continue from this thread

https://forum.lowyat.net/topic/3286253

I notice he was giving hints of want to borrow some cash from me. So, just in case he has no other choice but ask for my help. I never lend some1 this kind of sum. So thinking, i want to do it legally. I mean with agreement n stamped all those stuff.

want to ask /k, will it consider as illegal money laundering if i do this? i wont charge any interest or kadar keuntungan or whatever banks call it nowadays.

its 15k, to settle his cc debt so he can apply for refinance again. I pitty him. I understand the predicament of people going to get married. So, thinking of helping him out if he ask la.

Don't ruin ur friendship by lending him money.trust me.

Jangan bai. Merana kemudian hari nanti,
15k tu baik ko belanja /Ktards berbuka puasa.

Friendship hailat

dont lend. too much. give him 1k

haha good luck dont open thread again after borrowing

too soft TS. just give him motivation.. that is enough.

You monthly 20k but cant help to borrow 15k to him?

Berapa kali mak pesan? Tarak duit jangan kawin!

later after ada anak come to TS for help again

since 15k can borrow, another 15k sure can also right? right?

good advice from my friend.

If you value the friendship don't lend. Give what you can and feel comfortable with without expecting it to be returned.

last time got malay friend ask 20k, i was shock and ask him borrow from own family or relationship... his miss call me many time i no layan.. in the end his still layan me.... lucky no borrow him 20k

lending sounds like giving money nowadays so take that into consideration.

I personally would lend as I see how "worthy" they are to me. If someone is really trusty I don't mind lending quite amount, but if never talk suddenly ask for 1k+, pigi mati

NO

Do u even know there is a big difference between LENDING and LAUNDERING?

NO........ Never.
He is just ur friend, image we are unable to collect back the money from our own relative !!!! yet, they are buying new car, ipad... wtf...
my case, it is just few K yet, been delayed for few years, and they keep on upgrading their gadget and car whereas, no money to pay me back +_+

there is always 1 assumption to remember, once you given the money out NEVER EXPECT to get it back !!! this will make u feel better. Oh, your friend is paying u back, THIS CONSIDER AS BONUS !!!! and you are lucky to retain such friendship

as usual, ppl living beyond their means.

Instead of lending 15k to your friend, how about getting 15 friends to lend 1k each.

dear ts, why you friend want to refinance in in first place, for funding his marriage? too much stupidity lies on your friend.

mau kawin, takda saving.
takda duit beli barang rumah, beli pakai kredit.
tutup lubang, gali lubang mindset

His expenses will increase a lot after marriage so what makes you think he'll pay you back? Maybe if you wait till his kids reach primary school.

ayam miskin takde duit beli optimus prime, Pinjam (kalau boleh bagi jer) RM 1K.

This post has been edited by limfreelance: Jul 11 2014, 01:07 PM

if can have jiki jiki with his waifu as interest ok

Dia x mintak ko jangan pinjam la...... Kalo dia mintak ko ambik gambar bogelnya dulu, x bayar post kat fb.

He got 15k free & can piap2 everyday.

U got???

If he is your bestfriend, then for me better give. He will remember.

And remember to have B&W aggreement.

time to end this friend shit.

the moment u start lending, then everyone will want a piece from you.

stop that virus before it starts to develop.

stay firm.

this is good advice... new skill aquired...

There is no such thing as lending money to your friend, only got such thing as giving money to your friend.

If you not willing to give, then don't.

Thrust him pls

if u lend to him, dun expect to get it back.

Lending money is not money laundering lol.

Money laundering is using illegally obtained money and let it go through many transactions to erase the trace, and make it legal money.

What you meant should be illegal deposit taking and giving an interest, or illegal money lending and receiving an interest. Which also does not apply here. This is just friend lending friend money.

This post has been edited by kelvinlym: Jul 11 2014, 02:08 PM

good idea..or maybe 150 friends lending 100 each

or, 1500 friends lending rm10 each...

In case if u need a loan agreement draft
LOAN AGREEMENT

This Loan Agreement (hereinafter referred to as the “Agreement”) is made on the …………… day of ……………………….. 2012.
Between:
(1) (NRIC No., an individual having its residential address at No 50490 Kuala Lumpur, Malaysia (“Lender”) of the one part;

AND

(2) (NRIC No:), an individual having its residential address at No. 51200 Kuala Lumpur, Malaysia of the second part (“Borrower 1”);


AND


(3) (NRIC No:), an individual having its residential address at No. 40170 Shah Alam, Selangor Darul Ehsan, Malaysia of the third part (“Borrower 2”).

