1. TERM. The total amount of the Borrowed Money, including principal and interest, shall be due and payable by the number of monthly repayments as specified in the Repayment Schedule attached hereto (hereinafter known as the “Repayment Schedule”). 

2. PURPOSE. The Borrower intends to procure and/or obtain products and/or services from a service provider and the Borrower has applied for a loan from the Lender to assist to pay or settle the fees due and payable to the said service provider. 

3. DISBURSAL. The Lender shall release and pay the Borrowed Money or any part thereof directly to the service provider upon the Lender’s receipt of the invoice issued by the said service provider. 

4. PAYMENTS. The Borrower agrees to repay the Borrowed Money to the Lender commencing on the 28th day of each month as specified in the Repayment Schedule and thereafter on the same day of each and every succeeding month. All payments made by the Borrower shall be first applied to any accrued interest and second to the principal balance. 

5. LATE PAYMENT. If the Borrower is late by more than 7 days for any payment due, it shall be considered late. If a payment is late, the Borrower shall be charged late payment interest at the rate of 1.25% per month. 

6. ACCELERATION. The Lender shall have the right to declare the Borrowed Money to be immediately due and payable on demand, including interest owed, if any of the events are to occur:

1. Default. If the Borrower should default on any of the conditions of this Agreement; or
2. Fraud. If the Borrower committed any fraud to obtain this loan.

1. any person participating in the provision of services to the Lender (including, but not limited to, debt collection, legal , accounting, auditing, printing or mailing [of cheque book, passbook, stationery or other documents], management, repossession, insurance, delivery, electronic and investigation services) whether in Brunei Darussalam or outside Brunei Darussalam, under or in connection with this Agreement or the enforcement thereof;
2. the police or other public officers conducting an investigation in connection with any offence or suspected offence;
3. the Brunei Association of Banks, other banks, finance companies, financial institutions or insurance credit or charge card companies;
4. the Ministry of Finance and Economy or any other person, entity or authority, having jurisdiction over the Borrower, any court of law, in Brunei Darussalam or elsewhere for any purpose whatsoever;
5. any insurer, guarantor or provider of security in relation to the Borrower or any account(s), or the auditor of the Borrower or any member, partner, director or shareholder of the Borrower;
6. any company body or authority or party to whom the Lender is associated with (including the parent or holding company, subsidiaries or associated or related companies, Baiduri Bank Berhad), the Lender’s head office, branches, representative offices in Brunei Darussalam or overseas, for any purpose or purposes whatsoever;
7. any association or body of which the Lender is a member of.

8. SEVERABILITY. If any provision of this Agreement or the application thereof shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this Agreement nor the application of the provision to other persons, entities, or circumstances shall be affected, thereby, but instead shall be enforced to the maximum extent permitted by law. 

9. COSTS AND EXPENSES: The Borrower shall pay to the Lender all costs of collection, including reasonable attorney's fees, the Lender incurs in enforcing this Agreement. 3 HP97 (1,03/06/2023) 

10. GOVERNING LAW. This Agreement shall be construed and governed by the laws of Brunei Darussalam (“Governing Law”).