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The Employee Loan Agreement is a crucial document used when an employer in Hong Kong provides financial assistance to an employee through a formal loan arrangement. This agreement is particularly relevant in situations where employees require financial support for personal or professional development purposes, such as housing deposits, education fees, or emergency expenses. The document must comply with Hong Kong's Employment Ordinance, Money Lenders Ordinance, and relevant financial regulations. It typically includes detailed terms about the loan amount, interest rates, repayment schedule through salary deductions, early repayment options, and provisions for loan treatment upon employment termination. This agreement helps protect both parties' interests by clearly documenting the loan terms and ensuring legal enforceability.

1. Parties: Identifies the employer (lender) and employee (borrower) with full legal names and addresses

2. Background: Establishes the employment relationship and context for the loan

3. Definitions: Defines key terms used throughout the agreement

4. Loan Amount and Purpose: Specifies the principal amount of the loan and its intended purpose

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

6. Repayment Terms: Details the repayment schedule, method, and frequency of payments

7. Salary Deduction Authorization: Employee's authorization for loan repayment through salary deductions

8. Early Repayment: Terms and conditions for early repayment of the loan

9. Default and Consequences: Defines events of default and their consequences

10. Employment Termination: Impact of employment termination on loan repayment obligations

11. Representations and Warranties: Basic representations by both parties regarding capacity and authority

12. Governing Law and Jurisdiction: Specifies Hong Kong law as governing law and jurisdiction for disputes