The Agreement to Pay is a crucial legal document used in Canadian business and financial transactions to formalize debt obligations and establish clear repayment terms. This document is particularly useful when parties need to document an existing debt or restructure payment terms for an outstanding obligation. It's designed to comply with Canadian federal legislation such as the Interest Act and Bills of Exchange Act, as well as provincial laws governing contracts and limitations. The agreement typically includes essential details such as the principal amount, payment schedule, interest rates, and consequences of default. It's commonly used in various scenarios including business loans, payment plans for services rendered, or settling outstanding accounts. The document provides legal protection for both creditor and debtor by clearly documenting the terms of repayment and creating an enforceable obligation under Canadian law.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc
1. Parties: Identifies and defines the creditor and debtor with their full legal names and addresses
2. Background: Explains the context of the debt, including its origin and the parties' relationship
3. Definitions: Defines key terms used throughout the agreement
4. Acknowledgment of Debt: Clear statement of the debt amount and debtor's acknowledgment of the obligation
5. Payment Terms: Specifies the payment amount, frequency, and method of payment
6. Interest: Details the applicable interest rate and how it is calculated
7. Default and Remedies: Defines what constitutes default and the creditor's rights in such cases
8. Representations and Warranties: Basic declarations by the debtor regarding their ability to pay and the validity of the debt
9. Notices: How formal communications between parties should be made
10. General Provisions: Standard boilerplate clauses including governing law, entire agreement, and amendments
1. Security Interest: Include when the debt is secured by specific assets or property
2. Guarantor Provisions: Include when a third party is guaranteeing the debt
3. Acceleration Clause: Include to allow the creditor to demand full payment under specific circumstances
4. Prepayment Terms: Include to specify if early payment is allowed and any associated penalties or benefits
5. Collection Costs: Include to address responsibility for legal and collection costs in case of default
6. Subordination: Include when this debt needs to be subordinated to other debts
7. Financial Covenants: Include when the debtor must maintain certain financial conditions
8. Assignment: Include when transfer rights need to be specifically addressed
1. Schedule A - Payment Schedule: Detailed breakdown of payment amounts and due dates
2. Schedule B - Debt Itemization: Detailed listing of the components making up the total debt amount
3. Schedule C - Security Details: Description of any assets or property serving as security for the debt
4. Appendix 1 - Proof of Debt: Copies of original invoices, statements, or other documents evidencing the debt
5. Appendix 2 - Payment Methods: Detailed instructions for acceptable payment methods and processing
Relevant legal definitions
Agreement
Business Day
Creditor
Debtor
Debt Amount
Default
Due Date
Effective Date
Event of Default
Guarantor
Interest Rate
Interest Period
Late Payment Fee
Material Adverse Change
Maturity Date
Payment Date
Payment Schedule
Permitted Payment Method
Principal Amount
Security
Security Interest
Term
Outstanding Balance
Default Rate
Acceleration Event
Cure Period
Notice
Authorized Representative
Banking Day
Governing Law
Business Day
Creditor
Debtor
Debt Amount
Default
Due Date
Effective Date
Event of Default
Guarantor
Interest Rate
Interest Period
Late Payment Fee
Material Adverse Change
Maturity Date
Payment Date
Payment Schedule
Permitted Payment Method
Principal Amount
Security
Security Interest
Term
Outstanding Balance
Default Rate
Acceleration Event
Cure Period
Notice
Authorized Representative
Banking Day
Governing Law
Clauses
Acknowledgment of Debt
Payment Terms
Interest
Security
Default
Acceleration
Representations and Warranties
Remedies
Prepayment
Collection Costs
Notice
Assignment
Amendment
Severability
Entire Agreement
Governing Law
Jurisdiction
Force Majeure
Guaranty
Indemnification
Waiver
Confidentiality
Counterparts
Further Assurances
Set-off Rights
Subordination
Payment Terms
Interest
Security
Default
Acceleration
Representations and Warranties
Remedies
Prepayment
Collection Costs
Notice
Assignment
Amendment
Severability
Entire Agreement
Governing Law
Jurisdiction
Force Majeure
Guaranty
Indemnification
Waiver
Confidentiality
Counterparts
Further Assurances
Set-off Rights
Subordination
Relevant Industries
Financial Services
Banking
Real Estate
Construction
Manufacturing
Retail
Professional Services
Healthcare
Education
Technology
Transportation
Agriculture
Energy
Mining
Telecommunications
Relevant Teams
Legal
Finance
Accounts Receivable
Treasury
Credit Control
Collections
Risk Management
Compliance
Corporate Secretariat
Business Development
Contract Administration
Relevant Roles
Chief Financial Officer
Finance Manager
Accounts Receivable Manager
Credit Controller
Collections Manager
Financial Controller
Treasury Manager
Risk Manager
Legal Counsel
Compliance Officer
Contract Administrator
Business Development Manager
Account Manager
Corporate Secretary
Financial Analyst
Debt Recovery Specialist
Find the exact document you need
Instalment Payment Agreement
A Canadian-compliant agreement establishing structured payment terms between creditor and debtor for debt repayment through scheduled instalments.
find out more
Guaranty Of Payment Form
A Canadian law-governed document establishing a guarantor's commitment to fulfill payment obligations of a principal debtor to a creditor.
find out more
Enforceable Payment Agreement
A Canadian-law governed agreement that establishes legally enforceable payment obligations between parties, including payment terms, interest, and enforcement provisions.
find out more
Honorarium Agreement Letter
A Canadian legal document formalizing the payment of an honorarium for voluntary or professional services, ensuring compliance with federal and provincial regulations.
