All Countries
Banking
Debt Release Agreement

Debt Release Agreement Template for Netherlands

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Debt Release Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Debt Release Agreement

"I need a Debt Release Agreement for my company (ABC Manufacturing BV) to release a €500,000 debt owed by our subsidiary, conditional upon them meeting certain performance targets by March 2025 and maintaining minimum revenue requirements."

Celebrated by
Collaborations with
Investors
Document background
The Debt Release Agreement is a crucial document used in situations where a creditor agrees to forgive or release a debtor from their obligation to repay a debt, either partially or in full. This type of agreement is commonly used in debt restructuring, financial settlements, or as part of broader corporate reorganizations. Under Dutch law, particular attention must be paid to the requirements of the Dutch Civil Code (Burgerlijk Wetboek) regarding the termination of obligations and the formal requirements for valid contracts. The document should clearly identify the debt being released, any conditions attached to the release, and address potential tax implications for both parties. It's especially important in the Netherlands to consider tax consequences as debt forgiveness may be treated as taxable income for the debtor.
Suggested Sections

1. Parties: Identification of the creditor and debtor, including full legal names, addresses, and registration details if companies

2. Background: Description of the existing debt relationship, original agreements, and circumstances leading to the debt release

3. Definitions: Definitions of key terms used in the agreement, including 'Debt', 'Release Date', and other relevant terms

4. Debt Acknowledgment: Clear statement of the existing debt amount and its origin

5. Release: Core provisions detailing the release of debt, including the amount being released and effective date

6. Tax Implications: Acknowledgment of potential tax consequences and responsibility for any tax liabilities

7. Representations and Warranties: Basic warranties about authority to enter agreement and understanding of its implications

8. Governing Law and Jurisdiction: Specification of Dutch law as governing law and jurisdiction for disputes

9. Execution: Signature blocks and execution requirements under Dutch law

Optional Sections

1. Partial Release Provisions: Required when only part of the debt is being released, specifying remaining obligations

2. Conditions Precedent: Include when the release is subject to certain conditions being met

3. Confidentiality: Required when parties wish to keep the debt release confidential

4. Related Party Provisions: Include when the debt release affects guarantors or other related parties

5. Future Cooperation: Include when parties need to specify ongoing obligations or cooperation requirements

6. Settlement Terms: Required when the release is part of a broader settlement agreement

7. Corporate Authority: Include when either party is a corporate entity requiring specific authorization provisions

Suggested Schedules

1. Original Debt Documentation: Copies or details of the original agreements or documents creating the debt

2. Debt Calculation Statement: Detailed calculation of the debt amount being released, including any interest or charges

3. Corporate Resolutions: If required, corporate resolutions authorizing the debt release

4. Tax Certificates: Any relevant tax documentation or certificates required for the release

5. Payment History: If relevant, schedule showing payment history and remaining balance

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Original Debt
Release Date
Effective Date
Creditor
Debtor
Released Amount
Remaining Debt
Original Agreement
Business Day
Completion
Conditions Precedent
Default
Encumbrance
Group
Guarantor
Loan
Material Adverse Effect
Original Facility Agreement
Party/Parties
Release
Related Rights
Security
Tax
Working Day
Affiliates
Confidential Information
Representatives
Signing Date
Subsidiary
Outstanding Balance
Release Period
Governing Law
Dutch Civil Code
Dispute
Representations
Warranties
Relevant Industries

