The Arrears Repayment Agreement serves as a crucial legal instrument in South African debt management, providing a structured framework for resolving outstanding payment obligations. It is typically employed when a debtor has fallen behind on payments under an original agreement and both parties wish to formalize new payment terms. The document must comply with the National Credit Act 34 of 2005, particularly regarding interest rates and collection practices, and the Consumer Protection Act 68 of 2008 for fair treatment provisions. This agreement includes essential elements such as acknowledgment of the debt, detailed repayment schedules, interest calculations, and default provisions. It's particularly valuable for businesses managing delinquent accounts while maintaining compliance with South African consumer protection and credit legislation.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc
1. Parties: Full legal names, registration/identity numbers, and addresses of the creditor and debtor
2. Background: Overview of the original debt, circumstances leading to arrears, and current amount outstanding
3. Definitions: Definitions of key terms used throughout the agreement, including 'Arrears Amount', 'Payment Date', 'Original Agreement'
4. Acknowledgment of Debt: Formal acknowledgment by the debtor of the amount owed, including a statement that the debt is due and payable
5. Repayment Terms: Detailed terms of repayment including amount, frequency, payment method, and due dates
6. Interest and Charges: Specification of interest rates, additional charges, and fees in compliance with the National Credit Act
7. Default Provisions: Consequences of default and remedies available to the creditor
8. General Terms: Standard contractual provisions including notices, amendments, and governing law
9. Signatures: Execution clause and signature blocks for all parties
1. Security Provisions: Required when the debt is secured by assets or guarantees
2. Debt Counselling Declaration: Required when the debtor is under debt review or has applied for debt counselling
3. Acceleration Clause: Optional clause allowing full debt to become due upon default, if permitted under circumstances
4. Third Party Payment Provisions: Required when payments will be made by a party other than the debtor
5. Credit Insurance: Required when credit insurance is applicable to the debt
6. Dispute Resolution: Optional detailed alternative dispute resolution procedures
1. Schedule A - Debt Breakdown: Detailed breakdown of the total debt amount, including principal, interest, and other charges
2. Schedule B - Payment Schedule: Detailed payment schedule showing dates, amounts, and running balance
3. Schedule C - Original Agreement: Copy or summary of the original agreement giving rise to the debt
4. Schedule D - Supporting Documents: Relevant supporting documentation such as statements or demand letters
5. Appendix 1 - Payment Methods: Details of approved payment methods and banking details
6. Appendix 2 - Contact Details: Contact information for notices and payment queries
Relevant legal definitions
Agreement
Arrears Amount
Business Day
Commencement Date
Credit Provider
Consumer
Default
Due Date
Effective Date
Events of Default
Interest Rate
Initial Debt
Instalment
Original Agreement
Outstanding Balance
Parties
Payment Date
Payment Schedule
Penalty Interest
Principal Debt
Repayment Plan
Settlement Amount
Settlement Date
Signature Date
Total Amount Payable
Writing
Notice
Legal Proceedings
Prescribed Rate
Payment Method
Default Charges
Collection Costs
Credit Bureau
Debt Counsellor
Force Majeure
Governing Law
Jurisdiction
Arrears Amount
Business Day
Commencement Date
Credit Provider
Consumer
Default
Due Date
Effective Date
Events of Default
Interest Rate
Initial Debt
Instalment
Original Agreement
Outstanding Balance
Parties
Payment Date
Payment Schedule
Penalty Interest
Principal Debt
Repayment Plan
Settlement Amount
Settlement Date
Signature Date
Total Amount Payable
Writing
Notice
Legal Proceedings
Prescribed Rate
Payment Method
Default Charges
Collection Costs
Credit Bureau
Debt Counsellor
Force Majeure
Governing Law
Jurisdiction
Clauses
Acknowledgment of Debt
Repayment Terms
Payment Obligations
Interest
Default
Acceleration
Breach
Remedies
Security
Representations and Warranties
Acknowledgments
Undertakings
Consumer Rights
Credit Insurance
Notices
Breach Notifications
Dispute Resolution
Jurisdiction
Costs
Assignment
Amendment
Severability
Entire Agreement
Governing Law
Force Majeure
Confidentiality
Waiver
Indemnification
Good Faith
Compliance with Laws
Repayment Terms
Payment Obligations
Interest
Default
Acceleration
Breach
Remedies
Security
Representations and Warranties
Acknowledgments
Undertakings
Consumer Rights
Credit Insurance
Notices
Breach Notifications
Dispute Resolution
Jurisdiction
Costs
Assignment
Amendment
Severability
Entire Agreement
Governing Law
Force Majeure
Confidentiality
Waiver
Indemnification
Good Faith
Compliance with Laws
Relevant Industries
Financial Services
Banking
Retail
Telecommunications
Utilities
Insurance
Property Management
Healthcare
Education
Professional Services
Relevant Teams
Legal
Finance
Credit Control
Collections
Risk Management
Compliance
Customer Relations
Account Management
Debt Recovery
Operations
Relevant Roles
Credit Manager
Financial Controller
Legal Counsel
Debt Collection Officer
Credit Control Manager
Risk Manager
Compliance Officer
Account Manager
Collections Specialist
Finance Director
Credit Analyst
Legal Administrator
Debt Recovery Specialist
Find the exact document you need
Contract For Taking Over Car Payments
A South African law-governed agreement that transfers vehicle payment obligations from an existing debtor to a new debtor, ensuring compliance with local credit and consumer protection legislation.
find out more
Guaranty Of Payment Form
A South African law-compliant document where a guarantor commits to fulfilling specified financial obligations on behalf of a principal debtor if they default.
