPAYMENT
6.1 The Loan Amount together with any accrued interest and payable
charges shall be paid by way of weekly instalments by the Borrower in
the amount of 3000
…………………. every THURSDAY
……… to the lender without fail.
6.2 Notwithstanding the aforementioned, the Borrower will be entitled at
any time before the time scheduled for repayment to repay all of the
Loan Amount outstanding provided that any accrued but unpaid interest
and other charges thereon. The parties agree that interest for the
month(s) that have not elapsed at the time of the early repayment shall
not be added to the amount to be paid.
6.3 All payments of capital and interest to be made in terms of this
agreement will be made by electronic transfer (mobile money) to the
lender.
7 ACCELERATION
7.1 Any balance of the loan outstanding from time to time together with any
accrued but unpaid interest will automatically become due or payable
upon written notice to the Borrower, notwithstanding that it would not
otherwise be due, owing or payable, upon the occurrence of any one or
more of the following events-
7.1.1 if the Borrower fails or refuses to pay the Loan together with interest
and other charges in terms of clause 5.1 on the due date for payment
thereof and the Borrower persists in such failure or refusal for a
period of SEVEN (7) days after delivery by the Lender to the Borrower
of a written demand for payment thereof; provided that if the
Borrower fails or refuses to make any such payment timeously as
aforesaid on more than one occasion during the subsistence of this
loan agreement then the balance of the Loan Amount and charges in
terms of 4 shall immediately and without further notice become due,
owing and payable together with interest thereon;
7.1.2 if the Borrower or the Surety unreachable through a phone call
prompt by the lender for three(3) continuous days by reason of the
phone being switched off or the phone call being unanswered whilst
the borrower is in default of a scheduled payment;
7.1.3 if the borrower or the surety relocates from his place of
business/employment or moves from his place stated in the
agreement as his residential address without prior notice to the

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lender;
7.1.4 if any of the Borrower's assets are attached in execution and the
Borrower fails to apply for rescission of the relevant judgment within
seven (7) days of such attachment or, having so applied, fails
successfully to prosecute such application within seven (7) days of
the judgment; and
7.1.5 If the borrower is unable to work or ceases to operate for seven (7)
days continuously during the tenure of the loan.
7.1.6 The lender reserves the right to without notice or demand call in the
loan if the lender has a reasonable belief that the borrower has either
wilfully or negligently conducted himself in a manner that is
detrimental to the interest of the lender.
8 BREACH
8.1 If the Borrower commits any breach of this agreement and fails to
remedy such breach within forty-eight (48) hours of
written/verbal/electronic notice requiring the breach to be remedied,
then the Lender will be entitled, at its option –
8.1.1 to claim immediate specific performance of the Borrower’s
obligations under this agreement, with or without claiming
damages, whether or not such obligation has fallen due for
performance; or
8.2 The Lender's remedies in terms of this clause 8 are without prejudice to
any other remedies to which the Lender may be entitled in law.
8.3 The Borrower acknowledges and hereby agrees that in the event of a
breach of this Agreement, Blanket Recovery Company Limited acting
through the authority of the Lender will be entitled to post the borrower
in a public notice as a defaulter, visit the borrower’s place of work
and/or abode at a time of Blanket Recovery Company Limited’s
convenience and register the Borrower with the Credit Bureaus as a
defaulter and to take all necessary steps to have the Borrower
blacklisted without further notice to the borrower.
9 PROOF OF INDEBTEDNESS
A certificate signed by a Manager of the Lender, whose status it shall
not be necessary to prove, reflecting the amount owing by the Borrower
to the Lender under or in terms of this agreement, shall be prima facie
proof of the amount of the indebtedness of the Borrower hereunder for
the purposes of provisional sentence or summary judgement for the
amount reflected in such certificate.
10 RENUNCIATION OF BENEFITS
The Borrower hereby renounces the benefits of the legal exceptions non
numeratae pecuniae, non causa debiti, errore calculi, and revision of

