Loan Agreement With Car As Collateral Template for Nigeria

1. Insurance Requirements: Detailed section on insurance requirements if not covered under covenants - used when specific insurance terms need elaborate explanation

2. Guarantor Provisions: Include when a guarantor is required for the loan

3. Assignment and Transfer: Include when either party needs the right to assign or transfer their rights under the agreement

4. Pre-payment Terms: Include when early repayment options are to be specifically allowed or restricted

5. Security Agent: Include when a third party will act as security agent for the lender

6. Cross-Default: Include when the loan should be linked to other financial obligations of the borrower

1. Schedule 1 - Vehicle Details: Comprehensive description of the vehicle including photographs, registration documents, and valuation report

2. Schedule 2 - Repayment Schedule: Detailed breakdown of payment dates, installment amounts, and interest calculations

3. Schedule 3 - Insurance Requirements: Specific insurance requirements including types of coverage and minimum amounts

4. Schedule 4 - Form of Notice: Template formats for various notices under the agreement

5. Appendix A - Vehicle Registration Documents: Copies of vehicle registration certificate and other ownership documents

6. Appendix B - Condition Report: Initial condition report of the vehicle at the time of creating the security