Business — Comments Off on Sample Loan or Debt Repayment Agreement for Personal & Employee Loans
29
Aug 21

Sample Loan or Debt Repayment Agreement for Personal & Employee Loans

Tips & Techniques to Write Loan or Debt Repayment Agreement

Following are the Tips & Techniques for proper Loan or Debt Repayment agreement to safe the interest of lender and borower.

  1. The tough language involved in this document is required to improve your chances of collecting on a defaulted note or loan.
  2. Details About Collection Costs, Attorney’s Fees, and Late Charge.  
  3. Details about Default Events like death of borowers, bankcurreptcy and other events
  4. The strict terms are required to improve the odds of ultimate collection.
  5. This is a simple straightforward document that only requires the signatures of the party.
  6. If you are concerned about any later dispute, and being on the safe side is always prudent, we recommend you obtain a notary verification and signature as well.
  7. Make multiple copies and distribute them to the parties. You should keep your copies with your corporate or personal records.



Sample Loan or Debt Repayment Agreement for Personal or Employee Loaning

$ ______________ (Loan or Note)                                                    __________ (Date)

For value received, the undersigned _____________________________________

(“Borrower”), _________________________________________ (Address), promises to pay to the order of ____________________________________(“Lender”), the face value of the loan or note of $ _____________ at a monthly interest rate of __% or annual interest rate of __%, in monthly Installments as described further below, to a place designated by Lender, which may from time to time change per the written notice of Lender to Borrower, with the initial address being ___________________________.

Until the Loan or Note is due in full, for whatever reason, the unpaid principal and accrued interest shall be payable in monthly instalments (“Installments”), payable on the first of each month (“Installment Due Date”) of $ __________, and continuing until ______________ (“Due Date”), at which time the remaining unpaid principal, interest, and other costs, if any, shall be due in full unless this Note was called earlier per the rights of the Lender under this Agreement.

Any payments on this Note shall first be applied against legal or collection costs until paid in full, as then may be due, and then against the outstanding interest, until paid in full, as then may be due, and finally applied to the outstanding principal balance.

1.  Prepayment. 

The Borrower reserves the right to prepay this Note (in whole or in part) prior to the Due Date with no prepayment penalty.

2.  Collection Costs, Attorney’s Fees, and Late Charge. 

If any payment obligation under this Note is not paid when due, the Borrower promises to pay all costs of collection, including reasonable attorney fees, whether or not a lawsuit is commenced as part of the collection process, without protest of any kind, legal or otherwise.  If the note remains unpaid for an additional 30 days after Lender gives demand, the Borrower shall be required to pay a 5% late charge based on the Installment amount.  Each late Installment shall make another 5% due.

3.  Default Events. 

If any of the following events of default occur, this Note and any other obligations of the Borrower to the Lender, shall become due immediately, without demand or notice:

1) failure of the Borrower to pay the monthly instalment payment on or before the Installment Due Date;

       2)  death of the Borrower or Lender;

       3)  filing of bankruptcy proceedings involving the Borrower as a Debtor;

       4)  application for the appointment of a receiver for the Borrower;

       5)  making of a general assignment for the benefit of the Borrower’s creditors;

       6) insolvency of the Borrower;

       7) misrepresentation by the Borrower to the Lender for the purpose of obtaining or

extending credit.



4.  Borrower Waivers. 

waives presentment for payment, protest, and notice of protest and nonpayment of this Note.

5.  Additional Lender Rights. 

No renewal or extension of this Note, delay in enforcing any right of the Lender under this Note, or assignment by Lender of this Note shall affect the liability or the obligations of the Borrower.  All rights of the Lender under this Note are cumulative and may be exercised concurrently or consecutively at the Lender’s option.

6.  Notices.

Any notice required by this Agreement or given in connection with it shall be in writing and shall be given to the appropriate party by personal delivery or recognized overnight delivery service such as FedEx.

If to the Borrower:  ______________________________________________________.

If to the Lender: ________________________________________________________.

7.  No Waiver.

The waiver or failure of either party to exercise in any respect any right provided in this agreement shall not be deemed a waiver of any other right or remedy to which the party may be entitled.