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accounts with the meaning and effect whereof the Borrower

acknowledges to be fully acquainted.
11 APPLICABLE LAW AND JURISDICTION
11.1 This agreement will in all respects be governed by and construed under
the laws of Ghana.
11.2 Subject to the provisions of this agreement, the Parties hereto hereby
consent and submit to the non-exclusive jurisdiction of the District
Magistrate’s Court Ghana in any dispute arising from or in connection
with this agreement.
11.3 Notwithstanding the aforegoing, the Lender shall be entitled to proceed
against the Borrower for the purposes of enforcing its rights hereunder
and/or the recovery of any monies owing in any Court having jurisdiction
in terms of Borrowers and Lenders Act as amended, and the Borrower
consents to such jurisdiction, notwithstanding that such action may
otherwise be beyond the jurisdiction of such Court.
12 NOTICES AND DOMICILIUM
12.1 The Parties select as their respective domicilia citandi et executandi the
following physical addresses, and for the purposes of giving or sending
any notice provided for or required under this Agreement, the said
physical addresses as well as the following telephone numbers to which
messages may be sent -
12.1.1 The Lender:

CITIZEN KOFI HOUSE, OSU DANQUAH CIRCLE, RING ROAD E,

ACCRA

P.O.Box MP 3427

Accra – Ghana

12.1.2 The Borrower:

ELIZABETH MENSAH
………………………………………………..
…………………………………………….
0554045752
ADEISO
……………………………………………
provided that a Party may change its domicilium or its address for the
purposes of notices to any other physical address or telephone number
by written/verbal notice to the other Party to that effect. Such notice of
change of address or number shall be provided seven (7) days prior to
the said change.
12.2 All notices to be given in terms of this Agreement will be given in
writing, in English, and will -

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12.2.1 be delivered by hand or sent via phone call or phone text message;
12.2.2 if delivered by hand during business hours, be presumed to have
been received on the date of delivery. Any notice delivered after
business hours or on a day which is not a business day will be
presumed to have been received on the following business day;
and
12.2.3 if sent by telephone during business hours, be presumed to have
been received on the date of successful transmission of the notice.
Any notice sent after business hours or on a day which is not a
business day will be presumed to have been received on the
following business day.
12.3 Notwithstanding the above, any notice given in writing in English, and
actually received by the Party to whom the notice is addressed, will
be deemed to have been properly given and received, notwithstanding
that such notice has not been given in accordance with this clause.
12.4 The Parties record that whilst they may correspond via email during
the currency of this Agreement for operational reasons, no formal
notice required in terms of this Agreement, nor any amendment of or
variation to this Agreement may be given or concluded via email.****
13 GENERAL
13.1 This Agreement constitutes the whole of the agreement between the
Parties relating to the matters dealt with herein and, save to the extent
otherwise provided herein, no undertaking, representation, term or
condition relating to the subject matter of this Agreement not
incorporated in this Agreement shall be binding on either of the Parties.
13.2 No addition to or variation, deletion, or agreed cancellation of any and
all clauses or provisions of this Agreement will be of any force or effect
unless in writing and signed by the Parties.
13.3 No waiver of any of the terms and conditions of this Agreement will be
binding or effectual for any purpose unless in writing and signed by the
Party giving the same. Any such waiver will be effective only in the
specific instance and for the purpose given. Failure or delay on the part
of either Party in exercising any right, power or privilege hereunder will
not constitute or be deemed to be a waiver thereof, nor will any single
or partial exercise of any right, power or privilege preclude any other or
further exercise thereof or the exercise of any other right, power or
privilege.
13.4 All provisions and the various clauses of this Agreement are,
notwithstanding the manner in which they have been grouped together
or linked grammatically, severable from each other. Any provision or
clause of this Agreement which is or becomes unenforceable in any
jurisdiction, whether due to voidness, invalidity, illegality, unlawfulness

