The Full Payment Agreement is a crucial legal document used in the Philippines when parties need to formalize the complete settlement of a debt or financial obligation. It is commonly used in situations where a debtor agrees to pay off an outstanding amount in full, either immediately or according to a specified schedule. The agreement provides legal certainty by clearly documenting the payment terms, the parties' obligations, and the consequences of payment completion. This document type is particularly important in the Philippine business environment, where it helps ensure compliance with local contract law, banking regulations, and tax requirements. It can be used for various scenarios, from commercial debt settlements to individual payment arrangements, and typically includes provisions for payment mechanics, acknowledgment of debt, and release terms upon completion.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identifies and provides full details of all parties to the agreement, including their legal names, addresses, and registration details if applicable
2. Background: Outlines the context of the agreement, including the origin of the debt or obligation and any previous arrangements between the parties
3. Definitions: Defines key terms used throughout the agreement to ensure clarity and prevent misinterpretation
4. Payment Amount and Details: Specifies the total amount to be paid, including any interest, penalties, or other charges that form part of the full payment
5. Payment Terms: Details the method, timing, and currency of payment, including bank account details or other payment mechanisms
6. Acknowledgment of Debt: Formal acknowledgment of the original debt or obligation by the paying party
7. Release and Discharge: Specifies the terms of release from obligations upon full payment
8. Representations and Warranties: Statements by both parties regarding their capacity to enter into the agreement and the validity of the debt
9. Governing Law: Explicitly states that Philippine law governs the agreement
10. Execution: Signature blocks and execution requirements in accordance with Philippine law
1. Security Provisions: Include when the payment is secured by collateral or guarantees
2. Default Provisions: Include when there needs to be specific consequences for failure to make the agreed payment
3. Tax Provisions: Include when there are specific tax implications that need to be addressed
4. Confidentiality: Include when the payment terms or existence of the agreement needs to be kept confidential
5. Force Majeure: Include when there needs to be provision for circumstances that might prevent payment
6. Electronic Payment Terms: Include when payments will be made electronically
7. Currency Exchange Provisions: Include when payment involves foreign currency
8. Dispute Resolution: Include when specific dispute resolution mechanisms are required beyond standard court proceedings
1. Payment Schedule: Detailed breakdown of payment amount, including any interest calculations or fee components
2. Original Debt Documentation: Copies of documents evidencing the original debt or obligation
3. Security Documentation: Details of any security or collateral provided
4. Bank Account Details: Complete banking information for payment processing
5. Corporate Authorizations: If parties are corporations, relevant board resolutions or authorizations
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Real Estate
Construction
Manufacturing
Retail
Professional Services
Technology
Healthcare
Education
Telecommunications
Energy & Utilities
Agriculture
Logistics & Transportation
Relevant Teams
Legal
Finance
Accounts Receivable
Treasury
Credit Control
Risk Management
Collections
Corporate Affairs
Compliance
Operations
Relevant Roles
Chief Financial Officer
Finance Director
Accounts Receivable Manager
Credit Controller
Legal Counsel
Corporate Lawyer
Treasury Manager
Financial Controller
Collections Manager
Risk Manager
Debt Recovery Specialist
Contract Administrator
Company Secretary
Business Development Manager
Financial Analyst
Find the exact document you need
Contract Of Agreement To Pay
A Philippine legal document establishing binding payment obligations between parties, detailing payment terms and conditions under Philippine law.
Download
Car Accident Payment Agreement Letter
A Philippine law-governed document that formalizes payment terms between parties involved in a vehicular accident, establishing a legally binding settlement agreement.
Download
Installment Agreement (Real Estate)
A Philippine law-compliant agreement for the sale of real estate property through structured installment payments, incorporating protections under the Maceda Law.
Download
Partial Payment Agreement Letter
A Philippine law-governed letter agreement establishing terms for partial payment of an outstanding debt, including payment schedule and default provisions.
Download
Promissory Payment Agreement
A Philippine law-governed agreement documenting a formal promise to pay a specified sum under defined terms and conditions.
Download
Cash Payment Agreement Letter
A formal letter agreement under Philippine law documenting the terms and conditions of a cash payment arrangement between parties.
Download
Repayment Agreement Form
A Philippine-compliant legal document establishing terms and conditions for debt repayment, including payment schedule, interest rates, and default provisions.
Download
Employee Payment Agreement
A legally binding agreement under Philippine law that outlines employee compensation terms, including salary, benefits, and payment conditions.
Download
Final Payment Contract
A legally binding document under Philippine law that formalizes the final payment terms and mutual releases between parties, ensuring proper closure of business obligations.
Download
Car Down Payment Agreement Form
A Philippine-compliant legal document that outlines the terms and conditions of a vehicle down payment between seller and buyer.