find out more
Partial Payment Agreement Letter
A legally binding document used in Canadian jurisdictions to formalize an agreement between creditor and debtor for partial payment of outstanding debt with specific payment terms and conditions.
find out more
Affidavit Of Payment Agreement
A Canadian legal document combining a sworn statement with payment terms, executed before a Commissioner of Oaths or Notary Public.
find out more
Contract Of Repayment
A Canadian-law governed agreement that establishes legally binding terms for debt repayment, including payment schedule, interest rates, and default provisions.
find out more
Down Payment Agreement Letter
A Canadian legal document that formalizes the terms and conditions of a down payment between parties in a property or asset purchase transaction.
find out more
Contra Payment Agreement Letter
A Canadian-law governed document establishing terms for the exchange of goods or services instead of monetary payment between two parties.
find out more
Paid In Full Agreement
A Canadian law-compliant agreement documenting the full settlement of a debt obligation for a reduced amount, including payment terms and mutual releases.
find out more
Agreement To Pay
A Canadian-law governed agreement that formalizes debt obligations and establishes legally binding payment terms between parties.
find out more
Interim Payment Agreement
A Canadian law-governed agreement establishing terms for interim payments between parties, including payment schedules, conditions, and documentation requirements.
find out more
Auto Payment Contract
Canadian-compliant Auto Payment Contract establishing terms for recurring automated payments, adhering to federal and provincial regulations.
find out more
Contract To Pay Back Money Owed
A Canadian legal agreement that documents debt repayment terms, including amount owed, payment schedule, and interest rates in compliance with federal and provincial regulations.
find out more
Payment Agreement For Services Rendered
A Canadian-law governed agreement that establishes payment terms and conditions between service providers and clients for services rendered.
find out more
Instalment Purchase Agreement
A Canadian law-governed agreement establishing terms for purchasing goods through installment payments, including payment schedules, security interests, and party obligations.
find out more
Fee Payment Agreement
A Canadian-law governed agreement establishing terms and conditions for fee payments between parties, including payment schedules, methods, and obligations.
find out more
Collection Payment Agreement Letter
A legally binding document used in Canadian jurisdictions that establishes terms and conditions for debt repayment between creditors and debtors.
find out more
Car Damage Payment Agreement
A Canadian legal agreement establishing payment terms and conditions for vehicle damage compensation between involved parties.
find out more
Accident Payment Agreement
A Canadian legal document establishing settlement terms and payment arrangements between parties following an accident or injury, subject to federal and provincial regulations.
find out more
Money Owed Contract Agreement
A Canadian-compliant legal agreement documenting debt obligations, payment terms, and enforcement provisions between creditors and debtors.
find out more
Payment Takeover Contract
A Canadian law agreement governing the transfer of payment obligations from one party to another, establishing terms and conditions for assumption of debt.
find out more
Contract For Repayment Of Money
A Canadian-law governed agreement that establishes legally binding terms for monetary debt repayment, including principal amount, interest rates, and payment schedules.
find out more
Loan Payment Agreement
A Canadian-compliant agreement establishing loan repayment terms between lender and borrower, including principal, interest, and payment schedule details.
find out more
Recurring Payment Agreement
Canadian-compliant agreement establishing terms for automated recurring payment arrangements between service providers and customers.
find out more
Rental Agreement Advance Payment
Canadian-law governed rental agreement specifying terms for advance rent payment, including payment application structure and tenant-landlord obligations.
find out more
Pay Off Agreement
A Canadian-compliant legal agreement that establishes terms for settling an outstanding debt, typically for less than the original amount owed.
find out more
Pay Back Contract
A Canadian-law governed agreement that establishes legally binding terms for debt repayment between a lender and borrower, including principal, interest, and payment schedule.
find out more
Partial Payment Agreement For Lot
A Canadian legal agreement establishing terms for purchasing a lot through installment payments, ensuring compliance with federal and provincial real estate laws.
find out more
Partial Payment Agreement For House And Lot
A Canadian legal agreement establishing terms for purchasing property through scheduled partial payments, compliant with federal and provincial real estate regulations.
find out more
Non Payment Agreement
A Canadian-law governed agreement establishing terms for temporary suspension of payment obligations while preserving creditor rights.
find out more
Lot Payment Agreement
A Canadian legal agreement establishing terms for purchasing a lot through structured payments, including payment schedule and title transfer conditions.
find out more
Land Payment Agreement Letter
A Canadian legal document establishing payment terms and conditions for land transactions, subject to federal and provincial property laws.
find out more
Install Agreement
A Canadian-law governed agreement establishing terms and conditions for installation services, including technical specifications, safety requirements, and warranty provisions.
find out more
Final Payment Agreement
A Canadian law-governed agreement that formalizes the terms and conditions of a final payment to settle an outstanding debt or obligation.
find out more
Employee Repayment Agreement Letter
A Canadian jurisdiction document that formalizes an employee's agreement to repay specific funds to their employer, including payment terms and conditions.
find out more
Down Payment Contract
A Canadian legal agreement establishing the terms and conditions for a down payment in a purchase transaction, governed by federal and provincial laws.
find out more
Delayed Payment Agreement
A Canadian legal agreement that restructures existing payment obligations between parties, establishing new payment terms while ensuring compliance with federal and provincial regulations.
find out more
Commitment Letter To Pay Debt
A Canadian legal document establishing a debtor's formal commitment to repay a specified debt amount under defined terms and conditions.
find out more
Car Payment Takeover Agreement
A Canadian legal agreement facilitating the transfer of vehicle financing obligations from an original borrower to a new borrower, ensuring compliance with federal and provincial regulations.
find out more
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
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)
.png)