What happens when someone doesn't repay the loan under the agreed upon terms?

If the borrower fails to make the loan payment in full by the due date, Liqd platform will provide the lender an option (through Foreclose button) to initiate transferring the NFT from escrow to the lender's wallet, thereby updating its ownership. Borrower, in this case, will lose ownership of their NFT and lender becomes the new owner.

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