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1. Parties: Identifies the judgment creditor and judgment debtor, including their full legal names and addresses
2. Background: References the original judgment (including court, date, case number, and amount), current amount owing including interest, and parties' desire to settle
3. Definitions: Defines key terms used in the agreement, including 'Judgment', 'Settlement Amount', 'Payment Plan', and 'Default'
4. Settlement Amount: Specifies the agreed settlement amount and how it relates to the original judgment amount
5. Payment Terms: Details the payment schedule, method of payment, and payment instructions
6. Representations and Warranties: Each party's confirmations regarding their authority and capacity to enter into the agreement
7. Default Provisions: Defines what constitutes default and consequences, including revival of original judgment amount
8. Release: Terms of release upon full payment of settlement amount
9. Governing Law: Confirms applicable law and jurisdiction
10. Entire Agreement: Standard integration clause confirming this agreement represents complete understanding
11. Execution: Signature blocks and execution requirements
1. Security: Include when settlement is secured by assets or guarantees
2. Confidentiality: Include when parties wish to keep settlement terms private
3. Tax Implications: Include when settlement has significant tax consequences requiring acknowledgment
4. Insurance Provisions: Include when settlement involves insurance payments or requirements
5. Reporting Obligations: Include when debtor must provide financial reports or updates
6. Assignment: Include when rights under the settlement may need to be assigned
7. Third Party Rights: Include when settlement affects rights of third parties
8. Survival: Include when certain provisions should survive termination
9. Force Majeure: Include when long-term payment plans might be affected by extraordinary circumstances
1. Schedule A - Payment Plan: Detailed payment schedule including dates, amounts, and payment methods
2. Schedule B - Original Judgment: Copy of the original judgment being settled
3. Schedule C - Security Documents: Details of any security provided for the settlement payments
4. Schedule D - Financial Disclosure: Debtor's financial information supporting payment plan feasibility
5. Appendix 1 - Interest Calculations: Detailed calculations of interest accrued on original judgment
6. Appendix 2 - Release Documents: Forms of release to be filed upon completion of settlement
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Treasury
Accounts Receivable
Corporate Secretariat
Credit Management
Debt Recovery
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Collections Manager
Credit Manager
Financial Controller
Chief Financial Officer
Risk Manager
Compliance Officer
Treasury Manager
Accounts Receivable Manager
Settlement Officer
Debt Recovery Specialist
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