Acknowledgement of Debt – more than 1 debtor, single payment

Acknowledgement of Debt - more than 1 debtor, single payment

Summary

This Acknowledgement of Debt can be used where a debt is owed by more than 1 person, where all the debtors are liable for paying the debt. This Acknowledgement of Debt is a confirmation of the debt that is due, and specifies that the debt is payable on an identified date in a single payment.  

More information

The Acknowledgement of Debt confirms that a debt is due, and constitutes an undertaking by the Debtors to pay the debt on a particular date. If the debt is not paid on that date, the creditor can use the Acknowledgement of Debt to take further action.

If your business has debtors that owe money, this Acknowledgement of Debt can be used to confirm the amount owed and the agreed payment date.

What does the Acknowledgement of Debt say?
The Acknowledgement consists of:

The agreement can be printed onto one A4 page.