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    UK Agreement to Compromise Debt


    If a customer owes you money and you are willing to accept payment of a lesser sum in order to settle the debt, you can sign this Agreement to Compromise Debt with the customer.

    • The creditor agrees to accept the lesser sum from the debtor as payment in full.
    • The agreement is conditioned upon the provision that the sum must be paid within a specified time period.
    • If the customer fails to do so, the creditor will have the right to sue the debtor for the full amount of the debt.
    • The agreement is governed by English law and can be used throughout the United Kingdom.

    If your business extends credit to customers, you should have a copy of the UK Agreement to Compromise Debt. Download yours now.

    Download Type: Microsoft Word
    Last Updated: 14-April-2016
    SKU: 7403
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