find out more
Enforceable Payment Agreement
A legally binding agreement under South African law that establishes and enforces payment obligations between parties.
find out more
Service Contract Payment Terms
A South African law-governed document defining payment terms and conditions for service contracts, including payment schedules, methods, and dispute resolution procedures.
find out more
Affidavit Of Payment Agreement
A South African legal document combining a sworn statement with a formal payment agreement, detailing debt recognition and payment terms, certified by a Commissioner of Oaths.
find out more
Contract Of Repayment
A South African law-compliant agreement that establishes terms and conditions for debt repayment between parties, including payment schedules and default provisions.
find out more
Promissory Payment Agreement
A South African law-governed agreement documenting a binding promise to pay a specified sum of money, with detailed payment terms and conditions.
find out more
Rent Arrears Repayment Agreement
A South African law-compliant agreement establishing a structured repayment plan for rental arrears between landlord and tenant.
find out more
Service Agreement Payment Terms
South African-compliant document outlining payment terms and conditions for service agreements, including payment schedules, methods, and obligations.
find out more
Payment Plan Agreement For Vehicle
A South African law-compliant agreement establishing terms for vehicle purchase through installment payments, incorporating National Credit Act requirements.
find out more
Agreement For Money Owed
A South African law-compliant agreement that formally documents a debt obligation, including payment terms and enforcement provisions.
find out more
Paid In Full Agreement
A South African law-governed agreement documenting the full and final settlement of a debt between a creditor and debtor.
find out more
Employee Pay Agreement Form
A South African law-compliant agreement document that formalizes employment compensation terms and conditions between employer and employee.
find out more
Taking Over Car Installments Agreement
South African agreement for transferring vehicle installment payment obligations from an existing debtor to a new debtor, with credit provider consent.
find out more
Interim Payment Agreement
A South African law-governed agreement establishing temporary payment arrangements between parties, including payment terms and conditions pending final agreement.
find out more
Contract For Payment Of Services
A South African law-governed agreement establishing terms for service provision and payment between service providers and clients.
find out more
Simple Royalty Agreement
A South African law-governed agreement establishing terms for royalty payments in exchange for intellectual property usage rights.
find out more
Rental Agreement Payment Terms
South African rental agreement payment terms document outlining rental payment conditions and obligations under SA law.
find out more
Lease Agreement Payment Terms
A South African legal document specifying payment terms and conditions for lease agreements, ensuring compliance with local property law and regulations.
find out more
Instalment Purchase Agreement
A South African law-compliant agreement for the sale of goods with payment in instalments, governed by the National Credit Act and Consumer Protection Act.
find out more
Fee Payment Agreement
A South African law-governed agreement that establishes terms and conditions for fee payments between parties, including payment schedules, methods, and default provisions.
find out more
Collection Payment Agreement Letter
A South African legal document establishing payment terms and conditions between creditor and debtor for debt settlement, compliant with local collection and consumer protection laws.
find out more
Car Damage Payment Agreement
A South African legal agreement establishing payment terms and conditions for vehicle damage compensation between involved parties.
find out more
Agreement Letter For Payment Of Land
A South African legal document outlining terms and conditions for land payment between seller and purchaser, compliant with local property law.
find out more
Accident Payment Agreement
A South African law-compliant agreement establishing terms and conditions for accident-related compensation payments and settlement terms.
find out more
Freelance Payment Contract
A South African law-compliant contract establishing payment terms and conditions for freelance services, including scope, deliverables, and legal protections.
find out more
Undertaking Letter For Commission Payment
A South African law-governed document formalizing a commitment to pay commission, specifying payment terms and conditions.
find out more
Tripartite Agreement For Third Party Payment
A South African law-governed agreement establishing a formal arrangement where a third party agrees to make payments on behalf of a debtor to a creditor.
find out more
Settlement Agreement Payment Terms
A South African law-compliant agreement detailing payment terms and conditions for settling financial obligations between parties.
find out more
Rental Agreement Advance Payment
South African rental agreement template incorporating advance payment terms, compliant with local property and consumer protection laws.
find out more
Pay Off Agreement
A South African legal document that outlines terms for settling an outstanding debt, typically at a reduced amount or through structured payments, compliant with local credit and consumer protection laws.
find out more
Non Payment Agreement
A South African law-governed agreement establishing binding commitments regarding payment restrictions, competitive limitations, or confidentiality obligations between parties.
find out more
Install Agreement
A South African law-compliant agreement governing the installation of equipment or systems, including terms, specifications, and regulatory requirements.
find out more
Independent Contractor Payment Agreement
A South African law-governed agreement establishing payment terms and conditions between a client and independent contractor, ensuring clear designation of contractor status and payment obligations.
find out more
Final Payment Agreement
A South African law-governed agreement that establishes the terms and conditions for settling an outstanding debt through final payment arrangements.
find out more
Down Payment Contract
A South African law-governed agreement establishing terms and conditions for an initial payment in a larger transaction, ensuring regulatory compliance and party protection.
find out more
Delayed Payment Agreement
A South African law-governed agreement establishing terms and conditions for the delayed payment of an existing debt, ensuring compliance with local credit and consumer protection legislation.
find out more
Credit Payment Agreement Letter
A South African legal document establishing credit payment terms and conditions between a credit provider and recipient, compliant with the National Credit Act.
find out more
Commitment Letter To Pay Debt
A South African law-governed formal acknowledgment of debt and commitment to pay, outlining payment terms and conditions between creditor and debtor.
find out more
Car Payment Takeover Agreement
A South African legal agreement enabling the transfer of vehicle finance obligations from an original purchaser to a new buyer, ensuring compliance with local credit and consumer protection laws.
find out more
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)
.png)