8.  Entirety of Agreement.

The terms and conditions set forth herein constitute the entire agreement between the parties and supersede any communications or previous agreements with respect to the subject matter of this Agreement.  There are no written or oral understandings directly or indirectly related to this Agreement that is not set forth herein.  No change can be made to this Agreement other than in writing and signed by both parties.

9.  Governing Law.

This Agreement shall be construed and enforced according to the laws of the State of ____________________ and any dispute under this Agreement must be brought in this venue and no other.

10.  Headings in this Agreement

The headings in this Agreement are for convenience only, confirm no rights or obligations in either party and do not alter any terms of this Agreement.

11.  Severability.

If any term of this Agreement is held by a court of competent jurisdiction to be invalid or unenforceable, then this Agreement, including all of the remaining terms, will remain in full force and effect as if such invalid or unenforceable term had never been included.

In Witness whereof, the parties have executed this Agreement as of the date first written above.

_________________________                                              _______________________

Borrower                                                                                 Lender

Download PDF
Download Document

Policy Statements / Policy Statements — Comments Off on Sample Employee Overtime Policy & Procedures
22
Aug 21

Sample Employee Overtime Policy & Procedures

Memorandum

TO:

FROM:

DATE:

SUBJECT: Overtime Policy

The following policies apply to all overtime work at Company:

• Non-exempt employees may work overtime only if authorized by their immediate supervisors.
• When requesting overtime, supervisors must give at least four hours notice before the end of scheduled work hours.
• No employee who is working on a continuously moving line or operating a machine can be requested or allowed to work more than 12 hours in one day.
• All reported overtime will be reviewed by the supervisors.
• Work at home can qualify as overtime only with a supervisor’s express written permission.

Policy Statements / Policy Statements — Comments Off on Sexual Harassment Policy & Guidelines in the Workplace
22
Aug 21

Sexual Harassment Policy & Guidelines in the Workplace

Memorandum

TO:

FROM:

DATE:

SUBJECT: Sexual Harassment Policy

Brown Distributors will not tolerate sexual harassment of any kind from any employee. Sexual harassment is defined as uninvited and or unwelcome verbal or physical conduct directed at an employee because of his or her sex under the following condition:

• When it is either stated or suggested that submission to the conduct is a condition of the individual’s employment.
• The conduct creates a work environment that is offensive, intimidating, or hostile, or if it unreasonably interferes with the individual’s job performance.
• The submission or refusal of the contact affects an employment decision pertaining to that individual.

Any employee found in violation of this policy will be subject to disciplinary action or termination.

Policy Statements / Policy Statements — Comments Off on Sample Smoking Policy at Workplace
22
Aug 21

Sample Smoking Policy at Workplace

Memorandum

TO:

FROM:

DATE:

SUBJECT: Smoking Policy

In an effort to protect the rights of both the smoking and non-smoking employees of Walton Productions, we have developed a company policy that permits smoking only in designated locations. This policy applies to both employees and visitors to our office.

Designated smoking locations include the third-floor break room and outside the east and south entrances. Departmental managers may also designate smoking areas at their discretion as long as they do not become an inconvenience to non-smoking employees.

Policy Statements / Policy Statements — Comments Off on Dismissal, Termination and Exit Policy
22
Aug 21

Dismissal, Termination and Exit Policy

Memorandum

TO:

FROM:

DATE:

SUBJECT: Termination & Exit Policy

Rollins Steel wishes to retain the services of all employees who perform their duties efficiently and effectively. However, it may be necessary to terminate employment for the good of the employee and/or the company. There are five types of termination:

  1. Layoff
  2. Discharge for performance reasons
  3. Discharge for disciplinary reasons
  4. Retirement
  5. Resignation
  6. Requested resignation

Discharge for performance reasons, discharge for disciplinary reasons, and requested resignation are categories under which the company has initiated termination. In these cases, the supervisor must give the employee two weeks notice or the equivalent salary in lieu of two weeks notice. Except in special cases, employees terminated under these categories are not eligible for continuing salary and benefits.

