This agreement is being uploaded to the HIVE blockchain as proof of evidence.
LOAN AGREEMENT dated on the day of 13th Feb 2022
BETWEEN:
.
[@bearbonds] (“the Lender”)
and
[@username] (“the Borrower”)
.
.
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^^^^^^^^^^^^^^^^^^^^^^^^^^^
.
.
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
.
.
^^^^^^^^^^^^^^^^^^^^^^^^^^^COPY/PASTE ABOVE THIS LINE^^^^^^^^^^^^^^^^^^^^^^^^^^^
Get in contact
on HIVE - Use the comments below
on Discord - silverstackeruk#3236
BearBonds Loaning and Repayment process
How bearbonds (B) tokens interact with your HIVE and hive-engine wallet
3 outcomes for each loan
Current loan terms and interest rates