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or for any other reason whatever, shall, in such jurisdiction only and
only to the extent that it is so unenforceable, be treated as pro non
scripto and the remaining provisions and clauses of this Agreement
shall remain of full force and effect. The Parties declare that it is their
intention that this Agreement would be executed without such
unenforceable provision if they were aware of such unenforceability at
the time of execution hereof.
13.5 Neither this Agreement nor any part, share or interest herein nor any
rights or obligations hereunder unless agreed herein may be ceded,
delegated or assigned by either Party without the prior written consent
of the other Party.
13.6 Any consent or approval required to be given by either Party in terms of
this Agreement will, unless specifically otherwise stated, not be
unreasonably withheld.
13.7 This Agreement may be executed in counterparts, each of which shall
be deemed an original, and all of which together shall constitute one and
the same Agreement as at the date of signature of the Party last signing
one of the counterparts.
14 COSTS
14.1 Save as may be otherwise provided herein, each party will bear and pay
its own costs of or incidental to the drafting and preparation of this
agreement.
14.2 Should the Lender incur any costs in the securing registration and
collection of the amount repayable in terms of this agreement, such
costs shall be borne by the Borrower.
14.3 Should the Lender be required to institute proceedings or to consult with
attorneys to enforce its rights under this Agreement the Lender will be
entitled to recover its costs from the borrower.

SIGNED by the within-named BORROWER] ...............................................................

THUMBPRINT/SIGNATURE
after the contents of this Agreement had been ]
read and explained to him/her in …………......
WILLIAM &RONNY
by ……………………………………………..... ] …………………………………………
S/E
a ……………………………………………….. INTERPRETOR’S SIGNATURE
and he/she confirmed having understood and ]
accepted everything contained herein before
making his sign/mark
[Please complete if applicable]

In the presence of:

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Name:
KWABENA ABOTSI
Address/Phone Numbers:
0509270567
Signature:

SIGNED by the LENDER ] ………………………………..

SIGNATURE

In the presence of:

Name: SETH AMPENE
Address/Phone number: 0539400154
Signature:

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ASSIGNMENT OF
INTEREST/OWNERSHIP/POSSESSION/
TITLE

Between

BILLS MICRO-CREDIT LIMITED

and

ELIZABETH MENSAH
……………………..

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 TABLE OF CONTENTS
1 INTERPRETATION ......................................................................................................12
2 RECITALS ....................................................................................................................14
3 ASSIGNMENT ..............................................................................................................14
4 WARRANTY .................................................................................................................14
5 GENERAL ....................................................................................................................14
6 COSTS ..........................................................................................................................15
7 SIGNATURE .................................................................................................................16

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WHEREBY THE PARTIES AGREE AS FOLLOWS:

15 INTERPRETATION

15.1 In this Agreement -

15.1.1 clause headings are for convenience only and are not to be used in its interpretation;

15.1.2 an expression which denotes -

15.1.2.1 any gender includes the other genders;

15.1.2.2 a natural person includes a juristic person and vice versa; and

15.1.2.3 the singular includes the plural and vice versa.

15.2 In this Agreement, unless the context indicates a contrary intention, the following words and
expressions bear the meanings assigned to them and cognate expressions bear
corresponding meanings –

15.2.1 “Agreement” shall refer to this Assignment Agreement together with its annexures as
amended, varied, novated or supplemented from time to time;

15.2.2 “BMCL” means BILLS MICRO-CREDIT LIMITED.

ELIZABETH
MENSAH
15.2.3 "Contract" means the Loan Agreement entered into between BMCL and ……………. in
3,000
terms of which a loan amount in the sum of ……………..was extended to him over three
(3) months duration;

15.2.4 "Effective Date" means the date on which the Party signing last in time signed the
Contract;
ELIZABETH MENSAH
15.2.5 "Assignor" means …………………… , Identity No. ……………….. ;
GHA-001495020-7
15.2.6 "Assignee" means BMCL ;

15.3 Any substantive provision, conferring rights or imposing obligations on a Party and appearing
in any of the definitions in this clause 15 or elsewhere in this Agreement, shall be given effect
to as if it were a substantive provision in the body of the Agreement.

15.4 Words and expressions defined in any clause shall, unless the application of any such word
or expression is specifically limited to that clause, bear the meaning assigned to such word
or expression throughout this Agreement.