Discharge for retirement, layoff, and resignation are entitled to receive full or partial salary and/or benefits including severance pay. In cases of retirement, health and pension benefits remain intact. Those laid off receive only health benefits during the non-working period but are entitled to full pay and benefits upon reinstatement. Those who resign are entitled to health benefits for a period of four months after the last day worked plus pension benefits accrued.

Policy Statements / Policy Statements / Raise, Promotions & Transfers — Comments Off on Tips to Write Employees Transfer and Relocation Policy
22
Aug 21

Tips to Write Employees Transfer and Relocation Policy

Memorandum

TO:

FROM:

DATE:

SUBJECT: Transfer and Relocation Policy

Upon relocation, the employees of Foley Distributors are eligible for certain benefits that will assist them in the transition. These benefits are:

• 100 percent of moving cost
• Career counselling and employment search for an employed spouse
• Legal and real estate costs incurred in moving
• Cost of living differential according to the most recent figures released by the Department of Commerce but not to exceed 12 percent.

Employees must submit receipts detailing these expenses to the Human Resources Department of the office where they have relocated within two months of beginning employment at the new location.

Policy Statements / Policy Statements — Comments Off on Sample Vocation & PTO Policies for Employees
22
Aug 21

Sample Vocation & PTO Policies for Employees

Memorandum

TO:

FROM:

DATE:

SUBJECT: Vacation & Paid Time Off (PTO) Policy

As part of the benefits package, each Holly Systems employee is eligible for a certain number of paid vacation days each calendar year. The amount of vacation the employee is entitled to depend upon how long they have worked for our company.

• Six months to two years — one week paid vacation
• Two to five years — two weeks paid vacation
• Five to ten years — three weeks paid vacation
• Ten years or more — four weeks paid vacation

Scheduling Vacations

Requests for vacation days must be made at least two weeks in advance of the planned vacation time except in cases of emergency. Supervisors will attempt to accommodate requested vacation schedules providing they do not cause an unreasonable disruption in company business.

Vacation time does not roll over into new calendar years. The previous year’s vacation days not used by December 31 will be considered lost vacation time.

Vacation in Cases of Termination

Employees who terminate employment by retirement or resignation are entitled to receive payment for any unused vacation time. However, those who are dismissed with a cause or who retire or resign without due notice are not entitled to pay for unused vacation time.

Policy Statements / Policy Statements — Comments Off on Sample Safety and Health Policy
22
Aug 21

Sample Safety and Health Policy

Memorandum
TO:
FROM:
DATE:

SUBJECT: Safety and Health Policies

All Wallace Manufacturing employees are responsible for observing safe working practices, policy rules, and all applicable laws and regulations.

Medical Examinations

• All pre-employment medical exams will be performed by a physician chosen and paid for by the company
• All medical history forms must be completed completely and honestly. Withholding information could result in termination
• Physical exams could be required due to a transfer, promotion, declining performance, or increased absenteeism
• If any employee is impaired due to prescribed medication, they must report it to their supervisor prior to arriving at work
• Any employee with a drug or alcohol problem will be encouraged to seek treatment; however, such treatment does not preclude appropriate action by the company if work performance is affected

Accidents and Injuries

• Following any work-related injury, an employee must undergo a medical exam and drug test with 24 hours or face disciplinary action
• All work-related illnesses or injuries must be immediately reported to the supervisor
• Following treatment for injury or illness, all employees must:
1. Complete a Worker’s Compensation Report
2. Keep scheduled medical appointments
3. Return to work when cleared by a physician
• Company may offer modified duty on a temporary basis
• Employee may be granted a medical leave of absence if more than two weeks is required

Safety Rules – Each department head or supervisor is responsible for establishing necessary safety rules and posting them accordingly. Failure to comply with these rules will result in disciplinary action.

Hiring and Orientation – No employee shall be hired to do a job he or she is not physically or mentally able to perform in a safe and effective manner.

Training and Education – Managers and supervisors are responsible for recognizing the need for training or educational classes or materials which can improve safety. Human Resources will supply approved materials.

