The Acknowledgement Receipt For Payment Of Debt is a crucial document in Hong Kong's business and legal landscape, used to formally document the receipt of payment against an existing debt obligation. This document is particularly important in commercial transactions and debt settlement processes, providing clear evidence that can prevent future disputes about payment status. Under Hong Kong law, such acknowledgments serve as important documentary evidence and can affect limitation periods for legal actions related to the debt. The document should be used whenever a significant debt payment is made, whether as full or partial settlement, and should contain sufficient detail to clearly identify the parties, the original debt, and the payment received. It's especially valuable in business relationships where formal documentation of financial transactions is necessary for accounting, audit, or legal purposes.
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1. Header and Date: Document title 'Acknowledgement Receipt For Payment Of Debt' and date of receipt issuance
2. Parties: Full legal names and addresses of both the creditor (recipient) and debtor (payer)
3. Original Debt Reference: Details of the original debt, including date, amount, and any reference numbers or agreements
4. Payment Confirmation: Specific details of the payment received, including amount, date, and method of payment
5. Settlement Declaration: Clear statement confirming whether this payment constitutes full settlement of the debt
6. Signature Block: Space for creditor's signature, name, and date of signing
1. Partial Payment Terms: Used when the payment represents only part of the total debt, specifying the outstanding balance and impact on the original debt obligation
2. Payment Method Details: Used when specific payment method details need to be recorded (e.g., check number, bank transfer reference)
3. Release of Claims: Used in full settlement cases to explicitly release the debtor from all claims related to the debt
4. Conditions: Used when the acknowledgment is subject to specific conditions (e.g., check clearance)
5. Witness Section: Used when witnessing is required for additional verification
1. Schedule 1 - Payment Details: Detailed breakdown of payment if multiple payments or complex calculation involved
2. Schedule 2 - Original Debt Documentation: Copies or references to original debt agreements or instruments
3. Schedule 3 - Payment Evidence: Copies of payment proof (e.g., bank transfer receipts, check images)
Relevant legal definitions
Original Debt
Debt Agreement
Payment
Payment Date
Outstanding Balance
Creditor
Debtor
Settlement Amount
Business Day
Hong Kong
Original Due Date
Payment Method
Settlement Date
Related Documents
Authorized Representative
Payment Evidence
Original Debt Amount
Interest Rate
Settlement Terms
Reference Number
Debt Agreement
Payment
Payment Date
Outstanding Balance
Creditor
Debtor
Settlement Amount
Business Day
Hong Kong
Original Due Date
Payment Method
Settlement Date
Related Documents
Authorized Representative
Payment Evidence
Original Debt Amount
Interest Rate
Settlement Terms
Reference Number
Clauses
Relevant Industries
Banking and Financial Services
Real Estate
Commercial Trading
Construction
Manufacturing
Professional Services
Retail
Wholesale
Small and Medium Enterprises
Corporate Business
Legal Services
Accounting Services
Relevant Teams
Finance
Accounts Receivable
Legal
Treasury
Credit Control
Collections
Administration
Corporate Secretarial
Risk Management
General Counsel
Relevant Roles
Financial Controller
Accounts Receivable Manager
Credit Controller
Finance Manager
Accountant
Legal Counsel
Company Secretary
Treasury Manager
Collections Manager
Credit Risk Manager
Chief Financial Officer
Accounts Manager
Business Owner
Financial Administrator
Legal Administrator
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