Financial Services

Banking

Real Estate

Construction

Manufacturing

Retail

Professional Services

Technology

Healthcare

Energy

Agriculture

Transportation

Hospitality

Education

Non-profit Organizations

Relevant Teams

Legal

Finance

Treasury

Credit Control

Accounts Receivable

Risk Management

Corporate Affairs

Tax

Compliance

Debt Recovery

Relevant Roles

Chief Financial Officer

Financial Director

Credit Manager

Debt Recovery Officer

Legal Counsel

Corporate Lawyer

Finance Manager

Accounts Receivable Manager

Treasury Manager

Risk Manager

Insolvency Practitioner

Collections Manager

Financial Controller

Business Recovery Specialist

Industries
Dutch Civil Code Book 6 (Burgerlijk Wetboek Boek 6): Contains general provisions on obligations and contracts, including rules on debt release, settlement, and termination of obligations
Dutch Civil Code Book 3 (Burgerlijk Wetboek Boek 3): Covers property law and general principles of legal acts, including requirements for valid legal documentation
Dutch Income Tax Act 2001 (Wet inkomstenbelasting 2001): Regulates tax implications of debt forgiveness for individual debtors, as debt release may be considered taxable income
Dutch Corporate Income Tax Act 1969 (Wet op de vennootschapsbelasting 1969): Governs tax implications for corporate entities in case of debt forgiveness
Dutch Bankruptcy Act (Faillissementswet): Relevant if the debt release is part of a broader debt restructuring or if there are insolvency considerations
Dutch Civil Code Book 2 (Burgerlijk Wetboek Boek 2): Contains provisions relevant when the debtor is a legal entity, including corporate authority requirements
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Installment Plan Contract

Dutch law-governed Installment Plan Contract for structured periodic payments, compliant with local financial regulations and consumer protection laws.

find out more

Rent Payment Contract

A Dutch law-compliant contract establishing payment terms and conditions between landlord and tenant for rental property in the Netherlands.

find out more

Paid Agreement

Dutch law-governed agreement establishing terms for paid provision of goods or services, incorporating Dutch Civil Code requirements.

find out more

Personal Loan Payment Agreement

A Dutch law-governed agreement establishing terms and conditions for a personal loan between lender and borrower, including loan amount, interest, and repayment terms.

find out more

Loan Payment Agreement Letter

A Dutch law-governed letter agreement outlining loan repayment terms and conditions between lender and borrower.

find out more

Money Contract

A Dutch law-governed agreement establishing terms for monetary obligations, including payment terms, interest, and default provisions.

find out more

Agreement For Partial Payment

A Dutch law-governed agreement establishing terms for partial payment of existing debt through structured installments.

find out more

Payment Agreement Contract For Car Accident

A Dutch law-governed payment agreement contract that establishes settlement terms and payment schedules between parties involved in a car accident.

find out more

Contract For Payment Of Services

Dutch law-governed agreement establishing terms for service provision and payment arrangements between service providers and clients.

find out more

Debt Release Agreement

A Dutch law-governed agreement documenting the release of debt obligations by a creditor, specifying terms, conditions, and implications of the debt forgiveness.

find out more

Simple Royalty Agreement

A Dutch law-governed agreement establishing terms for royalty payments in exchange for intellectual property rights usage.

find out more

Collection Payment Agreement Letter

A Dutch-law governed formal letter establishing payment arrangements for outstanding debts, including payment terms and collection conditions.

find out more

Employee Repayment Agreement

A Dutch law-compliant agreement establishing terms for employee repayment of training/education costs if leaving employment within a specified period.

find out more

Freelance Payment Contract

Dutch law-governed payment contract establishing terms and conditions for freelance service payments, ensuring compliance with local regulations and DBA law.

find out more

Undertaking Letter For Commission Payment

A Dutch law-governed formal undertaking that commits one party to pay commission to another under specified terms and conditions.

find out more

Recurring Payment Agreement

Dutch law-governed agreement establishing terms for automated recurring payment arrangements, compliant with PSD2 and SEPA regulations.

find out more

Rental Agreement Advance Payment

Dutch-law compliant rental agreement template with advance payment provisions, suitable for both residential and commercial properties in the Netherlands.

find out more

Payment Schedule Agreement

A Dutch law-governed agreement establishing structured payment terms and conditions between parties, detailing payment schedules, interest rates, and default provisions.

find out more

Non Payment Agreement

A Dutch law agreement documenting terms under which a creditor agrees to temporarily suspend or modify payment obligations from a debtor.

find out more

Independent Contractor Payment Agreement

Dutch law-governed agreement establishing payment terms and conditions between a client and independent contractor, ensuring regulatory compliance and clear contractor status.

find out more

Down Payment Contract

A Dutch law-governed contract establishing terms for advance partial payment towards purchase of goods or services, including payment schedule and party obligations.

find out more

Commitment Letter To Pay Debt

A Dutch law-governed formal letter documenting a debtor's legally binding commitment to pay a specified debt amount to a creditor, including payment terms and conditions.

find out more

Advance Payment Contract

Dutch law-governed contract establishing terms and conditions for advance payments, including security measures and refund provisions.

find out more

Voluntary Payment Agreement

A Dutch law agreement establishing voluntary payment terms between creditor and debtor for structured debt repayment.

find out more

Prepayment Agreement

Dutch law-governed agreement establishing terms and conditions for advance payments, including security arrangements and party obligations.