Accident Reports – All accidents reported within a department must be relayed to the Human Resources Department.

Facilities and Inspections – Wallace Manufacturing shall maintain all safety and health facilities to meet all applicable standards. Inspections will be conducted on a regular basis to maintain standards.

Business — Comments Off on Indemnification Agreement Template
15
Aug 21

Indemnification Agreement Template

_________________________, referred to as INDEMNITOR, and ________________________, referred to as INDEMNITEE agree:

Pursuant to a _________________________ dated __________________, INDEMNITOR agreed to indemnify INDEMNITEE from certain claims and liabilities. A claim has been made by ______________________ against INDEMNITOR, on ___________________ a claim was made against INDEMNITEE for ___________________________________________.

The INDEMNITOR and INDEMNITEE disagree as to whether the contract provides for indemnity for the claim presented by INDEMNITOR.

The parties agree that INDEMNITOR shall provide legal counsel and other services necessary to defend the claim, provided that the provision of such services is not a waiver of any rights that INDEMNITOR may have to dispute whether the claim is required to be indemnified. Further, the parties agree that INDEMNITOR shall control the defence of the claim and INDEMNITEE will cooperate fully with the INDEMNITOR in the defence of the claim.

The parties shall submit the dispute regarding whether the contract provides indemnity herein to INDEMNITEE to a suit before the Court for.

Upon the final decision by the COURT finding that there is no indemnification, the defence shall be turned over to the INDEMNITEE.

Upon the final decision by the COURT finding that indemnity is provided, the INDEMNITOR shall proceed to defend the claim.

“Final decision” shall be defined as a ruling by a Court for which no further appeal is possible, or by agreement by the parties that no further litigation shall take place.

This is the entire agreement between the parties and this agreement may only be varied by a writing executed by the parties.

Dated: ______________________

 ___________________________________

INDEMNITOR

 ___________________________________

INDEMNITEE

Indemnification Agreement – Review List

This review list is provided to inform you about this document and assist you in its preparation.  This is a standard indemnification agreement related to a disputed situation.   Feel free to modify it as required by your circumstances.

  1. Make multiple copies.  Give one to each signatory.  Keep one copy in the transaction file.
Download PDF
Download Document
Business — Comments Off on Sale & Purchase of Goods Agreement Template
15
Aug 21

Sale & Purchase of Goods Agreement Template

This Agreement for the Sale of Goods (“Agreement”) made and effective this __________ (Date), by and between ___________________________________ (“Buyer”) and ____________________________________ (“Seller”).

Seller desires to sell to Buyer, and Buyer desires to purchase from Seller, certain tangible personal property.

Therefore, in consideration of the mutual promises herein contained, the parties hereto agree as follows:

1. Sale.

Seller agrees to sell, transfer and convey to Buyer, and Buyer agrees to purchase the following tangible personal property (the “Goods”):  (List here or in an attachment).

2. Price.

Buyer shall pay Seller for the Goods $_________________. Buyer shall make payment of the full purchase price by 10 days following delivery of the Goods by Seller as provided herein, subject to Buyer’s right of inspection as set forth in Section 4 below.  In the event that the purchase price is not timely paid, in addition to its other remedies, Seller may impose, and Buyer shall pay, a late payment charge equal to two percent (2%) of the overdue balance amount each month.

3. Shipping.

Buyer shall purchase goods FOB Seller’s location and be responsible for all expenses associated with shipping.   The risk of loss from any casualty to the Goods, regardless of the cause, shall be upon Buyer upon the delivery of the Goods to Buyer’s shipper as set forth herein.  When practicable, Seller will follow Buyer’s requested shipping instructions.  If none are requested, Seller will use its discretion in selecting an appropriate transportation method.

