AGREEMENT TO COMPROMISE DEBT
The undersigned, a creditor of
_________________________ (Company) hereby agrees to compromise the
indebtedness due by the undersigned on the following terms and conditions:
1. The
Company and the undersigned agree that the recent debt due is _____________
($________).
2. The
parties agree that the undersigned shall accept the sum of _________________
($________) as full payment on said debt and in complete discharge of all
monies due, provided the sum herein shall be promptly paid in the following
manner: ___________________________________________________________________
3. In the
event the Company fails to promptly pay the compromised amount, the undersigned
creditor shall have the right to prosecute its claim for the total amount shown
above less any payments made.
4. This
Agreement shall be binding upon and inure to the benefit of the parties, their
successors and assigns.
Signed and sealed this ____ day of ___________
(month), ___ (year).
_________________________________ __________________
Signature
Date
