Writing the Client Debt Compromise Contract document
AGREEMENT TO COMPROMISE DEBT
Terms and Conditions
FOR VALUE RECEIVED, Company Name ("the Undersigned") and Company Name (hereafter referred to as "Company") hereby enter into an agreement this Current Day day of Current Month, Current Year to compromise and reduce any indebtedness due to Company by the undersigned on the following terms and conditions:
The Undersigned and Company acknowledge that the present debt due between each party is Insert Dollar Amount Owed US Equivalent. The parties agree that Company shall accept the sum of Insert Dollar Amount to be Accepted US Equivalent as full and total payment on said debt and in complete discharge of all monies presently due. By depositing or cashing the enclosed payment, Company agrees to the above terms and any and all debt between Company and the Undersigned or a agent thereof is considered PAID IN FULL.
If Company or any agent thereof does not agree with ALL of the above terms, then the payment is to be disposed of and is to be considered null and void.
Each party represents and warrants that, on the date first written above, they are authorized to enter into this Agreement in entirety and duly bind their respective principals by their signature below: