All Countries
Banking
Payment Agreement

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 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:

Payment Agreement

"I need a Payment Agreement for a €250,000 software implementation project, with quarterly installment payments starting March 2025, including provisions for early payment discounts and late payment penalties under Belgian law."

Celebrated by
Collaborations with
Investors
Document background
A Payment Agreement is essential when parties need to formally document and structure payment obligations under Belgian law. This document is commonly used in situations involving debt restructuring, installment payments, or the formalization of payment terms for goods or services. The agreement must comply with Belgian Civil Code requirements and EU regulations, particularly regarding payment terms and late payment provisions. It typically includes detailed payment schedules, interest calculations, and default remedies, while incorporating specific Belgian legal requirements such as those from the Law of August 2, 2002 on Late Payments in Commercial Transactions. The document is crucial for businesses and individuals seeking to establish clear, enforceable payment terms while ensuring compliance with Belgian commercial law and EU directives.
Suggested Sections

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

2. Background: Context of the agreement, including the underlying obligation or reason for the payment arrangement

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

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

5. Payment Terms: Detailed payment conditions including due dates, payment methods, and account details

6. Interest and Late Payment: Provisions for interest charges and consequences of late payment in accordance with Belgian law

7. Default and Remedies: Consequences of default and available remedies for the creditor

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

9. Notices: Requirements for formal communications between parties

10. Governing Law and Jurisdiction: Confirmation of Belgian law application and jurisdiction for disputes

11. Execution: Signature blocks and execution requirements

Optional Sections

1. Installment Payment Plan: Detailed terms for payment in installments, used when payments are to be made in multiple tranches

2. Security Interest: Terms regarding any collateral or security provided for the payment obligation

3. Guarantee: Terms of any third-party guarantee of the payment obligation

4. Early Payment Provisions: Terms for early payment including any applicable discounts

5. Force Majeure: Provisions for payment delays due to extraordinary circumstances

6. Assignment: Terms regarding the ability to assign payment rights or obligations

7. Tax Provisions: Allocation of tax obligations related to the payments

8. Electronic Payment Terms: Specific provisions for electronic payment methods when applicable

9. Currency Exchange: Provisions for handling currency conversion if payments involve multiple currencies

Suggested Schedules

1. Payment Schedule: Detailed schedule of payment dates and amounts, particularly important for installment payments

2. Interest Calculation Method: Detailed methodology for calculating interest, especially for variable rates

3. Security Details: Description and documentation of any security or collateral provided

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

5. Prior Payment History: Record of any previous payments made if this agreement modifies an existing obligation

6. Supporting Documents: Copies of relevant documents evidencing the underlying obligation

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 Industries

Financial Services

Banking

Real Estate

Manufacturing

Retail

Construction

Professional Services

Healthcare

Technology

Education

Telecommunications

Energy

Transportation

Agriculture

Hospitality

Relevant Teams

Finance

Legal

Accounts Receivable

Treasury

Credit Control

Commercial

Risk Management

Compliance

Business Development

Collections

Contract Administration

Relevant Roles

Chief Financial Officer

Finance Manager

Accounts Receivable Manager

Credit Controller

Treasury Manager

Financial Controller

Legal Counsel

Contracts Manager

Collections Specialist

Risk Manager

Business Development Manager

Account Manager

Commercial Director

Compliance Officer

Financial Analyst

Industries
Belgian Civil Code (Code Civil/Burgerlijk Wetboek): Primary legislation governing contracts and obligations in Belgium, including basic requirements for valid contracts, payment obligations, and remedies for breach
Law of August 2, 2002 on Late Payments in Commercial Transactions: Implements EU Late Payment Directive and sets rules for payment terms in B2B transactions, including maximum payment periods and late payment interest
Belgian Economic Law Code (Code de droit économique/Wetboek van economisch recht): Contains provisions on consumer protection, fair trading practices, and payment services regulations
EU Directive 2011/7/EU: European directive on combating late payment in commercial transactions, which has been implemented in Belgian law
Belgian Law of 10 December 2009 on Payment Services: Regulates payment services and electronic payments, implementing EU Payment Services Directive
Belgian Anti-Money Laundering Law of 18 September 2017: Contains provisions regarding payment verification and documentation requirements for certain types of payments
EU General Data Protection Regulation (GDPR): Relevant for handling personal data in payment processing and documentation
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.