4. Right of Inspection.

Buyer shall have the right to inspect the goods on arrival at Buyer’s facility.  Within 3 days after delivery, Buyer must give notice to Seller of any claim with respect to the condition, quality or grade of the Goods or non-conformance to this Agreement, specifying the basis of the claim in detail by fax or recognized overnight delivery service such as FedEx.  Seller may, at its option inspect the Goods at Buyer’s facilities to confirm that the Goods do not conform.  Failure of Buyer to comply with these conditions within the time set forth herein shall constitute irrevocable acceptance of the Goods by Buyer.  In the event the Goods do not conform to this Agreement, Buyer’s sole remedy and Seller’s sole obligation shall be at Seller’s option to replace the Goods at Seller’s expense or credit Buyer the amount of the purchase price for the non-conforming goods.  Return shipping expensive in this case shall be the sole responsibility of Seller.

5. Identification of Goods.

Identification of the Goods must be made here or in an attachment.

6. Goods Sold in “As is” Condition

Goods are sold in an “As is” condition.  The Seller makes no warranties of any kind to the Buyer.  This clause shall be broadly interpreted in favour of the Seller.

7. Transfer of Title.

Transfer of title and full ownership rights in the Goods shall not pass to Buyer until Buyer has paid in full the purchase price to Seller including any late fees, if applicable, as described in Section 2., Price, above. 

8. Limitation of Liability

In no event shall Seller be liable for any special, indirect, incidental or consequential damages arising out of or connected with this Agreement or the Goods, regardless of whether a claim is based on contract, tort, strict liability or otherwise, nor shall Buyer’s damages exceed the amount of the purchase price of the Goods.  This clause shall be broadly interpreted in favour of the Seller.

9. Taxes.

Buyer shall pay or reimburse Seller as appropriate for any sales, use, excise or other tax imposed or levied with respect to the payment of the purchase price for the Goods or the conveyance of title in the Goods to Buyer by any recognized government authority, whether at the local, state, or federal level.  In no event shall Buyer be responsible for any tax imposed upon Seller based upon Seller’s income or for the privilege of doing business.

I0. Notices.

Any notice required by this Agreement or given in connection with it shall be in writing and shall be given to the appropriate party by personal delivery or recognized overnight delivery services such as FedEx.

If to Seller: ______________.

If to Buyer: ____________.

11.  No Waiver.

The waiver or failure of either party to exercise in any respect any right provided in this agreement shall not be deemed a waiver of any other right or remedy to which the party may be entitled.

12.  Entirety of Agreement.

The terms and conditions set forth herein constitute the entire agreement between the parties and supersede any communications or previous agreements with respect to the subject matter of this Agreement.  There are no written or oral understandings directly or indirectly related to this Agreement that is not set forth herein.  No change can be made to this Agreement other than in writing and signed by both parties.

13.  Governing Law.

This Agreement shall be construed and enforced according to the laws of the State of ____________________ and any dispute under this Agreement must be brought in this venue and no other.

14.  Headings in this Agreement

The headings in this Agreement are for convenience only, confirm no rights or obligations in either party and do not alter any terms of this Agreement.

15.  Severability.

If any term of this Agreement is held by a court of competent jurisdiction to be invalid or unenforceable, then this Agreement, including all of the remaining terms, will remain in full force and effect as if such invalid or unenforceable term had never been included.

In Witness whereof, the parties have executed this Agreement as of the date first written above.

_________________________                                              _______________________

Buyer                                                                                     Seller

_______________

Date

Sale of Goods Agreement – Review List

This review list is provided to inform you about the document in question and assist you in its preparation.

1. This agreement should be used only with tangible personal property.  “Personal property” includes items such as furniture, supplies and other “goods”.  It does not include real estate or intangible property (e.g., copyrights, software and other intellectual property).  This Agreement is not intended for regular inventory purchases.  This kind of agreement is generally used for the occasional purchase of property such as desks, chairs, used computer equipment, and other such equipment.

2. Clearly this form may not be appropriate for complex, technical, or perishable items that often require more specification, especially as to expected performance.

3. From a negotiation standpoint, with occasional purchases, both parties are better off to pay upon delivery or shipment.  Otherwise, controversy can linger and eat up a substantial amount of time, energy, and money. 

4. Print two copies of the Agreement for the Sale of Goods, one for each party.  Both parties should sign each copy so that each can have an original copy.

Download PDF
Download Document
← Older Entries