ACKNOWLEDGEMENT OF DEBT
Entered into between:
1 Amount of loan
The Lender hereby agrees to lend the sum of ________________to the Borrower on the terms set
2 Payment of loan to Borrower
It is agreed between the parties that payment of the loan amount will not be made to the Borrower
before the expiry of three business days after the conclusion of the contract. During the said period of
three business days the Borrower may terminate the contract at will. It is further agreed that the Lender
shall not be entitled to interest for the period preceding the date upon which the money is paid to the
3 Period of loan
This loan shall endure for a period of ______ months calculated from (date).
(In order to claim exemption from the Usury Act 73 of 1968 this number may not exceed 36 months).
The Borrower shall be obliged to pay interest