The Agreement may only be modified by an express and written mutual agreement of the Parties, in which case any modification or waiver of any provision of this Agreement shall be annexed to and incorporated into the Agreement. Debt settlement. It is understood by the parties that the debtor has an unpaid debt to the creditor. For the mutual benefit of the parties, they agree that: that such unpaid debt is declared paid when the debtor must pay $_____ by _______ United States settlement agreements are subject to the laws of the United States; cover the principles of debt, such as a necessary written confirmation, as well as general principles of the treaty, such as education and mutual understanding. In addition, the creditor declares that it will not provide additional information that could affect the debtor`s credit information. DEBT RECOGNITION. The debtor agrees and acknowledges that he is fully liable to the creditor. This agreement serves to negotiate and compromise a debt under the following conditions: in the event of late payment, the above-mentioned repayment plan automatically becomes null and void and the total amount of the outstanding amount due to the creditor is therefore immediately repaid. In addition, the buyer automatically pays the creditor default interest in the amount of ___ [rate equivalent to at least three times the annual legal rate in force in France] and a minimum compensation of 40 (forty) euros at immediate maturity, without the need for a warning. The creditor also has the right to terminate the new sales contract concluded with the buyer, notwithstanding the other provisions of the aforementioned franchise agreement. Lending money to someone, whether it`s an individual or a company, is always a risky business. Due to the uncertainty in the movement of market forces, there is never any guarantee that you will get the full amount of the loan back.
On the contrary, in most cases, the recovery of credit does not take place. The debtor is usually fixed at the time of repayment. This, however, led to the creation of the concept of “debt settlement”. – they will keep the creditor free from any act or claim related to the contract concluded between the debtor and the buyer. This debt settlement agreement (the “Agreement”) sets out the terms that govern the contractual agreement between [the company] having its registered office [address] (the debtor) and [company] having its registered office [address] (the “creditors”) that agree to be bound by this agreement. . . .