find out more

Payment Undertaking Agreement

A Dutch law-governed agreement establishing a formal commitment to make specified payments under defined conditions.

find out more

Payment Guarantee Agreement

A Dutch law-governed agreement where a Guarantor ensures payment obligations of a Principal Debtor to a Beneficiary.

find out more

Pay Settlement Agreement

A Dutch law agreement documenting financial settlement terms between employer and employee, typically used in employment termination or dispute resolution.

find out more

Partial Rent Payment Agreement

A Dutch law agreement that formalizes arrangements for partial rent payments between landlord and tenant, modifying the original lease's payment terms while maintaining other conditions.

find out more

Partial Payment Contract

A Dutch law agreement establishing structured installment payments for settling an existing debt, compliant with the Burgerlijk Wetboek.

find out more

Loan Repayment Agreement Between Friends

A Dutch law-governed agreement documenting loan terms and repayment conditions between friends, ensuring legal protection while maintaining the informal nature of the arrangement.

find out more

Letter Of Repayment Agreement

A Dutch law-governed document establishing debt repayment terms and conditions between parties, creating legally binding repayment obligations.

find out more

Invoicing Agreement

A Dutch law-governed agreement establishing invoicing terms, requirements, and procedures between parties, ensuring compliance with local regulations and tax requirements.

find out more

Deferred Payment Contract

A Dutch law-governed contract establishing terms and conditions for delayed or installment payments, including payment schedules, interest, and default provisions.

find out more

Deferment Agreement

A Dutch law-governed agreement that formally establishes new payment terms and conditions for existing debt obligations.

find out more

Contract For Installment Payments

Dutch law-governed agreement establishing structured installment payments between creditor and debtor, detailing payment terms and obligations.

find out more

Car Payment Agreement Between Friends

A Dutch law-governed agreement for private vehicle sale between friends with structured payment terms, incorporating vehicle transfer and payment obligations.

find out more

Agreement Letter For Installment Payment

A Dutch law-compliant letter agreement establishing terms for debt repayment through scheduled installments, including payment plan, interest, and default provisions.

find out more

Agreement For Installment Payment

A Dutch law-compliant agreement establishing terms for debt repayment through scheduled installment payments.

find out more

Earnout Agreement

A Dutch law agreement governing post-acquisition performance-based payments to sellers, defining metrics, calculations, and payment conditions.

find out more

Layaway Agreement

A Dutch law-compliant agreement allowing customers to purchase items through installment payments while the merchant retains possession until full payment.

find out more

Land Installment Agreement

A Dutch law-governed agreement for the purchase of land through scheduled installment payments, with eventual transfer of title upon completion of payments.

find out more

Contract For Repayment Of Debt

A Dutch law agreement establishing terms and conditions for debt repayment, including payment schedules, interest, and default provisions.

find out more

Commitment Letter For Payment

A Dutch law-governed formal document establishing a binding commitment to make specified payment(s), including payment terms and conditions.

find out more

Repayment Contract Agreement

A Dutch law-governed agreement establishing debt repayment terms between creditor and debtor, including payment schedule and default provisions.

find out more

Third Party Payment Agreement

A Dutch law-governed agreement establishing terms for third-party payment arrangements, defining rights and obligations of the payor, original debtor, and beneficiary.

find out more

Car Payment Contract

A Dutch law-governed contract establishing terms and conditions for vehicle financing and purchase, including payment terms and ownership provisions.

find out more

Debt Repayment Agreement

A Dutch law-governed agreement establishing terms and conditions for debt repayment between creditor and debtor.

find out more

Agreement For Deposit Payment

A Dutch law-governed agreement establishing terms and conditions for deposit payment arrangements, including payment terms and release conditions.

find out more

Promise To Pay Contract

A Dutch law-governed agreement documenting a debtor's formal commitment to pay a specified amount to a creditor, including payment terms and obligations.

find out more

Payment Plan Contract

A Dutch law-governed contract establishing structured payment arrangements between parties, detailing payment terms, schedules, and obligations.

find out more

Loan Repayment Agreement

A Dutch law-governed agreement setting out terms and conditions for loan repayment, including payment schedule, interest rates, and default provisions.

find out more

Preauthorized Debit Form

A Dutch-compliant SEPA direct debit authorization form allowing creditors to collect payments directly from customer bank accounts under Netherlands banking regulations.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.