Receipt for Payment of Loan: Draft & Format
Reference draft used in Indian courts — replace the blanks with your own case details.
__________________________ No.
__________________________ Amount:
Name__________(party)
Amount in words________________________________
Duration form
DATE: Description Amount Payment Balance
Borrower will repay the amount of this note in_____ in equal and continuously in every month in the form of installments of Rs.______ each on the ____ day of every month commencing on the __ day of 20__, and ending on ____ of 20__
LATE CHARGES:
Any payment not remunerated within the ______ days of its due date shall be subject to a belatedly charges of ___ of the payment, not exceeding ___ of such payments of installments.
Failure to Pay
If the borrower makes any default in making the payments on time, then the lender can order for the instant repayment of the balance amount of the loan amount, without giving any further notices to the borrower.
_______________ ________________
Borrowers signature Lenders signature
Using this format
This is a reference draft reproduced for study and adaptation. Court rules, court fees and the correct forum vary with the facts and the value of the claim, so have the document checked and filed by an advocate. A defective application can be returned or dismissed even when the case itself is good.
Our Banking & Recovery team drafts and files these documents before the Calcutta High Court, city civil courts, magistrate, family and consumer courts in Kolkata. We handle recovery suits, SARFAESI and insolvency proceedings.
Related
- Banking & Recovery services in Kolkata
- Filing in the Calcutta High Court: complete guide
- All 47 practice areas
- Free first consultation
Disclaimer: this page is a sample format reproduced for reference and study. It is not legal advice and does not create an advocate–client relationship.