Acknowledgement of Debt – by an Employee

R 397,00

This Acknowledgement of Debt may be considered for use where a debt is owed by an employee to the employer. An Acknowledgement of Debt can be used to acknowledge and confirm that a debt is due, and to specify that the debt is payable in a number of instalments.

Category:

Description

ACKNOWLEDGEMENT OF DEBT

By an Employee

Summary This Acknowledgement of Debt may be considered for use where a debt is owed by an employee to the employer. An Acknowledgement of Debt can be used to acknowledge and confirm that a debt is due, and to specify that the debt is payable in a number of instalments.

Why do I need an Acknowledgement of Debt? If you have employees that owe the company money, this Acknowledgement of Debt may be used to specify the amount owed and the agreed payment terms. An Acknowledgement of Debt confirms that the employee owes the employer a debt, and sets out an undertaking by the Employee to pay the debt in regular instalments at agreed intervals. The Acknowledgement of Debt also provides for an authority for the employer to deduct the agreed instalments from the employee’s salary.

What does the Acknowledgement of Debt say? The Acknowledgement sets out: The Employee’s details; The amount of the debt; The repayment details; Authorisation to deduct from salary; Default and costs.

What does the Acknowledgement of Debt look like? The agreement can be printed onto three pages.

What do you need to do to use the Acknowledgement of Debt?

  • Read the document to ensure that it suits your requirements. Make changes as required.
  • Complete the relevant details, and get the Employee to sign.

Also known as: Payment Undertaking; AOD; Employee Payment Undertaking; Employee AOD; Staff Payment Undertaking; Staff AOD; Staff Acknowledgement of DebtIf this transaction is subject to the National Credit Act 34 of 2005 then a specialist’s advice should be sought.

 

The Online Agreements Shop cc and its members, staff, legal advisers, partners and consultants, agents and any person associated therewith cannot be held liable for any loss or damage that is incurred or may be incurred by any person as a direct or indirect result of the use of this website or any document or information contained on or obtained from this website, nor as a result of anything that is contained in or left out of any document.

Reviews

There are no reviews yet.

Be the first to review “Acknowledgement of Debt – by an Employee”

Your email address will not be published. Required fields are marked *

Pin It on Pinterest

Share This