Once there is a primary understanding between the Borrower and Lender, the legal documentation process needs to be completed. The legal documentation has been standardized by AntworksMoney and shall have to be complied fully to complete the transaction. Unless the documentation is completed in all respect the lender shall not transfer and the borrower shall not receive the loan.
The Loan Documentation consists of the Following Documents
1. A tripartite Loan Agreement where AntworksMoney will be the confirming party.
2. An IOU
3. Undertakings by the borrower
4. Indemnity by the borrower
There would be general and specific instructions to complete the documentations.
1. The Entire Set of Loan Documentation is available on www.antworksmoney.com.
2. For every proposed transaction there will be generated a Unique Loan Number (“ULN”) for that transaction which shall be used for future transactions.
3. Simultaneous with the generation of the ULN, the Executable Loan Documentation (“ELD”) containing the ULN specific information (“the ELD”), will be generated at the portal accessible by the Borrower
4. Thereupon the Borrower shall download the ELD and execute it at his end and physically courier the ELD to the Lender along with such number of PDCs as may be decided by Antworks Money from time to time.
5. Immediately upon receipt of the ELD, the borrower shall complete his part of execution and send the executed ELD physically trough courier to Antworks and pay necessary fee to Antworks.
6. Once Antworks receives the money it shall put its signature on the original document and give a “go ahead” to the Lender to transfer the Loan amount to the Borrower.