WITNESSETH
1. WHEREAS, the Borrowers have requested the Lender to provide a loan for the Borrowers for an amount of RM300,000.00 to finance the Borrowers’ business of boutique (“Loan”).
2. The Lender has agreed to grant the Borrowers by way of loan in the amount of RM300,000.00 hereunder, under terms and conditions hereinafter contained to enable the Borrowers to finance the Business.
NOW THEREFORE, in consideration of the premises and mutual covenants herein contained, the parties hereto agree to enter into this Agreement under the following terms and conditions:
CLAUSE 1 DEFINITIONS
For the purposes of this Agreement and any and all documents executed pursuant hereto, the following expressions shall have the meanings set forth below:
1.1. “Advance” mean the amount which the Lender advance to the Borrowers on a Borrowing Date;

1.2. “Agreement” means this agreement

1.3. “Borrowers” means Borrower 1 and Borrower 2;
1.4. “Borrowing Date” means the date of the drawdown of the relevant Advance;
1.5 “Business” means the business of a fashion boutique;
1.6 “RM or Ringgit Malaysia” mean the lawful currency of Malaysia;
1.7 “Event of Default” means any or all of the events referred to in Article 5 hereof;
1.8 “Indebtedness” means all amounts payable by the Borrowers to the Lender hereunder, whether the principal amount, interest amount, other fees or otherwise;
1.9 “Taxes” mean any present or future income or other taxes, levies, duties, charges, fees, deductions or withholdings of any nature now or hereafter imposed, levied, collected, withheld or assessed by the Government of Malaysia.
1.10 “Working Day” means any day which is not a Saturday, a Sunday or a bank or public holiday in Malaysia;
CLAUSE 2 THE COMMITMENT
2.1. Advance(s)
Subject to the terms and conditions of this Agreement, the Lender agrees to make the Advance to the Borrowers by way of loan in an aggregate of RM300,000.00 (Ringgit Malaysia Three Hundred Thousand) only.
2.2. Drawdown
The Advance shall be credited by the Lender into Borrower 1 account as follows –
Name :
Bank : Malayan Banking Berhad

Account number :

2.3 Borrower 2 has agreed that the payment of the Advance shall be credited into Borrower 1 account as provided in clause 2.2 above.



2.4. Restricted Purpose
The Borrowers shall use the Loan solely for the purpose to finance the Business.

CLAUSE 3 INTEREST
There shall be no interest whatsoever payable by the Borrowers to the Lender with regards to the Loan granted.

CLAUSE 4 REPAYMENT
4.1. All payments to be made hereunder by the Borrowers to the Lender shall be made within five (5) years from the date of the first monthly payment, with a monthly payment of RM5000.00 (Ringgit Malaysia Five Thousand) only.
4.2 The first monthly payment shall be made on the 1st of October 2013 and shall continue until the Loan has been fully repaid.
4.3 All monthly payments shall be credited by the Borrowers into the Lender’s account -
Name :
Bank :

Account number :
4.4 Deductions from and Increases to Payments
All payments to be made by the Borrowers hereunder shall be free and clear of, and to the extent permitted by law without deduction for or on account of any Taxes, unless required to do so by law. If the Borrowers shall at any time be compelled by law to withhold or deduct any Taxes from any amounts payable to the Lender hereunder the Borrowers shall pay such Taxes when due and shall promptly send to the Lender all tax receipts together with such other documentary evidence with respect to such payments as may be required from time to time by the Lender. The obligations of the Borrowers under this Agreement shall survive the repayment of the Indebtedness.
CLAUSE 5 EVENTS OF DEFAULT
5.1. Each of the following events and occurrences shall constitute an Event of Default under this Agreement.
(a) Non-Payment
The Borrowers fail to pay to the Lender when demanded or when otherwise due and payable the amount which the Borrowers are obligated to pay hereunder.
(b) Bankruptcy Default
The Borrowers (i) becomes insolvent or unable to pay his debts when due, or (ii) commits any act of bankruptcy, initiate winding-up or reorganization proceedings, or (iii) acknowledges in writing his insolvency or inability to pay his debts; or any petition relating to bankruptcy is filed with respect to the Borrower by his creditors; or the Borrower's properties and assets are attached or seized by his creditors.
5.2. Consequence of Default
If any Event of Default shall occur under this Agreement, the Lender may by notice to the Borrowers declare the outstanding principal amount of the Advance hereunder to be immediately due and payable whereupon the same shall become forthwith due and payable without demand, protest or further notice of any kind and without the consent, decree or authorization of any court, all of which are expressly waived by the Borrowers. No waiver of an Event of Default shall constitute a waiver of any other or any succeeding Event of Default or of the continuance of the Event of Default so waived except in accordance with the specified terms of such waiver.
CLAUSE 6 COSTS AND EXPENSES
6.1. Enforcement
In the event of any default by the Borrowers of his obligations, the Borrowers shall pay all costs and expenses incurred in connection with the enforcement of the Lender's rights and privileges under this Agreement and other instruments arising from or in connection with this Agreement.
6.2. Without prejudice to any other provision of this Agreement, the Borrowers shall indemnify the Lender against any out-of-pocket loss or expenses which it may sustain or incur (i) as a consequence of the failure by the Borrowers to pay when due any part of the Indebtedness; (ii) as a consequence of any events of default pursuant to Article 5 hereof.
CLAUSE 7 MISCELLANEOUS
7.1. Amendment
This Agreement supersedes any prior expressions of intent or understanding with respect to this transaction. This Agreement may be amended only by an instrument in writing signed by the Lender and the Borrowers.
7.2. Waiver
No failure or delay by the Lender to exercise any right, power, or privilege under this Agreement or any other documents called for by the terms of this Agreement shall operate as a waiver thereof nor shall any single or partial exercise of such right, power or privilege preclude any further exercise thereof or of any right, power or privilege. The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by law.
7.3. Assignment
This Agreement shall be binding upon and shall be enforceable by the Borrowers and the Lender and their respective successors and assigns.
The Borrowers shall have no rights to assign or transfer their rights or obligations hereunder except with the written consent of the Lender. The Lender may assign all or any of its rights hereunder together with the security to any third party with prior written notice to, but without the consent of the Borrowers.

