A van loan contract is an is a contract which is signed by the lender and the borrower in order to take a loan for buying a van. This contract mentions the details about the van and the terms and condition of the loan agreed by both the parties.
Sample Van Loan Contract:
Contract Number: 567/ HH
Effective date of the contract: October 13th, 2010
This loan contract is committed between Mr. Morris Menu, hereinafter called as the lender party, located at: Office no: 34. K, Pink Apartments, Sun Rise Road, Toronto, Canada AND Ms. Emma Timberlake, hereinafter referred as the borrower, residing at: 56/ K, Villa Apartments, Toronto, Canada.
This agreement is starting on October 21st, 2010 and is terminating on October 21st, 2012.
Underneath are the official term & conditions valid for both the parties:
The borrower is allowed to take the loan of $ 234560 at the rate of interest of 6% (fixed). The borrower will pay an instalment of $2360 on 2nd of each month. If the instalment will be delayed, the borrower party will be charged with $ 50 extra.
The mode of payment will be online submission only.
The lender will hand over the loan amount to the borrower on the date of agreement. The concerned person in accounts will be responsible to maintain a sheet of loan transaction.
The cancellation of the loan contract can take place, if any party is disagreed with the contract clauses.
Therefore, in order to accept the above mentioned promises, the attorney is requesting to both the parties to sign the contract:
Signature of the Lender Party:
Signature of the Borrower party: