The Agreement To Pay Contract is a fundamental legal document used in New Zealand to establish and formalize payment obligations between parties. This document is particularly useful when there's a need to structure payment arrangements, whether for settling existing debts, establishing payment plans, or creating new payment obligations. It's designed to comply with New Zealand's legal framework, including the Contract and Commercial Law Act 2017, Credit Contracts and Consumer Finance Act 2003, and other relevant legislation. The agreement can be used in various contexts, from business-to-business transactions to personal payment arrangements, and typically includes detailed payment terms, interest provisions, default consequences, and enforcement mechanisms. It's particularly valuable in situations requiring clear documentation of payment obligations, such as vendor payments, loan repayments, or settlement agreements.

1. Parties: Identifies and defines the parties to the agreement - typically the Payee (party receiving payment) and Payor (party making payment)

2. Background: Explains the context and circumstances leading to the payment obligation, including any pre-existing relationships or agreements

3. Definitions: Defines key terms used throughout the agreement for clarity and consistency

4. Payment Obligation: States the principal amount owed and confirms the Payor's obligation to pay

5. Payment Terms: Specifies payment amount(s), frequency, due dates, and acceptable payment methods

6. Interest: Details any interest charges, including the rate and calculation method

7. Default and Consequences: Outlines what constitutes default and the consequences, including any penalties or additional charges

8. Dispute Resolution: Describes the process for resolving any disputes related to the agreement

9. Notices: Specifies how formal communications between parties should be made and delivered

10. General Provisions: Standard contractual provisions including governing law, entire agreement, and amendments