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Non-receipt of the demand note for repayment does not exempt a loan recipient from the requirement to settle the instalment due on or before the due date; if the settlement is delayed by 7 days or more, you will be required to settle with the Government the amount of the overdue instalment together with a surcharge of 5% thereof and any recovery costs incurred by the Government due to the late payment. |
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Default in repayment may give cause for legal proceedings against you / your indemnifier(s) by the Government for the recovery of the outstanding grant(s) / loan(s) and interest plus surcharge and any recovery costs incurred by the Government. |