Document background
The Repayment Agreement is typically used when formalizing arrangements for the repayment of an existing debt under Swiss law. This document becomes necessary in various scenarios, such as restructuring existing loans, consolidating multiple debts, or establishing payment plans for outstanding obligations. The agreement must comply with Swiss federal legislation, particularly the Code of Obligations (OR) and, where applicable, the Federal Act on Consumer Credit (KKG). It includes essential elements such as the acknowledged debt amount, repayment schedule, interest calculations, and consequences of default. This type of agreement is particularly important in Switzerland's financial landscape, where clear documentation of debt obligations is crucial for both legal certainty and potential enforcement proceedings.
