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Acknowledgement of Debt – 2 or more debtors, payment in instalments

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Acknowledgement of Debt 2 or more debtors payment in instalments 1

Acknowledgement of Debt – 2 or more debtors, payment in instalments

stars Over 2,600 Happy South African Businesses

R 467,50

Agreement where multiple debtors acknowledge debt and agree to repay in instalments.

  • Distributes responsibility among debtors.
  • Provides clear repayment schedule.
  • Establishes legal documentation.
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Once your order is complete, you will be granted download permission for the document. You will:

  • See download links on the order received page after you have checked out.
  • Receive an email notification which will include download links.
  • Have access to your downloads via the Downloads tab on your ‘My Account’ page when logged in to your account on this website.
What format do you provide the document in?

You’ll receive the document in Microsoft Word. A small number of our documents are only available in PDF, in which case this is stated in the document summary.

What if I don't receive the link?

The two most common reasons for people not receiving the link are : (i) The e-mail address entered into the order form was incorrect; or (ii) the e-mail was directed into your spam folder. First please check your spam folder. If it is not there, contact us.

How can I tell if the document is suitable for my requirements?

Each document is accompanied by a description. Read the description to see if it will meet your requirements. If you are still uncertain, you can Contact Us with a brief overview of what you need the document for and we will respond as soon as possible.

Can I make changes to the contracts and legal documents?

Our documents are provided in MS Word format, allowing you to adjust and alter the agreement as you require. If you do not have legal experience we do caution you to be circumspect about the extent of the changes that you make.

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DEBT ACKNOWLEDGEMENT

2 or more Debtors, payment in instalments

Summary This Acknowledgement of Debt may be used where a debt is owed by two or more persons or legal entities, who are jointly liable for the same debt to the creditor. An Acknowledgement of Debt is a debt acknowledgement, used to acknowledge and confirm that the debt is due, and to specify that the debt is payable over several instalments.

View also: AOD, single payment

Why do I need an Acknowledgement of Debt? If you or your business has debtors that owe money, a Debt Acknowledgment may be used to specify the amount owed and the agreed payment terms. An AOD confirms that a debt is due, and sets out an undertaking by the Debtors to pay the debt in regular instalments at agreed intervals. If the debt is not paid as agreed, the creditor may use the Acknowledgement of Debt to take further action.

What does an AOD say? The template debt acknowledgement sets out: The Debtors’ details; The amount of the debt; The repayment details; Default and costs.

What does the template look like? The agreement can be printed onto three pages.

What do you need to do to use the Acknowledgement of Debt?

  • Read the sample Debt Acknowledgement document to ensure that it suits your requirements. Make changes as required.
  • Complete the relevant details, and get the Debtor to sign.

Only one debtor? View our AOD for a single debtor, in a single instalment, or multiple payments.

If this transaction is subject to the National Credit Act 34 of 2005 then a specialist’s advice should be sought.

Also known as: Payment Undertaking; AOD

The Online Agreements Shop cc and its members, staff, legal advisers, partners and consultants, agents and any person associated therewith cannot be held liable for any loss or damage that is incurred or may be incurred by any person as a direct or indirect result of the use of this website or any document or information contained on or obtained from this website, nor as a result of anything that is contained in or left out of any document.

How do I receive my documents once I have paid for them?

Once your order is complete, you will be granted download permission for the document. You will:

  • See download links on the order received page after you have checked out.
  • Receive an email notification which will include download links.
  • Have access to your downloads via the Downloads tab on your ‘My Account’ page when logged in to your account on this website.
What format do you provide the document in?

You’ll receive the document in Microsoft Word. A small number of our documents are only available in PDF, in which case this is stated in the document summary.

What if I don't receive the link?

The two most common reasons for people not receiving the link are : (i) The e-mail address entered into the order form was incorrect; or (ii) the e-mail was directed into your spam folder. First please check your spam folder. If it is not there, contact us.

How can I tell if the document is suitable for my requirements?

Each document is accompanied by a description. Read the description to see if it will meet your requirements. If you are still uncertain, you can Contact Us with a brief overview of what you need the document for and we will respond as soon as possible.

Can I make changes to the contracts and legal documents?

Our documents are provided in MS Word format, allowing you to adjust and alter the agreement as you require. If you do not have legal experience we do caution you to be circumspect about the extent of the changes that you make.

Trusted By 2,600+ Businesses

Legal Templates For All Industries

Legal Templates For All Industries

Backed By Legal Research

DEBT ACKNOWLEDGEMENT

2 or more Debtors, payment in instalments

Summary This Acknowledgement of Debt may be used where a debt is owed by two or more persons or legal entities, who are jointly liable for the same debt to the creditor. An Acknowledgement of Debt is a debt acknowledgement, used to acknowledge and confirm that the debt is due, and to specify that the debt is payable over several instalments.

View also: AOD, single payment

Why do I need an Acknowledgement of Debt? If you or your business has debtors that owe money, a Debt Acknowledgment may be used to specify the amount owed and the agreed payment terms. An AOD confirms that a debt is due, and sets out an undertaking by the Debtors to pay the debt in regular instalments at agreed intervals. If the debt is not paid as agreed, the creditor may use the Acknowledgement of Debt to take further action.

What does an AOD say? The template debt acknowledgement sets out: The Debtors’ details; The amount of the debt; The repayment details; Default and costs.

What does the template look like? The agreement can be printed onto three pages.

What do you need to do to use the Acknowledgement of Debt?

  • Read the sample Debt Acknowledgement document to ensure that it suits your requirements. Make changes as required.
  • Complete the relevant details, and get the Debtor to sign.

Only one debtor? View our AOD for a single debtor, in a single instalment, or multiple payments.

If this transaction is subject to the National Credit Act 34 of 2005 then a specialist’s advice should be sought.

Also known as: Payment Undertaking; AOD

The Online Agreements Shop cc and its members, staff, legal advisers, partners and consultants, agents and any person associated therewith cannot be held liable for any loss or damage that is incurred or may be incurred by any person as a direct or indirect result of the use of this website or any document or information contained on or obtained from this website, nor as a result of anything that is contained in or left out of any document.

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