Horizon Finance Limited Contract for Credit Facilities

Date:

Identity & Contact Details of the Creditor

• Creditors Name: Horizon Finance Limited
• Address: Unit 16 Honeysuckle House, Waterport Terraces, Gibraltar, GX11 1AA
• Email Address: Finance@Finance.gi

Identity & Contact Details of the Borrower

• Borrowers Full Name:
• Address:
• Email Address:
• Telephone: 00350

Description of main features of the credit product

• Partner:
• Invoice Number:
• Total Amount of Credit: £
• Interest Rate: 25%15%
• Company:
Generate
• You will have to pay monthly instalments of: 0.00

Period	Principal (£)	Repayment Amount (£)	Interest (£)	Capital (£)	Balance (£)

Total Amount Based on Payments: 0.00

Cost of credit

• Borrowing rate: 25% per annum
• APR: 53%
• It is not compulsory, in order to obtain the credit or obtain it on the terms and conditions markets, to take out an insurance policy securing the credit or any other ancillary service contract.

Related Costs

• Cost in the case of late payments: a fixed charge for each calendar day you miss a payment of £5
• These fees will continue until both the accumulated fees and the original payment has been paid.
• Failed Direct Debit: will incur a £20 charge.
• All payments which are not received via direct debit will also carry a £20 administration charge.
• In the case of default, third party debt collection fees will be borne by the borrower/guarantor.
• In the case of default, third party lawyer and court fees will also be borne by the borrower/guarantor.

Other important legal aspects

• Right of withdrawal:
  • You have the right to withdraw from the credit agreement within a period of 14 calendar days of this agreement.
  • To cancel, you must give the creditor written notice that you intend to cancel the contract by email before the 14th calendar day from the date of this agreement to Finance@Finance.gi
  • Pay £100 creditor expenses in connection with the contract and its cancellation.
• Early Repayment:
  • You have the right to repay the credit early at any time in full or partially.
  • You must give the creditor a minimum of 14 calendar days written notice that you intend to make early repayment, by email to Finance@Finance.gi
  • You will be entitled to a 50% reduction on the Interest and fees for the remaining duration of the credit agreement.

Direct Debit Mandate

The borrower agrees to give Horizon Finance Limited permission to set up a direct debit on their behalf from the below bank account:

• Account Type: Select Account TypeCurrentSavingsFoundation
• Account Name:
• Account Number:
• Sort Code:

The borrower agrees:

• That they are not a PEP (Politically Exposed Person)
• Over 18
• In full time employment at the time of this contract
• That it is their responsibility to ensure payments are received by Horizon Finance LTD in the event of a failed direct debit payment
• To give full permission to Horizon Finance LTD to set up a direct debit every month for the duration of the loan term from the account details provided to collect monthly payments as set out in the loan schedule. Should a direct debit fail or the borrower falls behind. This can be done indefinitely until the funds owed have been recouped.

You have the right, upon request, to obtain a copy of the draft credit agreement free of charge. This provision does not apply if the creditor is at the time of the request unwilling to proceed to the conclusion of the credit agreement with you.

The Borrower agrees that, for the duration of this loan agreement and until the full repayment of all amounts owed to the Lender under this agreement, the Borrower shall not enter into any additional loan agreements, credit agreements, or other forms of debt obligations with any third party, including but not limited to financial institutions, credit providers, or private lenders, unless explicitly approved in writing by Horizon Finance Ltd. Failure to comply with this clause shall constitute a breach of this agreement, entitling the Lender to take legal action, including but not limited to demanding immediate repayment of the outstanding balance of this loan.

Event of default

A loan is treated as in default if:

• a scheduled loan payment is not made at the scheduled time. A Participant shall then have a grace period to cure the default before it becomes final. Such grace period shall be for a period that does not extend beyond 7 calendar days from the scheduled date of payment.
• insolvency or bankruptcy
• failing to comply with other obligations under the loan agreement, such as the provision of financial information;
• Any decrease in value of the surety other than expected wear and tear or proportional depreciation.
• Changes in your circumstances. Such as loss of employment, decrease in salary, matrimonial changes.

In case of default

Horizon Finance Limited can:

• ask for immediate repayment of the entire capital and interest;
• refuse to lend you more money;
• take possession of any secured property and sell it to repay the loan, that sale will eliminate your interest in the Goods and the Proceeds;
• ask anyone who has guaranteed the loan to repay it on your behalf.
• Share your information with the necessary parties for the purpose of collecting the debt.
• Take legal action against you in the event of none payment of demanded amounts.

In case of default the borrower:

• Gives permission to be served court documents by electronic means
• Agrees to pay all costs and fees that may be involved in collecting the debt
• Allows us to share all information that has been provided with any relevant parties in an attempt to collect the debt

Required Documents