Common use of Notice to Borrowers Clause in Contracts

Notice to Borrowers. While written communications, telephonic reminders or visits by the RCFL's representatives to the borrowers place or residence will be used as loan follow up measures. RCFL will not initiate repossession of the assets without giving due notice in writing. The minimum time that would be given to the borrower to pay all dues would be 7 (seven) days failing which RCFL would proceed to take possession of the asset. However, if the borrower deliberately avoids acknowledging or establishing contact with RCFL then RCFL will be free to proceed with the repossession of the asset/s.

Notice to Borrowers. While written communications, telephonic reminders or visits by the RCFL's representatives to the borrowers Borrower's place or residence will be used as loan follow up measures. RCFL will not initiate repossession of the assets Asset without giving due notice in writing. The minimum time that would be given to the borrower Borrower to pay all dues would be 7 (seven7(seven) days failing which RCFL would proceed to take possession of the assetAsset. However, if the borrower Borrower deliberately avoids acknowledging or establishing contact with RCFL then RCFL will be free to proceed with the repossession of the asset/s.Asset.

Notice to Borrowers. While written communications, telephonic reminders or visits by the RCFL's representatives to the borrowers place or residence will be used as loan follow up measures. RCFL will not initiate repossession of the assets without giving due notice in writing. The minimum time that would be given to the borrower to pay all dues would be 7 (seven) days failing which RCFL would proceed to take possession of the asset. However, if the borrower Borrower deliberately avoids acknowledging or establishing contact with RCFL then RCFL will be free to proceed with the repossession of the asset/s.