15.5 Reference to "days" shall be construed as calendar days unless qualified by the word
"business", in which instance a "business day" will be any day other than a Saturday, Sunday

12
 or public holiday as gazetted by the government of the Republic of Ghana from time to time.
Any reference to "business hours" shall be construed as being the hours between 08h30 and
17h30 on any business day. Any reference to time shall be based upon Greenwich Mean
Time (GMT).

15.6 Unless specifically otherwise provided, any number of days prescribed shall be determined
by (including/excluding) the first and (including/excluding) the last day or, where the last day
falls on a day that is not a business day, the next succeeding business day.

15.7 No provision herein shall be construed against or interpreted to the disadvantage of a Party
by reason of such Party having or being deemed to have structured, drafted or introduced
such provision.

15.8 The use of any expression in this Agreement covering a process available under Ghanaian
law, such as winding-up, shall, if either of the Parties to this Agreement is subject to the law
of any other jurisdiction, be construed as including any equivalent or analogous proceedings
under the law of such other jurisdiction.

15.9 The words "include" and "including" mean "include without limitation" and "including without
limitation". The use of the words "include" and "including" followed by a specific example or
examples shall not be construed as limiting the meaning of the general wording preceding it.

15.10 Whenever any person is required to act "as an expert and not as an arbitrator" in terms of
this Agreement, then –

15.10.1 the determination of the expert shall (in the absence of manifest error) be final and
binding;

15.10.2 subject to any express provision to the contrary, the expert shall determine the liability
for his or its charges, which shall be paid accordingly;

15.10.3 the expert shall be entitled to determine such methods and processes as he or it may,
in his or its sole discretion, deem appropriate in the circumstances provided that the
expert may not adopt any process which is manifestly biased, unfair or unreasonable;

15.10.4 the expert shall consult with the relevant Parties (provided that the extent of the expert's
consultation shall be in his or its sole discretion) prior to rendering a determination; and

15.10.5 having regard to the sensitivity of any confidential information, the expert shall be
entitled to take advice from any person considered by him or it to have expert
knowledge with reference to the matter in question.

15.11 Any reference in this Agreement to "this Agreement" or any other agreement or document
shall be construed as a reference to this Agreement or, as the case may be, such other

13
 agreement or document, This Agreement incorporates the annexes which annexes shall
have the same force and effect as if set out in the body of this Agreement. In this Agreement
the words "clause" or "clauses" and "annexe" or "annexes" refer to clauses of and annexes
to this Agreement.

16 RECITALS
ELIZABETH MENSAH
16.1
19/02/25
The Contract was entered into between BMCL and ………………… on …………………….

16.2 In terms of the Contract BMCL forwarded a loan amount in the sum of ………………… 3,000
ELIZABETH MENSAH
“Loan” to __________________which loan amount, together with interest thereon at the
12 19/05/25
rate of % per annum is to be paid on or before ……………… by way of weekly payments
319
in the amount of …………………… . The Parties hereby agree to the assignment on the
terms set out in this Agreement as security for the repayment of the Loan amount together
with the accrued interest.

17 ASSIGNMENT

The Parties record that -

17.1 The Assignor hereby assigns, transfers and makes over to the Assignee the Assignor’s
rights, title or any part or interest in and to the items/asset(s) listed in Annexure “A1” hereto
which is now vested or will become vested in the Assignor during the continuance of the
Assignment for no consideration;

17.2 The Assignor accepted the aforesaid cessions, assignments and transfers; and

17.3 The Assignor consented to the aforesaid cessions, assignments and transfers.

18 WARRANTY

The Assignor hereby warrants that, at the date of this deed of assignment, the Assignor is
the beneficial owner of the assigned right free from any encumbrance, and that the Assignor
has not assigned, ceded, transferred or made over the assigned right to any other party, and
has full power to assign, transfer and make over the same to the Assignee.

19 GENERAL

19.1 This Agreement constitutes the whole of the agreement between the Parties relating to the
matters dealt with herein and, save to the extent otherwise provided herein, no undertaking,
representation, term or condition relating to the subject matter of this Agreement not

14
 incorporated in this Agreement shall be binding on any of the Parties.

