Debt Settlement Agreement
The Debt Settlement Agreement is used for the settlement of a debt(s) owed to a Lender and defines the principal amount owed to the Lender including all accrued and unpaid interest, if applicable. The precedent provides for payment due date as well as frequency options such as one lump sum payment or payments to be made in monthly installments. The Debt Settlement Agreement also contains mutual release clauses, enforcement clause, dispute resolution clause, delivery of notices, confidentiality clause and a counterpart clause.
SOURCE: Debt Settlement Agreement