It's purely a sale agreement dated on the loan maturity/repayment date. If the customer doesn't pay, they forfeit the mortgaged item and you get legit title to the it
In Uganda borrowers sign a postdated sale contract of the security item, or issue a post dated cheque with the loan maturity date. NB it's a criminal offense to issue a bouncing cheque in Uganda
Ni ujinga ama ni desperation? This could be more risky than engaging in armed robbery....... Not that I support robbery, am just factoring the risk levels involved