Said Loan Agreement

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“Insurance institutions” that collect premiums for the provision of life or claims/accident insurance have established their own types of credit agreements. Credit agreements and documentation standards for “banks” and “insurances” were developed from their individual cultures and were governed by guidelines that in one way or another addressed the debts of each organization (in the case of “banks”, the liquidity needs of their depositors; in the case of insurance organizations, liquidity must be linked to their expected “claims”). 3. The borrower hereby accepts and undertakes to return the loan of article 1.00.000 / – (only Rupien One Lakh) within the aforementioned period of one year and gives the personal guarantee. Before entering into a commercial credit agreement, the borrower first makes statements about its nature, solvency, cash flow and any collateral that it may mortgage as collateral for a loan. These presentations are taken into account and the lender then determines the conditions (conditions), if any, he is ready to advance the money…