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The Agreement Letter For Partial Payment is a crucial document used in the United Arab Emirates when parties need to formalize an arrangement for settling an outstanding debt through partial payments or installments. This document type is particularly relevant in situations where the debtor cannot fulfill the entire payment obligation immediately but is willing to commit to a structured payment plan. The letter serves as a legally binding document under UAE law, incorporating essential elements required by UAE Federal Laws, including the Civil Code (UAE Federal Law No. 5 of 1985) and Commercial Code (UAE Federal Law No. 18 of 1993). It provides protection for both creditor and debtor by clearly documenting the agreed payment terms, schedule, and consequences of default, while maintaining the enforceability of the original debt obligation.

1. Letterhead and Date: Official letterhead of the creditor company and date of the letter

2. Parties' Details: Full legal names, addresses, and contact information of both creditor and debtor

3. Reference Line: Reference to original debt/invoice numbers and dates

4. Subject Line: Clear indication that this is a Partial Payment Agreement

5. Acknowledgment of Debt: Statement of the total outstanding amount and acknowledgment by the debtor

6. Payment Terms: Detailed breakdown of the agreed partial payment schedule

7. Bank Details: Creditor's bank account information for payments

8. Legal Effect: Statement on the binding nature of the agreement under UAE law

9. Signature Block: Space for signatures of both parties with dates