The Deferment Agreement is a crucial legal instrument used when parties need to modify existing payment obligations due to various circumstances such as financial hardship, business restructuring, or strategic financial planning. Under Dutch law, this agreement provides a formal framework for documenting the revised payment terms while ensuring compliance with the Dutch Civil Code (Burgerlijk Wetboek) and relevant financial regulations. The document typically includes detailed provisions about the original debt, new payment schedule, interest calculations, and consequences of default. It's particularly important in commercial and financial relationships where clear documentation of payment modifications is essential for legal certainty and risk management. The agreement can be used in both business-to-business and business-to-consumer contexts, with additional provisions applying when consumer protection regulations are relevant.
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1. Parties: Identification of the creditor(s) and debtor(s), including full legal names and addresses
2. Background: Context of the original debt, reference to original agreements, and reason for deferment
3. Definitions: Definitions of key terms used throughout the agreement
4. Original Debt Acknowledgment: Confirmation of the original debt amount and terms
5. Deferment Terms: Specific terms of the deferment including new payment dates and conditions
6. Payment Arrangements: Detailed payment schedule, payment methods, and processing details
7. Interest and Charges: Treatment of interest during deferment period and any associated charges
8. Default Provisions: Consequences of default under the new arrangement
9. Representations and Warranties: Standard representations about capacity and authority to enter agreement
10. Governing Law and Jurisdiction: Confirmation of Dutch law application and jurisdiction
11. Execution: Signature blocks and execution requirements
1. Security Arrangements: Include when additional security is required for the deferred amount
2. Multiple Creditor Provisions: Required when there are multiple creditors involved in the deferment
3. Regulatory Compliance: Include when specific regulatory requirements apply (e.g., consumer credit regulations)
4. Early Payment Provisions: Optional terms for early repayment scenarios
5. Third Party Rights: Include when third parties have rights under the agreement
6. Force Majeure: Optional provisions for unforeseen circumstances affecting payment ability
7. Confidentiality: Include when sensitive commercial information needs protection
1. Payment Schedule: Detailed breakdown of payment dates, amounts, and installments
2. Original Debt Documentation: Copies or summaries of original debt agreements and amendments
3. Security Documentation: Details of any security arrangements if applicable
4. Contact Details: List of relevant contact persons and payment processing details
5. Consent Forms: Any required regulatory or third-party consent forms
6. Financial Statement: Current financial position of the debtor if relevant
Relevant legal definitions
Agreement
Business Day
Creditor
Debtor
Default
Default Interest
Deferment Period
Deferred Amount
Effective Date
Event of Default
Existing Agreement
Interest Rate
Original Debt
Original Due Date
Original Payment Schedule
Party/Parties
Payment Date
Revised Payment Schedule
Security
Security Document(s)
Security Provider
Settlement Date
Working Day
Outstanding Amount
Permitted Payment
Material Adverse Effect
Guarantor
Guarantee
Related Rights
Repayment Schedule
Secured Obligations
Tax
Business Day
Creditor
Debtor
Default
Default Interest
Deferment Period
Deferred Amount
Effective Date
Event of Default
Existing Agreement
Interest Rate
Original Debt
Original Due Date
Original Payment Schedule
Party/Parties
Payment Date
Revised Payment Schedule
Security
Security Document(s)
Security Provider
Settlement Date
Working Day
Outstanding Amount
Permitted Payment
Material Adverse Effect
Guarantor
Guarantee
Related Rights
Repayment Schedule
Secured Obligations
Tax
Clauses
Acknowledgment of Debt
Payment Terms
Interest
Security
Default
Representations and Warranties
Covenants
Events of Default
Remedies
Assignment
Amendments
Notices
Confidentiality
Force Majeure
Severability
Entire Agreement
Further Assurance
Costs and Expenses
Set-off
Waiver
Third Party Rights
Counterparts
Electronic Execution
Governing Law
Jurisdiction
Payment Terms
Interest
Security
Default
Representations and Warranties
Covenants
Events of Default
Remedies
Assignment
Amendments
Notices
Confidentiality
Force Majeure
Severability
Entire Agreement
Further Assurance
Costs and Expenses
Set-off
Waiver
Third Party Rights
Counterparts
Electronic Execution
Governing Law
Jurisdiction
Relevant Industries
Financial Services
Banking
Insurance
Real Estate
Construction
Manufacturing
Retail
Professional Services
Healthcare
Technology
Telecommunications
Energy
Agriculture
Relevant Teams
Legal
Finance
Credit Control
Treasury
Risk Management
Compliance
Commercial
Accounts Receivable
Debt Recovery
Corporate Affairs
Relevant Roles
Chief Financial Officer
Finance Director
Credit Manager
Collections Manager
Legal Counsel
Corporate Lawyer
Finance Manager
Accounts Receivable Manager
Treasury Manager
Risk Manager
Debt Recovery Specialist
Financial Controller
Commercial Director
Business Development Manager
Compliance Officer
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