Drafting of Loan Contract
Budget: $30 – $250 USD
I would like to have a loan contract drafted between two parties. The principal and the duration of the loan will be $5,760,000 and 30 years respectively. The principal is loaned at an interest rate of 1.5% per annum that compounds monthly and repaid annually at a value of $240,193.95. The loan will be funded on July 15, 2021, and the repayments will be made each subsequent year on July 14, 2022, through to July 14, 2051. The lender is American, and the Borrower is Jamaican. The loan will be governed by the laws of the USA.