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1. Parties: Identification of the creditor and debtor, including full legal names, addresses, and registration details if companies
2. Background: Description of the original debt, its origin, and the circumstances leading to this partial payment arrangement
3. Definitions: Definition of key terms used throughout the agreement
4. Acknowledgment of Debt: Formal acknowledgment of the total amount owed and validation of the original debt
5. Payment Terms: Details of the partial payment arrangement, including payment amounts, frequency, and method of payment
6. Payment Schedule: Specific dates or intervals when payments are to be made and the amount of each payment
7. Interest: Terms regarding any interest applicable to the outstanding balance
8. Default Provisions: Consequences of missing payments and what constitutes a default
9. Representations and Warranties: Basic statements about the parties' capacity to enter into the agreement and the validity of the debt
10. Notices: How formal communications between parties should be made
11. Governing Law and Jurisdiction: Confirmation of German law as governing law and jurisdiction for disputes
1. Security: Details of any collateral or security provided to guarantee the payments - include if security is being provided
2. Early Payment Provisions: Terms for early repayment and any associated discounts - include if early payment options are offered
3. Third Party Guarantees: Details of any guarantors or third-party assurances - include if there are guarantors
4. Insurance Requirements: Any insurance requirements to protect the payment stream - include if insurance is required
5. Debt Forgiveness Terms: Conditions under which part of the debt may be forgiven - include if partial debt forgiveness is offered
6. Force Majeure: Provisions for unforeseen circumstances affecting payment ability - include for longer-term payment plans
7. Confidentiality: Terms regarding confidentiality of the arrangement - include if privacy is a concern
8. Assignment: Rights to assign the agreement to third parties - include if assignment rights are needed
1. Payment Schedule: Detailed schedule showing all payment dates, amounts, and running balance
2. Original Debt Documentation: Copies or summaries of documents evidencing the original debt
3. Security Documentation: Details and documentation of any security or collateral provided
4. Direct Debit Authorization: If applicable, the direct debit (Lastschrift) authorization forms
5. Guarantor Documents: If applicable, documents relating to third-party guarantees
6. Proof of Identity: Copies of identification documents for the parties
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Real Estate
Wholesale Trade
Education
Telecommunications
Utilities
Transportation and Logistics
Legal
Finance
Credit Control
Accounts Receivable
Treasury
Risk Management
Collections
Commercial Operations
Corporate Advisory
Debt Recovery
Credit Manager
Financial Controller
Accounts Receivable Manager
Collections Specialist
Legal Counsel
Finance Director
Account Manager
Risk Manager
Treasury Manager
Debt Recovery Officer
Commercial Director
Chief Financial Officer
Credit Risk Analyst
Business Development Manager
Corporate Lawyer
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