19.2 No addition to or variation, deletion, or agreed cancellation of any and all clauses or
provisions of this Agreement will be of any force or effect unless in writing and signed by the
Parties.

19.3 No waiver of any of the terms and conditions of this Agreement will be binding and effectual
for any purpose unless in writing and signed by the Party giving the same. Any such waiver
will be effective only in the specific instance and for the purpose given. Failure or delay on
the part of any Party in exercising any right, power or privilege hereunder will not constitute
or be deemed to be a waiver thereof, nor will any single or partial exercise of any right, power
or privilege preclude any other or further exercise thereof or the exercise of any other right,
power or privilege.

19.4 All provisions and the various clauses of this Agreement are, notwithstanding the manner in
which they have been grouped together or linked grammatically, severable from each other.
Any provision or clause of this Agreement which is or becomes unenforceable in any
jurisdiction, whether due to voidness, invalidity, illegality, unlawfulness or for any other reason
whatever, shall, in such jurisdiction only and only to the extent that it is so unenforceable, be
treated as pro non scripto and the remaining provisions and clauses of this Agreement shall
remain of full force and effect. The Parties declare that it is their intention that this Agreement
would be executed without such unenforceable provision if they were aware of such
unenforceability at the time of execution hereof.

19.5 Neither this Agreement nor any part, share or interest herein nor any rights or obligations
hereunder may be ceded, delegated or assigned by any Party without the prior written
consent of the other Parties, save as otherwise provided herein.

19.6 Any consent or approval required to be given by any Party in terms of this Agreement will,
unless specifically otherwise stated, not be unreasonably withheld.

19.7 This Agreement may be executed in counterparts, each of which shall be deemed an original,
and all of which together shall constitute one and the same Agreement as at the date of
signature of the Party last signing one of the counterparts.

20 COSTS

The Assignor will bear and pay its own legal costs and expenses of and incidental to the
negotiation, drafting, preparation and implementation of this Agreement.

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 21 SIGNATURE

Signed on behalf of the Parties, each signatory hereto warranting that he/she has due
authority to do so.

ADEISO 20/02/25
SIGNED at _________________________ on _________________________ 2024.

SIGNED by the within-named ASSIGNOR] ...............................................................

THUMBPRINT/SIGNATURE
after the contents of this Agreement had been ]
read and explained to him/her in …………......
WILLIAM & RONNY
by ……………………………………………..... ] …………………………………………
a ……………………………………………….. INTERPRETOR’S SIGNATURE
and he/she confirmed having understood and ]
accepted everything contained herein before
making his sign/mark
[Please complete if applicable]

In the presence of:

KWABENA ABOTSI
Name:

Address/Phone Numbers: 0509270567

Signature:

SIGNED by the ASSIGNEE ] ………………………………..

SIGNATURE

In the presence of:

Name:
SETH
AMPENE
Address/Phone number:

Signature: 0539400154

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 ANNEXURE A1

THE PARTIES HERETO AGREE THAT INTEREST IN THE UNDERLISTED WHICH THE
ASSIGNOR HEREIN UNDERTAKES TO BE FULLY POSSESSED OF AS ITS BENEFICIAL
OWNER SHALL PASS TO THE ASSIGNEE HEREIN UPON DEFAULT AND WITHOUT RESORT
TO COURT ACTION.

DESCRIPTION OF ASSIGNED ASSET:

LIST/DESCRIPTION OF ASSIGNED ITEMS/ASSETS

ITEM SERIAL NOS./ANY OTHER QUANTITY UNIT COST ESTIMATED
INFORMATION VALUE

Good Condition and Are All Insured

………………………………………………………………………………………………………

………………………………………………………………………………………………………

………………………………………………………………………………………………………

………………………………………………………………………………………………………

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………………………………………………………………………………………………………

………………………………………………………………………………………………………

SIGNED by the within-named BORROWER] ...............................................................

