Hello everyone, I would like to ask the community for advice on how to create a Crowdfactoring contract. Here are the terms and conditions of a standard contract
Article 1 The Lender undertakes, within the framework of the Project, to make available to the Borrower a loan in the amount of €50.00, subject to the condition precedent that the Project has been financed in its entirety, under the conditions set out in Article 1 of the Contract.
Article 2 The principal amount of the loan shall be repaid on the last due date of the amortisation table attached as an appendix to the contract. On each date on which the Borrower is required to pay an amount under the Contract, the Borrower shall make that amount available to the Lender on the payment account opened with Bienprêter’s partner payment service provider.
Article 3 The contractual interest rate applicable to the loan is 14.9% per annum.
Article 4 In accordance with the provisions of Article 6 of the Agreement, the amount of remuneration due to Bienprêter as a crowdfunding service provider in respect of the loan is 0.5% of the loan amount. These fees are payable by the Borrower.
Article 5 Finally, in accordance with the provisions of Article 6 of the Agreement, the total amount of interest likely to be generated by the loan is €8.69 in the absence of early repayments and provided that interest is paid on the due date.