An Agreement To Pay Rent Arrears is utilized when a tenant has fallen behind on rental payments and both parties wish to formalize a repayment arrangement. This document, governed by Singapore law, serves as a legally binding commitment to settle outstanding rent through an agreed payment schedule. It should be used when there's a clear acknowledgment of debt and willingness to establish a structured repayment plan. The agreement typically includes details of the original tenancy, exact amount of arrears, payment terms, and consequences of default, providing security for the landlord while giving the tenant a manageable way to clear their debt.
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1. Parties: Identification of landlord and tenant with full legal names and addresses
2. Background: Details of original tenancy agreement and circumstances leading to arrears
3. Definitions: Key terms used in the agreement
4. Acknowledgment of Debt: Formal recognition of the amount owed
5. Payment Terms: Detailed payment schedule including amounts and due dates
6. Default Provisions: Consequences of failing to meet payment obligations
7. Execution: Signature blocks and witnessing requirements
1. Interest Provisions: Additional section specifying interest charges on arrears and calculation method
2. Security Provisions: Details of any security or guarantee provided for ensuring payment compliance
3. Costs Recovery: Provisions for recovery of legal or administrative costs associated with arrears collection
1. Schedule 1 - Payment Schedule: Detailed breakdown of payment installments with dates
2. Schedule 2 - Statement of Arrears: Itemized statement showing how arrears accumulated
3. Appendix A - Original Tenancy Agreement: Copy of the relevant tenancy agreement
4. Appendix B - Statement of Account: Current account statement showing outstanding amounts
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