Bank of Communications foreign exchange commercial housing mortgage loan contract

Lender: Branch
Legal address: Telephone
Legal representative: Telephone
Borrower phone
address:
My valid ID number:

If the borrower purchases the loan, it shall apply for a loan to the lender. According to the General Principles of the Civil Law of the People's Republic of China, the Economic Contract Law of the People's Republic of China, and the relevant business measures of the Bank of Communications, the following terms shall be agreed upon and agreed upon by both parties.

First loan currency, amount and term

1.1 Loan currency:

1.2 The maximum amount of the loan is Yuan.

1.3 Term of the loan:

The loan period is one year. From the day of the 19th to the end of the 19th. The same amount is returned in stages.

The second calculation of interest rates and interest

2.1 The loan interest rate is “on the London Interbank Offered Rate” plus a percentage point. The LIBOR of each interest-bearing date is the LIBOR of the loan interest rate, but the LIBOR of the first interest period of each loan is the LIBOR of the loan issue date. LIBOR uses a monthly float.

2.2 The interest on the loan is calculated based on the actual number of days the loan is issued, with a period of 360 days.

2.3 Ways of settlement:

Article 3 Loan Conditions

3.1 The borrower must provide the following information to the lender:

a. "Real Estate Mortgage Application" and "Loan Applicant Information";
b. Signing the "Pre-purchase House Contract" or "Purchase Contract" with the real estate agent;
c. The voucher for the purchase prepayment issued by the real estate agent.

3.2 The borrower opens a special purchaser to the designated bank of the lender, and the relevant purchase cost will be settled through the account in the future.

Article 4 withdrawal

The borrower irrevocably authorizes the lender. According to the “pre-purchase contract”, when the lender receives the notice of payment from the real estate agent, it actively transfers the loan to the account opened by the real estate agent at the lender and debits the borrower. account. Issue a payment notice to the borrower.

Article 5 repayment

5.1 The Borrower shall repay on time in accordance with the provisions of Section 1.3 of this Agreement.

5.2 Within 15 days before each repayment date, the borrower shall deposit the loan and the interest rate paid in the current period into the purchaser's account. On the due date of repayment, the lender will take the initiative to deduct the amount from the purchaser's account, without prior notice to the borrower.

Article 6 Early repayment

6.1 If the borrower repays part or all of the loan in advance, the borrower must be notified in writing 30 days in advance.

6.2 Advance repayment is limited to the reverse order of the repayment period, and cannot offset the loan that is about to expire or the repayment of the next period.

6.3 If the borrower repays in advance, the lender shall pay 0.5% to 1% of the compensation for the early repayment amount.

a. If the borrower repays the loan in advance within one year of the loan, the lender shall pay the lender a one percent compensation for the amount of the early repayment;
b. If the borrower repays the loan in advance after obtaining more than one year, the borrower shall pay 0.5% of the compensation for the early repayment amount.

Article 7 Fees and other expenses

7.1 Fee: After the loan contract is signed, the borrower shall pay the lender a % handling fee for the loan amount within the day after the signing of the contract.

7.2 The expenses of deed tax, insurance, legal procedures, mortgage registration, and disposal of collateral involved in the process of purchasing houses and loans shall be paid by the borrower.

7.3 The borrower shall be liable for the loss suffered by the borrower and all related expenses incurred as a result of the default by the borrower.

Article 8 Insurance

The borrower must go to the insurance company branch to complete the insurance formalities of the collateral according to the time specified by the lender and the specified insurance. The insured amount shall not be less than the total value of the collateral. The insurance period shall be longer than the loan term of 1-3 months. A single original must state that the lender is the first beneficiary and send the original insurance policy to the lender.

Article 9 Guarantee of the Borrower

9.1 Guarantee to repay the principal and interest on time and in accordance with the contract.

9.2 All information provided to the lender is true and reliable, without any disguise or concealment of facts.

9.3 Damage to the mortgaged property, for any reason, shall be liable for the loss of the lender.

Article 10 Liability of the Lender

10.1 Provide loans to the borrower on time according to the relevant provisions of the contract. The lender is transferred to the account of the real estate agent at the lender in the name of the buyer.

10.2 After the borrower has paid the total amount of the loan, interest and other payables according to the contract, the borrower will return the mortgaged Real Estate Sale Contract or the House Property Certificate to the borrower.

Article 11 Default and Treatment

11.1 The following matters constitute a breach of contract:

The borrower fails or fails to pay the principal amount due and the interest payable on the date of payment and repayment, resulting in overdue and interest in the loan;
The borrower’s ability to execute the contract or the occurrence of certain events makes the execution of this contract illegal or impossible;
The borrower violates the other terms of this contract or the attached file.

11.2 Disposal of default:

When the borrower acts in the above 11.1, the lender will impose a 20% penalty interest on the basis of the original interest rate from the date of default by the borrower;
When the borrower acts in the above 11.1 and/or 11.1, the borrower shall not correct the borrower within 60 days from the date of default after written notice from the lender; or the borrower has 11.1 acts, the lender has The right to declare the full loan due, at the same time, requires the borrower to repay the loan amount and interest already paid.

Article 12: Applicable law

This contract applies to the laws of the People's Republic of China and is interpreted accordingly.

Article 13: The contract takes effect

It must be signed by the borrower and the lender and will be effective after notarization by the notary office. Any modification or supplement to this contract shall be signed by both parties in writing.

Bank of Communications foreign exchange commercial housing mortgage loan contract

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