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An Agreement Letter For Partial Payment is commonly used when a debtor cannot fulfill their entire payment obligation immediately and seeks to establish a formal arrangement for structured payments. Under English and Welsh law, this document provides legal certainty by clearly stating the original debt amount, agreed payment terms, and consequences of default. It's particularly valuable in commercial relationships, debt restructuring, and financial settlements, offering protection to both creditor and debtor while maintaining the enforceability of the debt obligation.

1. Original Debt Amount: Statement of the total original debt amount and its origin

2. Current Outstanding Balance: Clear statement of the current amount owed as of the agreement date

3. Payment Terms: Detailed specification of agreed payment amount, frequency, and payment method

4. Payment Schedule: Specific timeline and dates for scheduled payments

5. Acknowledgment of Debt: Formal acknowledgment of the debt by the debtor and agreement to the payment terms