7.4. Governing Law and Jurisdiction
(a) This Agreement and any other document required hereunder shall be governed by and construed in accordance with the laws of Malaysia.
(b) The Lender hereby submits to the non-exclusive jurisdiction of the courts of Malaysia in relation to any claim, dispute or difference which may arise hereunder or under any other documents and in relation to the enforcement of any judgment rendered pursuant, to any such claim, dispute or difference.
7.5. Notices
All notices, requests, demands, waivers, consents, appointments or other communications in connection with or pursuant to this Agreement shall be in the English language, addressed to the recipient and sent.
The Lender
(NRIC No.
No.
Malaysia


Borrower 1
(NRIC No.
No.
51200 Kuala Lumpur
Malaysia



Borrower 2

( NRIC)
40170 Shah Alam
Selangor Darul Ehsan
Malaysia
or in any case to such other address as any party may designate as its address by notice to the other parties, provided that the Borrowers shall be obliged to notify a change of address to the Lender.
All notices, requests, demands, waivers, consents, appointments or other communications shall be in writing and delivered personally or sent by registered prepaid letter (sent by airmail) or telefax and shall be deemed to have been duly given or made when delivered (in the case of personal delivery) or 10 (ten) days after posting (in the case of a letter) and on the first working day after dispatch (in the case of telefax).



7.6 Binding Agreement

This Agreement, when executed and delivered pursuant hereto, shall constitute the legal, valid and binding obligations of the Borrowers and enforceable in accordance with its terms. This Agreement does not and will not violate any provision of any law, regulation, decree or similar enactment of Malaysia.


7.7. Time is of the Essence

Time, wherever mentioned, shall be of the essence for the purposes of any provision of this Agreement.













IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year first written above.



The Lender
)
(NRIC No. )
)


In the presence of: ) …………………………


……………………………
Name:
Passport No. / NRIC No.:


Borrower 1 )
)
(NRIC No. )
)
In the presence of: ) ………………………


………………………………
Name:
Passport No. / NRIC No.:




Borrower 2 )
)
(NRIC NO. )
)
In the presence of: ) ………………………


………………………………
Name:
Passport No. / NRIC No.:

the biggest lie from your friend is "can i BORROW some money?"

if you wanna pity him, make sure you have someone to pity you later

He seems like a person with no financial planning, do you think he can manage his money, able to pay back the money to you in future?

bro pls dont open thread if your friend wont pay u back on time

i got several friends who hutang me till now never pay although the amount is not very big eg rm50 rm100

waiting for next thread

"friend borrow 20k but refuse to pay,what should i do "

you bagi pinjam duit to your kawan, you must expect these 2 outcomes :
1. you hilang duit
2.you hilang kawan

I dont know how to decribe him. Either he is bad in planning or like to take high risk. Never see him as some1 who have financial problem b4

Looks like the price of friendship is RM 15K these days

why ah? sikit sikit 15,000. This figure so familiar some more

Money can ruined a good friendship. Think twice before lending it. I have experience for lending it. If want to give make sure got Black and white. How he gonna pay. Make sure got witness as well. I lend couple of thousand to my friend till we had arguments about it.

frenship menship kot nak bagi sangat bagi dengan jumlah yang kau tak kisah kalau dia tak bayar sekali pun..

silent_stalker

If you want to lend money to your good friend and you afraid he can't pay you back, just don't lend it. Thats it. When you want to help a friend in term of money, just don't think so much whether he will return the money or not. For save bet, you just lend a sum of money that you can afford to lose.

Ok now you decided to lend him money, so you guys sign black & white agreement. The worst scenario, let's say he doesn't want to pay you back and run away from you, you wanna sue him? You can sue him but for sure it will ruin your friendship with him. This friendship is worth 15k, quite expensive I would say.

This post has been edited by la bella: Jul 11 2014, 03:32 PM

I agree with what all of u say. The most I have lend some1 is 5k. That amount I can still close 1 eye if its not paid back. But 15k is a bit high. I guess I can only give advice n moral support. If he wishes to borrow below 5k, I may consider.

You wan borrow then all the best to ur 15k.
Say good bye to it.

Money and lending destroys everything in life including relationships. Best thing to say, sorry brah, we are mates, friends but i dont wan money comes in between making both of us enemies later on. Lets just continue being friends as how we used to be.

duit tak boleh buat kawan