The No Interest Loan Agreement is designed for situations where parties wish to establish a formal lending arrangement without charging interest, while ensuring legal enforceability under Indonesian law. This document is commonly used in various contexts including family loans, charitable lending, social impact financing, and situations where religious or ethical considerations preclude interest charges. The agreement includes comprehensive provisions covering loan amount, repayment schedule, borrower obligations, and default remedies, all structured in compliance with Indonesian Civil Code (KUHPerdata) and relevant banking regulations. It's particularly valuable for organizations and individuals seeking to provide financial assistance while maintaining clear legal documentation of the lending terms and conditions.
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1. Parties: Identification of the Lender and Borrower with complete legal names and addresses
2. Background: Context of the loan arrangement and confirmation of interest-free nature
3. Definitions: Key terms used throughout the agreement including 'Principal Amount', 'Repayment Schedule', 'Event of Default'
4. Loan Amount and Purpose: Specification of the principal amount and intended use of the loan funds
5. Interest Free Declaration: Explicit statement that no interest will be charged on the loan
6. Disbursement: Terms and conditions for the release of loan funds
7. Repayment Terms: Schedule and method of repayment of the principal amount
8. Borrower's Representations and Warranties: Statements of fact by the borrower regarding their capacity and ability to repay
9. Borrower's Obligations: Ongoing obligations of the borrower during the loan term
10. Events of Default: Circumstances that constitute default and consequences thereof
11. Remedies: Lender's rights and remedies in case of default
12. Notices: Method and addresses for formal communications between parties
13. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and jurisdiction for disputes
14. General Provisions: Standard boilerplate clauses including amendments, waiver, and severability
1. Security: Details of any collateral or security provided - include if loan is secured
2. Guarantor Provisions: Terms relating to guarantor obligations - include if there is a guarantor
3. Early Repayment: Terms for early repayment of the loan - include if early repayment is permitted
4. Assignment: Rights to assign the agreement - include if assignment is to be permitted
5. Insurance: Requirements for insurance of any secured assets - include if security is provided
6. Force Majeure: Provisions for unforeseen circumstances - include if extended repayment period
7. Charitable Purpose: Statement of charitable intent - include if loan is for charitable purposes
1. Repayment Schedule: Detailed schedule of repayment installments with dates and amounts
2. Security Details: Description of any security or collateral provided (if applicable)
3. Condition Precedents: List of conditions to be met before loan disbursement
4. Form of Disbursement Request: Template for requesting loan disbursement
5. Form of Compliance Certificate: Template for periodic compliance certification by borrower
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Islamic Finance
Microfinance
Non-Profit & Charity
Small Business
Real Estate
Education
Healthcare
Agriculture
Family Business
Social Enterprise
Relevant Teams
Legal
Finance
Compliance
Risk Management
Treasury
Corporate Secretariat
Credit Administration
Operations
Business Development
Social Impact
Islamic Banking
Relevant Roles
Legal Counsel
Finance Manager
Credit Officer
Compliance Officer
Risk Manager
Corporate Secretary
Financial Controller
Treasury Manager
Loan Officer
Business Development Manager
Social Impact Officer
Microfinance Coordinator
Islamic Finance Specialist
Director of Operations
Chief Financial Officer
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