8. If a loan periode expires I do wait 20% of loan periode, if not the collateral become mine.
I'm worried about what this means; It makes zero sense.
If you read the whole thread (which takes less than 3 minutes, if you were even bothered to read), you would have found the answer provided by the OP -_-.
An explanation for 8th point. If the loan is for 5 days and you do not pay on repayment day, 20% of 5 days means 1 day. After 1 day I will keep the collateral.
In other words, he means if the loan period is five days (for example), after these 5 days, he will wait 1 day (.2*5 days = 1 day), and then take the collateral for himself.