Agreement to Extend Debt Payment

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Date

{{date}}

Creditor Information

Creditor Name: {{creditor_name}}

Creditor Address: {{creditor_address}}

Creditor Contact Person: {{creditor_contact_person}}

Creditor Contact Number: {{creditor_contact_number}}

Debtor Information

Debtor Name: {{debtor_name}}

Debtor Address: {{debtor_address}}

Debtor Contact Person: {{debtor_contact_person}}

Debtor Contact Number: {{debtor_contact_number}}

Original Debt Details

Original Debt Amount: {{original_debt_amount}}

Original Due Date: {{original_due_date}}

Description of Original Debt (e.g., invoice number, loan agreement reference): {{original_debt_description}}

Agreement to Extend Payment

This Agreement to Extend Debt Payment (the 'Agreement') is made and entered into on this {{date_of_agreement}} day of {{month_of_agreement}}, {{year_of_agreement}}, by and between the Creditor and the Debtor. The parties hereby agree to extend the payment due date for the outstanding debt as described above, under the terms and conditions outlined herein.

New Payment Terms

New Due Date: {{new_due_date}}

New Payment Schedule (if applicable, e.g., instalments): {{new_payment_schedule}}

Interest Rate (if applicable, for extended period): {{interest_rate}}% per annum

Any additional fees or penalties for the extension (if applicable): {{extension_fees}}

Acknowledgment and Agreement

The Debtor acknowledges the outstanding debt and agrees to repay the full amount, including any agreed-upon interest or fees, by the new due date(s) specified. The Creditor agrees to temporarily suspend any collection activities contingent on the Debtor adhering to the new payment terms. All other terms and conditions of the original debt agreement remain in full force and effect, except as expressly modified by this Agreement.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of South Africa, or the relevant Southern African jurisdiction where the debt originated or where both parties primarily conduct business, without regard to its conflict of law principles.

Signatures

___________________________

Creditor Signature

{{creditor_name}}

{{date_signed_creditor}}

___________________________

Debtor Signature

{{debtor_name}}

{{date_signed_debtor}}