THUMBPRINT/SIGNATURE
after the contents of this Agreement had been ]
read and explained to him/her in …………......
WILLIAM & RONNY
by ……………………………………………..... ] …………………………………………
a ……………………………………………….. INTERPRETOR’S SIGNATURE
and he/she confirmed having understood and ]
accepted everything contained herein before
making his sign/mark
[Please complete if applicable]

In the presence of:

Name:
PATRICK ASEIDU
Address/Phone Numbers:

Signature:

SIGNED by the LENDER ] ………………………………..

SIGNATURE

In the presence of:

Name:

Address/Phone number:
SETH AMPENE
Signature:

0539400154

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 SURETYSHIP AGREEMENT
I the undersigned
SETH AMPENE
………………………………………………………

0539400154
……………………………………………………..

(Hereinafter referred to as the “Surety”)

do hereby bind myself as surety and co-principal borrower in solidum, jointly and severally with
ELIZABETH MENSAH
…………………………………………………………………
0554045752
………………………………………………………………..

ADEISO
………………………………………………………………..

(Hereinafter referred to as the “borrower”)

20/02/25
Who has entered into a loan agreement with the lender herein dated ………. and the full details of which loan
I am aware.

to and if favour of

BILLS MICRO-CREDIT LIMITED of CITIZEN KOFI HOUSE, OSU DANQUAH CIRCLE, RING ROAD E,
ACCRA
P.O.Box MP 3427, Accra – Ghana
(Hereinafter referred to as the “lender”)

or its successors in title, order or assigns:

1. For the due and punctual payment of all sums of money and for the performance of all obligations of
whatsoever nature due or to become due by the borrower to the lender arising out of any cause
whatsoever and for which the borrower may be indebted to the lender from time to time, now or at
any time hereafter.
2. The Surety hereby agrees and consents to the jurisdiction of any Court in Ghana in regard to any
proceedings which may be brought against the Surety hereafter arising out of its obligations under
this suretyship and to the payment of all costs on the scale as between attorney and own client arising
from any such proceedings.
3. All acknowledgments of indebtedness and admissions by the Borrower shall be binding on the Surety.
4. This suretyship shall be a continuing one, and the Surety’s obligations hereunder shall remain of full
force and effect notwithstanding any fluctuation in the indebtedness of the Borrower to the Lender
or even the temporary extinction thereof. This suretyship is irrevocable by the Surety and shall
remain of full force and effect until the Lender in writing releases the Surety here from.
5. This suretyship shall be in addition to and without prejudice to any other suretyship or securities now
held or hereafter held by the Lender for or on behalf of the Borrower.

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6. A balance certificate, as to the amount of the Surety’s indebtedness hereunder, or that of the
Borrower to the Lender at the date of the certificate, duly signed by an authorised employee of the
Lender, shall be:
6.1. prima facie evidence of the amount of indebtedness shown in the certificate;
6.2. binding on the Surety in any proceedings instituted by the Lender in any competent court for
the purpose of obtaining provisional sentence of judgment against the Surety; and
6.3. binding on the Surety but not limiting the Lender to the use of any specific method in proving
it.
7. The Lender is irrevocably authorised to apply any monies received by it from the Surety in terms of
this suretyship against the indebtedness to it of the Borrower in such manner as the Lender in its
discretion deems fit.
8. We choose as our domicilium citandi et executandi for all purposes hereunder, whether in respect of
court processes, notices or other documents or communications of whatsoever nature (including the
exercise of any option) the following address:
8.1. Surety

Lender

ADEISO 20
SIGNED AT ____________________________________ ON THIS THE _____ DAY OF_____________ 2024 02
BY SURETY HEREIN

_______________________________

SURETY

after the contents of this Agreement had been ]

TWI
read and explained to him/her in …………......
WILLIAM&RONNY
by ……………………………………………..... ] …………………………………………
a ……………………………………………….. INTERPRETOR’S SIGNATURE
S/E
and he/she confirmed having understood and ]
accepted everything contained herein before
making his sign/mark
[Please complete if applicable]
ELIZABETH MENSAH
In the presence of:
Name:

Address/Phone Numbers:
0554045752
Signature:

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