Debt Acknowledgement & Payment Plan

DATE: [DD MONTH YYYY]

PARTIES
(1) [PARTY A LEGAL NAME], company number [NUMBER], whose registered office is [ADDRESS] (Party A); and
(2) [PARTY B LEGAL NAME], company number [NUMBER], whose registered office is [ADDRESS] (Party B).

Each signatory confirms authority to bind the relevant party.

1. ACKNOWLEDGEMENT
The Debtor acknowledges that [AMOUNT] [GBP / EUR / USD] is due to the Creditor as at [DATE] under the invoices listed in Schedule 1 [SUBJECT TO ANY EXPRESSLY RECORDED DISPUTE OR CREDIT].

2. PAYMENT PLAN
The Debtor shall pay the instalments in Schedule 1 by bank transfer using the stated reference. Payment is received when cleared funds reach the Creditor's account.

3. INTEREST AND CHARGES
[NO FURTHER INTEREST ACCRUES WHILE PAYMENTS ARE TIMELY / INTEREST ACCRUES AT THE LAWFUL AGREED RATE]. Delete unsupported charges and check applicable law.

4. SUSPENSION OF COLLECTION
While the Debtor pays on time, the Creditor will not begin new collection proceedings for the scheduled debt, without waiving rights if default occurs.

5. DEFAULT
If a payment remains unpaid for [NUMBER] days after written notice, the remaining balance becomes [IMMEDIATELY DUE / SUBJECT TO RENEGOTIATION] to the extent lawful.

6. NO RELEASE UNTIL PAYMENT
The debt is discharged only when all cleared payments are received, unless the Creditor expressly agrees a written full-and-final settlement.

7. INFORMATION AND AUTHORITY
Each party confirms authority and that the invoice and payment information stated is accurate to its knowledge. This agreement does not conceal insolvency or prevent required professional advice.

SCHEDULE 1 — DEBT AND INSTALMENTS
Invoices / credit notes: [REFERENCES, DATES, AMOUNTS]
Agreed opening balance: [AMOUNT / CURRENCY]
Instalment 1: [AMOUNT / DATE]
Instalment 2: [AMOUNT / DATE]
Continue as required.
Final payment: [AMOUNT / DATE]
Account / IBAN: [DETAIL]
SWIFT / BIC: [CODE]
Payment reference: [REFERENCE]

GENERAL
Notices must be sent to the addresses and emails stated in Schedule 2. Neither party may assign this agreement without written consent, except as expressly agreed. This agreement and its schedules contain the entire agreement on its subject. A variation must be signed by authorised representatives. If a provision is invalid, the remainder continues. Delay in enforcement is not a waiver. No third party has a right to enforce this agreement unless stated.

GOVERNING LAW AND DISPUTES
This agreement is governed by the law of England and Wales [CHANGE IF REQUIRED]. The courts of England and Wales have exclusive jurisdiction [OR INSERT AGREED ARBITRATION / MEDIATION PROCESS].

SIGNATURES
For Party A: [NAME / TITLE / SIGNATURE / DATE]
For Party B: [NAME / TITLE / SIGNATURE / DATE]

SCHEDULE 2 — NOTICES AND PAYMENT
Party A notice email: [EMAIL]
Party B notice email: [EMAIL]
Payment currency: [GBP / EUR / USD]
Account name: [LEGAL NAME]
Account / IBAN: [DETAILS]
SWIFT / BIC: [CODE]
Payment reference: [REFERENCE]