PAYMENT AGREEMENT
PARTIES
This Payment Agreement (hereinafter referred to as the "Agreement") is entered into on (the "Effective Date"), by and between:
Debtor:
Address:
Email:
Phone:
Creditor:
Address:
Email:
Phone:
AGREEMENT
The Parties agree that the Debtor is to pay the Creditor an amount of:
Amount (in currency):
The amount shall be set into a structured payment agreement as per the terms outlined below.
DEBTOR REPRESENTATION
The Debtor confirms that both parties have agreed upon a payment plan to fulfill the debt in a scheduled manner.
PAYMENT PLAN
Start Date of Payments:
Number of Installments:
Amount per Installment:
Payment Frequency:
DEFAULT
In case the Debtor fails to make payments within a reasonable time, the Creditor is entitled to declare the remaining balance and applicable interest immediately due and payable.
GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of:
Jurisdiction (State/Country):
SEVERABILITY
If any provision of this Agreement is found unenforceable by a court of law, the remaining provisions shall remain valid and enforceable according to the Parties' intent.
SIGNATURES
Debtor's Signature: ____________________ Date:
Creditor's Signature: ____________________ Date: