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This Simple Unsecured Loan Agreement is designed for use in Malaysia when parties wish to document a loan transaction without requiring collateral or security interests. It's commonly used for personal loans, business funding, or inter-company financing where the loan amount and risk profile don't warrant securing specific assets. The agreement complies with Malaysian financial regulations and contract law, incorporating essential elements required by the Contracts Act 1950, Moneylenders Act 1951, and Financial Services Act 2013. It's particularly useful for situations where trust, credit history, or business relationships are the primary basis for lending, rather than asset security. The document includes comprehensive terms covering loan amount, interest calculations, repayment schedules, default provisions, and enforcement mechanisms, while remaining relatively straightforward compared to more complex secured lending arrangements.

1. Parties: Identifies and defines the Lender and Borrower with their full legal names and addresses

2. Background: Brief context explaining the purpose of the loan and the parties' intention to enter into this agreement

3. Definitions: Defines key terms used throughout the agreement for clarity and consistency

4. Loan Amount and Purpose: Specifies the principal amount being lent and its intended use

5. Interest Rate: States the applicable interest rate and method of calculation

6. Repayment Terms: Details the repayment schedule, including payment amounts, frequency, and duration

7. Method of Payment: Specifies acceptable payment methods and account details for repayment

8. Events of Default: Lists circumstances that constitute default and their consequences

9. Representations and Warranties: Basic statements of fact and promises made by the Borrower

10. Notices: How formal communications between parties should be made and delivered

11. Governing Law and Jurisdiction: Specifies Malaysian law as governing law and jurisdiction for disputes

12. Execution: Signature blocks and execution requirements