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I am about to loan someone in Tanzania US$22,000 to buy a vehicle, to…

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I am about to loan...
I am about to loan someone in Tanzania US$22,000 to buy a vehicle, to be repaid monthly over 4 years, to me in Australia. He has no assets but has two friends willing to guarantee the loan, half each, ie. US$11,000. Can you provide me with an appropriate loan agreement? Other provisions would include that the vehicle be properly maintained and fully insured.
Submitted: 2 years ago.Category: Business Law
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Answered in 6 minutes by:
7/1/2015
Business Lawyer: Loren, Attorney replied 2 years ago
Loren
Loren, Attorney
Category: Business Law
Satisfied Customers: 38,267
Experience: 30 years experience representing clients .
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Good evening. I am Loren, a licensed attorney, and I look forward to assisting you.
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Business Lawyer: Loren, Attorney replied 2 years ago
How would you enforce a loan agreement against a resident of Tanzania?
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Customer reply replied 2 years ago
In Australia I would refer the matter to Victorian Civil and Administrative Tribunal which settles commercial disputes. Simpler and cheaper than a court, parties can represent themselves, no need for lawyers. Not sure whether there is an equivalent in Tanzania, so it might need to be dealt with by me engaging a lawyer to apply to a formal court for an order to pay. I was hoping that you would know.
Business Lawyer: Loren, Attorney replied 2 years ago
How would an Australian court have jurisdiction in Tanzania?
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Customer reply replied 2 years ago
No, not an Australian court, I meant engaging a Tanzanian lawyer to apply to a Tanzanian court.
Business Lawyer: Loren, Attorney replied 2 years ago
I do not have any Tanzanian forms. So, I will opt out.
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Business Lawyer: Loren, Attorney replied 2 years ago
I have opted out. No need to reply as it will delay the question being addressed by another JA expert.
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Loren
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