An Agreement To Pay Letter is a crucial document used in German business and legal practice when there is a need to formally document and structure the repayment of a debt. This document type is particularly relevant when parties wish to establish a clear, legally binding payment arrangement without resorting to court proceedings. The letter, governed by German law, particularly the German Civil Code (BGB), serves multiple purposes: it confirms the existence and amount of the debt, establishes a concrete payment schedule, and outlines the consequences of default. It's commonly used in situations where a debtor acknowledges a debt and agrees to specific payment terms, whether in a single payment or installments. The document can be used in both business-to-business and business-to-consumer contexts, providing a formal framework for debt resolution while maintaining business relationships.
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1. Header Information: Date, sender's and recipient's full names and addresses, and reference number if applicable
2. Subject Line: Clear indication that this is an Agreement to Pay (Zahlungsvereinbarung)
3. Debt Acknowledgment: Clear statement of the total amount owed, origin of the debt, and confirmation of the debtor's acknowledgment
4. Payment Terms: Specific details of how and when the payment(s) will be made, including payment method and schedule
5. Default Consequences: Clear statement of what happens if payments are not made as agreed, including any acceleration clauses
6. Signatures: Space for both parties to sign, with date and place of signing
1. Interest Terms: Include when there is an agreement on interest charges or late payment interest
2. Third-Party Guarantor: Include when a third party is guaranteeing the payment
3. Security Provisions: Include when specific assets are being provided as security for the payment
4. Early Payment Options: Include when there are provisions for early payment or payment discounts
5. Dispute Resolution: Include when specific dispute resolution procedures are agreed upon
6. Legal Costs: Include when there is an agreement about who bears the legal costs of creating the agreement
1. Payment Schedule: Detailed breakdown of payment installments, dates, and amounts if payment is to be made in multiple installments
2. Debt Calculation: Detailed breakdown of how the total debt amount was calculated, including any interest or fees
3. Supporting Documents: Copies of original invoices, contracts, or other documents evidencing the debt
4. Direct Debit Authorization: If applicable, SEPA direct debit mandate or other payment authorization forms
Relevant legal definitions
Agreement
Outstanding Amount
Due Date
Payment Schedule
Default Interest Rate
Business Day
Payment Method
Original Debt
Creditor
Debtor
Guarantor
Interest Period
Late Payment
Payment Date
Security
Working Day
Bank Account
Default Event
Effective Date
Force Majeure
Installment
Original Contract
Parties
Settlement Amount
Outstanding Amount
Due Date
Payment Schedule
Default Interest Rate
Business Day
Payment Method
Original Debt
Creditor
Debtor
Guarantor
Interest Period
Late Payment
Payment Date
Security
Working Day
Bank Account
Default Event
Effective Date
Force Majeure
Installment
Original Contract
Parties
Settlement Amount
Clauses
Relevant Industries
Financial Services
Banking
Retail
Manufacturing
Professional Services
Construction
Real Estate
Healthcare
Education
Telecommunications
Utilities
Wholesale Trade
Transportation and Logistics
Technology
Relevant Teams
Legal
Finance
Accounts Receivable
Credit Control
Treasury
Collections
Risk Management
Compliance
Corporate Affairs
Business Administration
Relevant Roles
Credit Controller
Accounts Receivable Manager
Finance Director
Chief Financial Officer
Collections Specialist
Legal Counsel
Debt Recovery Officer
Treasury Manager
Financial Controller
Credit Risk Manager
Accounts Manager
Business Development Manager
Contract Administrator
Corporate Lawyer
Compliance Officer
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