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A simple loan agreement template can come in handy when you need to document a loan agreement between two parties in Hong Kong. A loan agreement is a legal document that outlines the details of a loan, including the repayment terms, interest rates, and other important information. A well-drafted loan agreement can help both parties avoid misunderstandings and disputes.

Here are some things to consider when creating a simple loan agreement template in Hong Kong:

1. Identify the parties involved: The loan agreement should clearly identify both the lender and the borrower. This includes their legal names and addresses.

2. Define the loan amount: The loan agreement should state the exact amount of money being lent to the borrower.

3. Set the repayment terms: The agreement should outline the repayment terms, including the frequency of payments (monthly, weekly, etc.), the amount of each payment, and the due date for each payment. It should also state the consequences of late or missed payments.

4. Determine the interest rate: The agreement should clearly state the interest rate being charged on the loan. In Hong Kong, the legal maximum interest rate is 60% per annum, but most loans have lower interest rates.

5. Decide on any additional fees: The agreement should also state if there are any additional fees associated with the loan, such as an origination fee or late payment fee.

6. Draft a personal guarantee: The loan agreement should include a personal guarantee from the borrower, which promises that they will repay the loan.

7. Include a default clause: The agreement should include a default clause, which specifies what will happen if the borrower fails to repay the loan according to the terms of the agreement.

By following these guidelines, you can create a simple loan agreement template that will help you document your loan agreement in Hong Kong. It`s always a good idea to have an experienced attorney review your loan agreement to ensure that it complies with all legal requirements and protects your interests. Remember, a well-crafted loan agreement can save you a lot of hassle and legal fees down the road.