Template Acknowledgement of Debt Agreement

An Acknowledgment of Debt (also known as an AOD) is document recording the acknowledgement by a debtor of a specific amount owing to a creditor.

Most debts owing

Prepared by an attorney with no less than 12 years post qualification experience

An experienced solicitor

Benefits of our Template Acknowledgment of Debt

• It sets out clear contractual acknowledgement that a debt is owing
• Reduces the chance of a debtor disputing that an amount is owing
• Standardised to fit most situations
• Ready to use out of the box
• Adjustable to your needs
• Instantly delivered by email to your inbox

FAQ's regarding our Template Acknowledgment of Debt

What is our Template Acknowledgement of Debt?

Our template Acknowledgement of Debt Agreement allows for an inexpensive way in which almost all aspects of the Acknowledgement of Debt Agreement may be regulated, by providing a unique table at the start of the Acknowledgement of Debt Agreement which allows for you to customise parts of the agreement that you would like to include, exclude or vary.

Over many years of preparing Acknowledgement of Debt Agreements, we have hand selected and included in this template Acknowledgement of Debt Agreement, all the best possible provisions to efficiently and effectively regulate the debt owing to your business.

What format is the template delivered in and is it editable?

The template is delivered to you in Word document format and is fully editable by you.

What are some of the clauses contained in the Template Acknowledgement of Debt

Our unique table at the start of the agreement will allow you to customise the Acknowledgement of Debt Agreement to your needs.

Among others, the template Acknowledgement of Debt Agreement will contain clauses related to the following:

• Repayment Dates;
• Amount owing and installments to be paid;
• Costs that the debtor will be liable for;
• Interest rates (if applicable);
• What happens if the debtor misses a payment date;
• A clause to ensure that this signed Acknowledgement of Debt Agreement can be used as proof in court to obtain a judgement against the debtor (if every needed);
• And much more.