All Countries
Banking
Contract For Payment Agreement

Contract For Payment Agreement Template for Belgium

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Contract For Payment Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Contract For Payment Agreement

"I need a Contract For Payment Agreement under Belgian law for my manufacturing company to pay €250,000 to our supplier in monthly installments starting March 2025, with early payment options and default interest provisions."

Celebrated by
Collaborations with
Investors
Document background
The Contract For Payment Agreement is a crucial legal instrument in Belgian business and financial transactions, used when parties need to formalize payment obligations and establish clear repayment terms. This document is particularly relevant in situations involving debt restructuring, installment payments, or the settlement of outstanding obligations. It must comply with Belgian civil and commercial law requirements, including regulations on interest rates, payment terms, and debt collection. The agreement can be used in both business-to-business and business-to-consumer contexts, with additional consumer protection requirements applying to the latter. The document typically includes detailed payment schedules, interest calculations, default provisions, and remedies, all structured within the framework of Belgian legal requirements and EU directives on payment terms.
Suggested Sections

1. Parties: Identification and details of all parties to the agreement, including full legal names, addresses, and registration numbers for companies

2. Background: Context of the debt or payment obligation, including origin of the debt and current status

3. Definitions: Definitions of key terms used throughout the agreement

4. Payment Amount and Currency: Clear statement of the total amount owed and the currency of payment

5. Payment Schedule: Detailed payment terms including installment amounts, payment dates, and payment methods

6. Interest: Applicable interest rates, including default interest rates in accordance with Belgian law

7. Payment Method: Specified payment mechanisms and banking details

8. Default and Remedies: Consequences of missed payments and available remedies

9. Representations and Warranties: Basic representations about the validity of the debt and capacity to pay

10. Notices: How and where formal communications between parties should be sent

11. Governing Law and Jurisdiction: Confirmation of Belgian law as governing law and jurisdiction for disputes

Optional Sections

1. Security: Include when the payment obligation is secured by specific assets or guarantees

2. Early Payment Provisions: Include when early payment discounts or options are available

3. Third-Party Guarantor: Include when a third party is guaranteeing the payment obligations

4. Force Majeure: Include when parties want to address potential extraordinary circumstances affecting payment ability

5. Debt Acknowledgment: Include when there's a need to formally acknowledge pre-existing debt

6. Confidentiality: Include when parties wish to keep the payment terms confidential

7. Tax Provisions: Include when tax implications need to be addressed specifically

8. Assignment: Include when transfer of payment rights or obligations needs to be addressed

Suggested Schedules

1. Payment Schedule: Detailed breakdown of payment installments, dates, and amounts

2. Original Debt Documentation: Copies of original agreements or documents evidencing the debt

3. Bank Account Details: Complete banking information for making payments

4. Security Documentation: Details of any security or collateral provided

5. Calculation of Interest: Detailed methodology for calculating applicable interest

6. Corporate Authorizations: Required corporate approvals or resolutions authorizing the agreement

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Business Day
Creditor
Debtor
Default Event
Default Interest Rate
Due Date
Effective Date
Event of Default
Guarantor
Initial Payment
Installment Payment
Interest Rate
Late Payment
Outstanding Balance
Payment Date
Payment Method
Payment Schedule
Principal Amount
Repayment Period
Security
Settlement Date
Total Debt
Working Day
Notice
Parties
Permitted Payment Method
Relevant Interest Rate
Term
Early Payment
Force Majeure Event
Material Adverse Change
Payment Currency
Related Documents
Banking Details
Relevant Industries

Financial Services

Banking

Retail

Manufacturing

Construction

Professional Services

Healthcare

Real Estate

Technology

Transportation and Logistics

Education

Wholesale Trade

Energy

Telecommunications

Relevant Teams

Legal

Finance

Treasury

Credit Control

Accounts Receivable

Risk Management

Compliance

Commercial Operations

Debt Recovery

Contract Administration

Relevant Roles

Chief Financial Officer

Finance Director

Credit Controller

Accounts Receivable Manager

Treasury Manager

Legal Counsel

Contracts Manager

Collections Manager

Financial Controller

Risk Manager

Commercial Director

Business Development Manager

Debt Recovery Specialist

Compliance Officer

Finance Manager

Industries
Belgian Civil Code (Code civil/Burgerlijk Wetboek): Primary legislation governing contracts, obligations, and general contractual principles in Belgium. Articles 1101-1369 specifically deal with contracts and conventional obligations.
Law of 2 August 2002 on Combating Late Payment in Commercial Transactions: Implementation of EU Directive 2011/7/EU, establishing rules on payment terms, interest rates for late payments, and compensation for recovery costs in commercial transactions.
Belgian Economic Law Code (Code de droit économique/Wetboek van economisch recht): Contains provisions on business practices, consumer protection, and payment services, particularly relevant if one party is a consumer.
Law of 14 July 1991 on Trade Practices and Consumer Protection: Regulates unfair terms in consumer contracts and provides specific protections for consumers in payment agreements.
Belgian Law on Interest Rates: Governs legal and conventional interest rates applicable to payment obligations and late payments.
Law of 11 January 1993 on Preventing the Use of Financial Systems for Money Laundering: Relevant for payment agreements involving significant sums, requiring due diligence and verification of payment sources.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Debt Payment Plan Agreement

A Belgian law-governed agreement establishing a structured payment plan for debt settlement between creditor and debtor.

find out more

Repayment Plan Agreement

A Belgian law-governed agreement establishing structured debt repayment terms between creditor and debtor, including payment schedules and obligations.

find out more

Payment Plan Contract

A Belgian law-governed agreement establishing structured payment terms between parties, detailing payment schedules and obligations in compliance with Belgian legal requirements.

find out more

Payment Agreement

A Belgian law-governed agreement establishing payment terms and conditions between parties, ensuring compliance with Belgian Civil Code and EU regulations.

find out more

Contract For Payment Agreement

A Belgian law-governed agreement establishing formal payment terms and obligations between parties, including payment schedules, interest rates, and default provisions.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.