Download
Agreement To Pay
A Philippine law-governed agreement that establishes legally binding payment obligations between parties, including payment terms and enforcement mechanisms.
Download
Back Rent Payment Agreement
A Philippine-law governed agreement that establishes payment terms and conditions for overdue rent between landlord and tenant.
Download
Money Contract
A Philippine law-governed agreement establishing terms and conditions for monetary lending between parties, including loan amount, interest, repayment schedule, and security arrangements.
Download
Interim Payment Agreement
A Philippine law-governed agreement establishing temporary payment arrangements between parties, including payment schedules, amounts, and terms.
Download
Payment Agreement Contract For Car Accident
A Philippine law-governed agreement that establishes payment terms and conditions between parties involved in a vehicular accident settlement.
Download
Debt Payment Agreement
A Philippine law-governed agreement that formalizes debt repayment terms between creditor and debtor, including payment schedule and default provisions.
Download
Auto Payment Contract
A Philippine law-governed Auto Payment Contract establishing terms for recurring automatic payment arrangements, compliant with local banking and electronic commerce regulations.
Download
Debt Release Agreement
A legally binding agreement under Philippine law that releases and discharges debt obligations between parties, providing finality and certainty to debt settlement arrangements.
Download
Contract For Car Accident Payment
A Philippine-jurisdiction agreement outlining terms and conditions for monetary settlement of vehicular accident claims, including payment obligations and liability release.
Download
Collection Payment Agreement Letter
A legally binding document under Philippine law that formalizes debt collection terms and payment arrangements between creditor and debtor.
Download
Advance Payment Agreement Letter
A Philippine law-governed letter agreement that establishes terms and conditions for advance payments between parties, including payment details and security arrangements.
Download
Employee Repayment Agreement
A Philippine-compliant agreement establishing terms for an employee's repayment of funds to their employer, including payment schedule and enforcement provisions.
Download
Payment Takeover Contract
A Philippine law-governed agreement that transfers payment obligations from one party to another, with creditor consent and defined payment terms.
Download
Letter Of Agreement For Payment Of Lot
A Philippine legal document establishing terms and conditions for lot payment between buyer and seller, including purchase price, payment schedule, and default provisions.
Download
Simple Payment Agreement Letter
A legally binding document under Philippine law that establishes payment terms and conditions between parties for settling a debt or obligation.
Download
Rental Agreement Advance Payment
Philippine-compliant rental agreement template with advance payment provisions, structured to protect both lessor and lessee interests under Philippine law.
Download
Payment Agreement Letter
A legally binding document used in the Philippines that establishes payment terms and conditions between a creditor and debtor, compliant with Philippine contract law.
Download
Partial Payment Agreement For Lot
A Philippine law-compliant agreement for the purchase of a lot through installment payments, outlining payment terms and conditions for property transfer.
Download
Loan Repayment Agreement Letter
A formal document under Philippine law establishing terms and conditions for loan repayment between lender and borrower, ensuring legal compliance and protection for all parties.
Download
Non Payment Agreement
A Philippine law-governed agreement establishing terms for the suspension or modification of payment obligations between creditor and debtor.
Download
Lot Payment Agreement
A Philippine law-compliant agreement governing the installment purchase of a lot, incorporating Maceda Law protections and local property regulations.
Download
Land Payment Agreement Letter
A formal document used in the Philippines that outlines payment terms and conditions for land acquisition, complying with Philippine property law.
Download
Independent Contractor Payment Agreement
A Philippine law-governed agreement establishing payment terms and conditions between a client and independent contractor, including compensation structure and compliance requirements.
Download
Final Payment Agreement
A legally binding document under Philippine law that establishes terms for settling outstanding financial obligations and provides for debt discharge upon final payment.
Download
Down Payment Contract
A Philippine law-compliant contract establishing terms for partial advance payment in purchase transactions, including payment schedules and party obligations.
Download
Delayed Payment Agreement
A Philippine law-governed agreement establishing revised payment terms for existing debt, including payment schedule, interest rates, and default provisions.
Download
Commission Payment Agreement
A Philippine law-governed agreement establishing commission payment terms and conditions between a company and its sales representatives or agents.
Download
Car Payment Takeover Agreement
A Philippine law-governed agreement facilitating the transfer of car loan payment obligations from an original buyer to a new buyer, ensuring legal compliance and protecting all parties' interests.
Download
Bill Of Sale Agreement With Payments
A Philippine law-governed agreement for property sales with structured payment terms, combining a bill of sale with installment payment provisions.
Download
Arrears Repayment Agreement
A Philippine law-governed agreement establishing structured payment terms for outstanding debts, detailing repayment schedules and conditions between creditor and debtor.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)