The Promissory Payment Agreement is a crucial financial document used in the Philippines when one party commits to paying a specific sum of money to another party under defined terms. It is commonly used in business transactions, loans, installment purchases, and debt restructuring arrangements. The document must comply with Philippine civil law requirements and financial regulations, including the Civil Code of the Philippines and relevant banking regulations. This agreement type is particularly important in establishing legally enforceable payment obligations and should include clear payment terms, interest rates (if applicable), default provisions, and remedies. The document requires proper execution, typically including notarization, to ensure its validity under Philippine law. It serves both as a formal acknowledgment of debt and a legally binding commitment to repay.
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 defines the Promisor (debtor) and Promisee (creditor) with complete legal names and addresses
2. Background: Explains the context of the debt obligation and the relationship between the parties
3. Definitions: Defines key terms used throughout the agreement
4. Promise to Pay: States the principal amount owed and the unconditional promise to pay
5. Payment Terms: Details the payment schedule, including amount, frequency, and due dates
6. Interest Rate: Specifies the applicable interest rate and calculation method
7. Method of Payment: Describes acceptable payment methods and payment processing details
8. Default and Remedies: Defines events of default and outlines the creditor's remedies
9. Representations and Warranties: States the parties' assertions regarding their capacity and authority to enter the agreement
10. Governing Law: Specifies Philippine law as governing law and jurisdiction
11. Execution: Signature blocks and execution requirements
1. Security: Include when the promise to pay is secured by collateral or guarantees
2. Prepayment Terms: Include when early payment is allowed, specifying any penalties or benefits
3. Late Payment Penalties: Include when specific penalties for late payment are to be imposed
4. Assignment: Include when transfer rights of the agreement need to be specified
5. Force Majeure: Include when circumstances beyond control affecting payment need to be addressed
6. Acceleration Clause: Include when immediate payment of entire amount can be demanded upon specific triggers
7. Co-signers: Include when there are additional parties guaranteeing the payment
1. Payment Schedule: Detailed amortization table showing payment dates, principal, and interest breakdown
2. Security Details: Description and documentation of any collateral or security provided
3. Proof of Debt: Documentation evidencing the original debt or consideration
4. Identity Documents: Copies of valid government IDs and documentation of parties' legal capacity
5. Notarial Certificate: Required notarial acknowledgment forms for Philippine execution
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Real Estate
Retail
Manufacturing
Construction
Professional Services
Agriculture
Technology
Healthcare
Education
Small and Medium Enterprises
Relevant Teams
Legal
Finance
Treasury
Credit Control
Compliance
Risk Management
Collections
Corporate Secretariat
Accounts Receivable
Contract Administration
Relevant Roles
Chief Financial Officer
Finance Manager
Credit Controller
Accounts Receivable Manager
Legal Counsel
Compliance Officer
Contract Administrator
Treasury Manager
Risk Manager
Collections Specialist
Financial Analyst
Business Development Manager
Corporate Secretary
Loan Officer
Credit 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.
find out more
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.
find out more
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.
find out more
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.
find out more
Promissory Payment Agreement
A Philippine law-governed agreement documenting a formal promise to pay a specified sum under defined terms and conditions.
find out more
Cash Payment Agreement Letter
A formal letter agreement under Philippine law documenting the terms and conditions of a cash payment arrangement between parties.
find out more
Repayment Agreement Form
A Philippine-compliant legal document establishing terms and conditions for debt repayment, including payment schedule, interest rates, and default provisions.
find out more
Employee Payment Agreement
A legally binding agreement under Philippine law that outlines employee compensation terms, including salary, benefits, and payment conditions.
find out more
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.
find out more
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.
find out more
Agreement To Pay
A Philippine law-governed agreement that establishes legally binding payment obligations between parties, including payment terms and enforcement mechanisms.
find out more
Back Rent Payment Agreement
A Philippine-law governed agreement that establishes payment terms and conditions for overdue rent between landlord and tenant.
find out more
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.
find out more
Interim Payment Agreement
A Philippine law-governed agreement establishing temporary payment arrangements between parties, including payment schedules, amounts, and terms.
find out more
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.
find out more
Debt Payment Agreement
A Philippine law-governed agreement that formalizes debt repayment terms between creditor and debtor, including payment schedule and default provisions.
find out more
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.
find out more
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.
find out more
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.
find out more
Collection Payment Agreement Letter
A legally binding document under Philippine law that formalizes debt collection terms and payment arrangements between creditor and debtor.
find out more
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.
find out more
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.
find out more
Payment Takeover Contract
A Philippine law-governed agreement that transfers payment obligations from one party to another, with creditor consent and defined payment terms.
find out more
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.
find out more
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.
find out more
Rental Agreement Advance Payment
Philippine-compliant rental agreement template with advance payment provisions, structured to protect both lessor and lessee interests under Philippine law.
find out more
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.
find out more
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.
find out more
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.
find out more
Non Payment Agreement
A Philippine law-governed agreement establishing terms for the suspension or modification of payment obligations between creditor and debtor.
find out more
Lot Payment Agreement
A Philippine law-compliant agreement governing the installment purchase of a lot, incorporating Maceda Law protections and local property regulations.
find out more
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.
find out more
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.
find out more
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.
find out more
Down Payment Contract
A Philippine law-compliant contract establishing terms for partial advance payment in purchase transactions, including payment schedules and party obligations.
find out more
Delayed Payment Agreement
A Philippine law-governed agreement establishing revised payment terms for existing debt, including payment schedule, interest rates, and default provisions.
find out more
Commission Payment Agreement
A Philippine law-governed agreement establishing commission payment terms and conditions between a company and its sales representatives or agents.
find out more
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.
find out more
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.
find out more
Arrears Repayment Agreement
A Philippine law-governed agreement establishing structured payment terms for outstanding debts, detailing repayment schedules and conditions between creditor and debtor.
find out more
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)