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Agreement For Partial Payment
"I need an Agreement For Partial Payment for a €50,000 business debt to be paid in monthly installments over 18 months starting March 2025, with a higher final balloon payment and including provisions for early repayment discounts."
1. Parties: Identification of the creditor and debtor, including full legal names, addresses, and registration details if applicable
2. Background: Context of the original debt, acknowledgment of the amount owed, and reason for the partial payment arrangement
3. Definitions: Key terms used throughout the agreement, including 'Original Debt', 'Payment Schedule', 'Due Dates', etc.
4. Acknowledgment of Debt: Formal acknowledgment of the total amount owed and validation of the original debt
5. Payment Terms: Detailed description of the partial payment arrangement, including amount, frequency, and method of payments
6. Payment Schedule: Specific dates and amounts for each installment payment
7. Default Provisions: Consequences of missing payments or breaching the agreement terms
8. Interest and Costs: Any applicable interest rates and additional costs
9. Communications: How parties will communicate regarding payments and issues
10. Governing Law and Jurisdiction: Confirmation of Dutch law application and jurisdiction for disputes
1. Security Provisions: Include when additional security or collateral is provided for the debt
2. Third-Party Guarantees: Include when a third party is guaranteeing the payments
3. Early Payment Provisions: Include when early payment options or discounts are offered
4. Debt Forgiveness Terms: Include when part of the debt will be forgiven upon successful completion of the payment schedule
5. Force Majeure: Include when parties want to address circumstances that might prevent payment execution
6. Confidentiality: Include when parties wish to keep the arrangement private
7. Tax Implications: Include when there are specific tax consequences to be addressed
8. Insurance Requirements: Include when insurance is required to secure the payments
1. Schedule A - Payment Schedule: Detailed table of payment dates, amounts, and running balance
2. Schedule B - Original Debt Documentation: Copies or references to original debt documents
3. Schedule C - Payment Methods: Details of accepted payment methods and banking information
4. Appendix 1 - Proof of Identity: Copies of identification documents of parties
5. Appendix 2 - Authorization Documents: Any required authorization or power of attorney documents
6. Appendix 3 - Security Documentation: If applicable, documentation relating to any security or collateral provided
Authors
Original Debt
Outstanding Amount
Payment Schedule
Installment Payment
Due Date
Business Day
Default
Event of Default
Interest Rate
Default Interest Rate
Original Contract
Effective Date
Payment Method
Creditor
Debtor
Parties
Security
Guarantor
Force Majeure Event
Notice
Banking Day
Permitted Payment Currency
Settlement Date
Grace Period
Original Payment Terms
Modified Payment Terms
Payment Evidence
Governing Law
Confidential Information
Financial Services
Banking
Retail
Manufacturing
Construction
Professional Services
Healthcare
Real Estate
Education
Telecommunications
Utilities
Technology
Hospitality
Transportation
Legal
Finance
Accounts Receivable
Credit Control
Treasury
Risk Management
Collections
Commercial Operations
Contract Administration
Debt Recovery
Credit Controller
Financial Manager
Accounts Receivable Manager
Collections Specialist
Legal Counsel
Finance Director
Credit Risk Manager
Treasury Manager
Debt Recovery Officer
Contract Administrator
Chief Financial Officer
Accounts Manager
Business Development Manager
Commercial Director
Risk Management Officer
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