DEBT AGREEMENT
This Debt Agreement (herein referred to as the "Agreement") is made on this
_______ day of ______________ 2022 between ________________ (herein
referred to as the “Creditor”) and _________________ (herein referred to as the
“Debtor”). Together referred to as “the parties”.
1. Amount Owed.
The parties herein agree and acknowledge that the Debt owed to the Creditor is
$1,070
2. Payments.
The Creditor shall pay off the debt owed to the Debtor in whatever payment mode
and/or installment to settle the debt on or before four weeks from the date of signing
hereof.
3. Confidentiality.
The parties herein acknowledge that during the performance of this Contract, the
content of this Agreement and any information obtained shall be deemed
confidential, and the same will not be shared with any third parties without prior
written consent.
4. Dispute/Conflict Resolution.
If there is any conflict or dispute during the performance of this Contract, the same
shall be negotiated between the parties amicable. If the same fails, the disagreement
or dispute shall be settled through litigation.
5. Default.
The parties herein agree that in the event the Debtor defaults in making the
payments mentioned in clause 1 above within the agreed timeframe in clause 2.
Legal action against the Debtor will be taken at the Debtors expense and further fees
and costs.
6. Governing Law.
This Contract shall be governed and construed in accordance with the laws of the
State of Ohio.
7. Modification.
Either party to this Contract may modify the provisions and terms herein by the same
modification being in writing and signed by both parties.
8. Waiver.
No waiver by either party of any default shall be deemed a waiver of prior or
subsequent default of the same of other provisions of this Contract.
9. Severability.
Suppose a court of competent jurisdiction holds any term, clause, or provision hereof
is invalid or unenforceable. In that case, such invalidity shall not affect the validity or
operation of any other term, clause, or provision, and such invalid term, clause, or
provision shall be severed from the Contract.
10. Assignment.
Neither party to this Contract may assign or transfer its rights and obligations without
the prior written consent of the other party.
11. Entire Agreement.
This is the entire Agreement between the parties, and it supersedes any prior
negotiations, promises, or contracts, either written or Oral.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
hereinbelow; –
By the CREDITOR; –
Name:
____________________________
Signature:
_________________________
Date:
_____________________________
Email Address:
____________________
By the DEBTOR; –
Name:
____________________________
Signature:
_________________________
Date:
_____________________________
Email Address:
____________________
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