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1. Parties: Identification of the creditor and debtor, including full legal names, addresses, and registration details if companies
2. Background: Details of the original debt, including reference to original agreements, current outstanding amount, and circumstances leading to the pay off arrangement
3. Definitions: Key terms used throughout the agreement, including 'Outstanding Amount', 'Settlement Sum', 'Payment Date', etc.
4. Acknowledgment of Debt: Formal acknowledgment of the original debt amount and current outstanding balance
5. Settlement Terms: Detailed terms of the settlement, including the agreed settlement amount and any discount from the original debt
6. Payment Terms: Specific payment arrangements including amount, timing, and method of payment
7. Release and Discharge: Terms of release and discharge of the debtor upon completion of the settlement payment
8. Representations and Warranties: Standard representations about capacity to enter agreement and accuracy of information
9. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes
1. Security Arrangements: Include when the settlement is secured by assets or guarantees
2. Third Party Guarantor: Required when a guarantor is providing additional security for the settlement
3. Default Provisions: Include when there are specific consequences for defaulting on the settlement terms
4. Confidentiality: Include when parties wish to keep the settlement terms confidential
5. Tax Implications: Include when there are specific tax consequences to be addressed
6. Insurance Requirements: Include when specific insurance must be maintained during the settlement period
7. Assignment Rights: Include when either party needs the right to assign the agreement
1. Schedule 1 - Debt Calculation: Detailed breakdown of the original debt, interest, charges, and final settlement amount
2. Schedule 2 - Payment Schedule: If multiple payments, detailed schedule of payment dates and amounts
3. Schedule 3 - Original Loan Agreement: Copy or details of the original agreement giving rise to the debt
4. Schedule 4 - Security Details: If applicable, details of any security or collateral provided
5. Appendix A - Supporting Documents: Copies of relevant supporting documentation such as statements or correspondence
6. Appendix B - Authorization Documents: Corporate authorizations, power of attorney, or other authority documents if required
Banking & Financial Services
Real Estate
Construction
Manufacturing
Retail
Healthcare
Hospitality
Professional Services
Trading & Distribution
Technology
Telecommunications
Legal
Finance
Credit Control
Collections
Risk Management
Treasury
Compliance
Corporate Affairs
Accounts Receivable
Debt Recovery
Business Development
Chief Financial Officer
Finance Manager
Credit Controller
Collections Manager
Legal Counsel
Debt Recovery Specialist
Treasury Manager
Risk Manager
Accounts Receivable Manager
Corporate Lawyer
Compliance Officer
Financial Controller
Business Development Manager
Relationship Manager
Settlement Officer
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