OPEN FOR BUSINESS - Sample loan contract and terms

This agreement is being uploaded to the HIVE blockchain as proof of evidence.

LOAN AGREEMENT dated on the day of 13th Feb 2022

BETWEEN:
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[@bearbonds] (“the Lender”)

and

[@username] (“the Borrower”)
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Loan and repayment details:

Loan Amount	Term	Interest %	Collateral	Repayment Due	Repayment Date
$100 HBD	3 months	2.5% (10% annual)	SPI tokens	102.5 B tokens	12th May 2022

Loans

Loans will be issued when the borrower has provided the required collateral and signed this agreement in the comments below.
All loans are issued as Bearbond (B) tokens to the borrowers hive-engine wallet. Bearbonds are pegged to 1 HBD and redeemable by transferring to @bearbonds
Bearbonds will provide loans from a minimum of 25 HBD to a maximum of 200 HBD during this trial period.
Each user/person can have a maximum of 2 opens loans during this trial period provided they use 2 different forms of collateral. Eg, LEO and HIVE, OK. LEO and LEO, not OK.

Terms

Loan length terms are measured in calendar months ranging from 1-6 months during this trial period.

Interest rates

Interest rates charged are shown as 2 figures
. 1/ Interest charged for the loan amount
. 2/ (Interest shown as an annual percentage)
Interest rates charged are dependent on the length of your loan term
. 1-2 months = 12% annualized
. 3 months = 10% annualized
. 4-5 months = 9% annualized
. 6 months = 8% annualized

Collateral

Bearbonds will currently accept 3 forms of collateral
. HIVE
. LEO
. SPI
All loans are based on a 200% LTV (loan to value) valuation
Provided collateral is subject to liquidation if its value based in HBD falls to 50% of the loan amount secured against it.
Borrowers can top up collateral to avoid liquidation but no notifications will be provided by bearbonds.
If a borrowers collateral is liquidated, they will be informed and the loan will be marked as completed.
Collateral will be held in the @bhold account.
. Any airdrops obtained during a loan term to a borrowers collateral depending on conditions will be forwarded to the borrower 6-24 hours after issue.
. Bearsbonds at its discretion can stake are power-up collateral subject to the loan term.
. All collateral held from borrowers is backed and guaranteed by @spinvest during this trial period.

Repayment Amount

The repayment amount shown above "Loan and repayment details:" is the total of the loan amount plus total interest for loan term.
Repayments must be made in 1 transaction in the form of bearbonds (B) tokens
Send all loan repayments to @bhold

Repayment date

The borrower promises to repay the loan amount plus interest by the date shown in the "Loan and repayment details:" section above.
Early repayment is accepted but no discounts are offered and no penalty is enforced.
Upon receiving repayment, Bearbonds will release borrowers collateral and loan status will be updated to complete.
Failing to meet this date will result in
. The borrowers collateral being liquidated to recoup the loan amount plus interest.
. A 50% penalty on outstanding collateral will be enforced due to time-wasting
. The remaining 50% of the outstanding collateral after liquidation will be returned to the borrower
. Loan status will be updated to defaulted and the borrower will be blocked from further loans.
Grace periods may be granted with good reason if contact is made at least 48 hours in advance of the final repayment date.

Amendments

Bearbonds can change and amend any of the above if both borrower and lender agree.
Amendments are likely during the transition from trial and full launch service
Any amendments made will only affect new loans and not loans already signed for.

Borrower copy/paste and complete in the comments below

^^^^^^^^^^^^^^^^^^^^^^^^^^^COPY/PASTE BELOW THIS LINE^^^^^^^^^^^^^^^^^^^^^^^^^^^
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I agree to the above terms above and will make repayment of the repayment amount by the repayment date.

Collateral secured against loan -
Repayment amount - $
Repayment date - dd/mm/yy

Signed - borrowerA001

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^^^^^^^^^^^^^^^^^^^^^^^^^^^COPY/PASTE ABOVE THIS LINE^^^^^^^^^^^^^^^^^^^^^^^^^^^