Payment Agreement Template Signaturely

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PAYMENT AGREEMENT

PARTIES
- This Payment Agreement (hereinafter referred to as the “Agreement”) is entered into on
________________ (the “Effective Date”), by and between ________________________,
with an address of ________________ (hereinafter referred to as the “Debtor”), and
________________, with an address of ________________ (hereinafter referred to as the
“Creditor”) (collectively referred to as the “Parties”).

AGREEMENT
- The Parties agree that the Debtor is to pay the Creditor an amount of ________________

- The Parties agree to secure the amount of debt by entering into a new agreement where the
amount of ________________ mentioned above is to be set into a structured payment
agreement according to the terms and conditions provided below.

DEBTOR REPRESENTATION
- The Debtor warrants as well as represents that the Parties have agreed upon a payment plan
to secure the deficiency in a scheduled manner as set forth in this Agreement.

PAYMENT PLAN
- The Parties agree to establish the payment plan as follows:
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________

DEFAULT
- In case the Debtor fails to provide the payments as per the payment plans within a reasonable
time, the Creditor becomes entitled to declare the remaining amount and the present Interest,
if any, immediately due and payable.

GOVERNING LAW
- This Agreement shall be governed by and construed in accordance with the laws of
________________.
SEVERABILITY
- In an event where any provision of this Agreement is found to be void and unenforceable by
a court of competent jurisdiction, then the remaining provisions will remain to be enforced in
accordance with the Parties’ intention.
DISPUTE RESOLUTION
- Any dispute or difference whatsoever arising out of or in connection with this Agreement
shall be submitted to ________________ (Arbitration/mediation/negotiation) in accordance
with, and subject to the laws of ________________.

ENTIRE AGREEMENT
- This Agreement contains the entire Agreement and understanding among the Parties hereto
with respect to the subject matter hereof, and supersedes all prior agreements,
understandings, inducements and conditions, express or implied, oral or written, of any
nature whatsoever with respect to the subject matter hereof. The express terms hereof control
and supersede any course of performance and/or usage of the trade inconsistent with any of
the terms hereof.
AMENDMENTS
- The Parties agree that any amendments made to this Agreement must be in writing where
they must be signed by both Parties to this Agreement.
- As such, any amendments made by the Parties will be applied to this Agreement.

SIGNATURE AND DATE


- The Parties hereby agree to the terms and conditions set forth in this Agreement and such is
demonstrated throughout by their signatures below:

CREDITOR DEBTOR

Name:____________________________ Name:____________________________
Signature:_________________________ Signature:_________________________
Date:_____________________________ Date:_____________________________

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