Document background
The Simple Payment Agreement Contract is a fundamental legal document used in Belgian commercial practice to formalize payment obligations between parties. It is particularly useful when there is a need to document a straightforward payment arrangement, whether for goods, services, or other commercial obligations. The agreement complies with Belgian law requirements, including the Belgian Civil Code and the Law on Payment Terms in Commercial Transactions, while also considering relevant EU directives. This document type is commonly used in situations ranging from supplier payments to settlement agreements, and can be adapted for both one-time and recurring payment obligations. It includes essential elements such as payment terms, interest provisions, and default remedies, while maintaining the simplicity needed for straightforward commercial transactions.
