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1. Parties: Identifies and defines the creditor and debtor
2. Background: Outlines the existence of the original debt, previous payment history, and context for the discounted payoff arrangement
3. Definitions: Defines key terms used throughout the agreement
4. Original Debt Acknowledgment: States the original debt amount and its origins
5. Settlement Amount: Specifies the agreed discounted payment amount
6. Payment Terms: Details the payment method, due date, and any installment arrangements
7. Settlement Conditions: Outlines conditions that must be met for the settlement to be valid
8. Release and Discharge: Confirms that payment of the settlement amount will fully discharge the debt
9. Default Provisions: Specifies consequences if settlement payment terms are not met
10. Confidentiality: Requirements for keeping the settlement terms confidential
11. Entire Agreement: Confirms this agreement supersedes all previous arrangements
12. Governing Law: Specifies New Zealand law governs the agreement
13. Execution: Signature blocks and execution requirements
1. Security Release: Required if the original debt was secured against assets or property
2. Tax Acknowledgments: Include when there are significant tax implications from the debt forgiveness
3. Credit Reporting: Include when there are agreements about how the debt will be reported to credit agencies
4. Third Party Rights: Include when guarantors or other third parties are involved
5. Installment Schedule: Include when the settlement amount is to be paid in installments rather than lump sum
6. Dispute Resolution: Include when parties want to specify particular dispute resolution procedures
7. Further Assurance: Include when additional documentation or actions may be required post-settlement
1. Schedule 1 - Debt Details: Detailed breakdown of the original debt, including dates, amounts, and interest
2. Schedule 2 - Payment Schedule: If applicable, detailed schedule of installment payments including dates and amounts
3. Schedule 3 - Security Details: If applicable, details of any security arrangements to be released
4. Appendix A - Original Loan Documentation: Reference copies of original loan or credit agreements
5. Appendix B - Payment Instructions: Detailed payment instructions and bank account details
Business Day
Claim
Completion
Confidential Information
Credit Contract
Creditor
Debt
Debtor
Default
Default Interest
Discounted Amount
Due Date
Effective Date
Encumbrance
Event of Default
Final Settlement Date
Full Payment
Guarantor
Initial Debt
Installment
Interest Rate
Original Credit Agreement
Outstanding Balance
Parties
Payment Date
Payment Schedule
Release Date
Repayment Terms
Security
Security Interest
Settlement Amount
Settlement Conditions
Settlement Date
Settlement Payment
Settlement Period
Working Day
Settlement Terms
Payment Terms
Release and Discharge
Default
Representations and Warranties
Confidentiality
Further Assurance
Assignment
Notices
Governing Law
Jurisdiction
Entire Agreement
Severability
Amendment
Force Majeure
Waiver
Security Release
Tax Implications
Credit Reporting
Dispute Resolution
Third Party Rights
Costs
Electronic Execution
Counterparts
Banking & Financial Services
Debt Collection & Recovery
Credit Management
Consumer Finance
Commercial Lending
Retail
Professional Services
Property & Real Estate
Manufacturing
Healthcare
Legal
Finance
Credit Management
Collections
Risk Management
Compliance
Treasury
Account Management
Debt Recovery
Settlement Administration
Credit Manager
Collections Manager
Financial Controller
Risk Manager
Legal Counsel
Debt Recovery Specialist
Account Manager
Settlement Officer
Compliance Officer
Chief Financial Officer
Credit Analyst
Relationship Manager
Recovery Manager
Finance Director
Treasury Manager
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