The borrower is obliged to use the funds for the purposes specified in the agreement (or for any purposes).
If the loan is targeted, the borrower must provide the lender with reporting documents.
The borrower is obliged to independently monitor the payment schedule. This means that you cannot blame the bank for not sending you a notification about the next payment, and therefore you did not deposit the money on time. The same applies to situations when you sent money, but it did not arrive in the account before the write-off date. Therefore, you need to make payments 3-5 days before the due date.
The bank has the right to assign its rights under the agreement to other financial institutions without the borrower's consent. Such decisions are usually resorted to if the borrower does not fulfill its obligations.
The borrower has the right to fully or partially refuse to receive belarus mobile database the loan before the date of its provision. To do this, you need to send a notice to the lender. Since the money is usually issued on the day of signing, this right is rarely used.
The borrower can terminate the agreement only if he has fully fulfilled his obligations, i.e. paid the entire amount of the debt. This is possible in three cases:
making all payments according to schedule;
early repayment of the loan;
refinancing in another bank.
The difference between refinancing and early repayment is only for the borrower. For the lender, these procedures are the same.
On the part of the financial institution, termination of the agreement is possible if the borrower does not fulfill his obligations, i.e. does not deposit funds into the credit account. Banks rarely resort to such a procedure in the case of a single violation; usually, this requires systematic delays or a complete refusal to repay the debt.
The bank first sends the borrower a demand for repayment with a warning about early termination of the agreement. If the borrower continues to refuse the obligations, the documents are sent to the court. After this, the creditor has the right to demand the return of the entire amount at once.