The Delayed Payment Agreement is essential in Philippine business operations when a debtor requires modification of original payment terms due to financial constraints or business circumstances. This document is commonly used when parties wish to maintain their business relationship while accommodating payment difficulties, providing a structured approach to debt resolution. The agreement must comply with Philippine civil law, banking regulations, and the Truth in Lending Act, particularly regarding interest rate caps and disclosure requirements. It serves as a legally binding modification of the original payment terms, protecting both creditor and debtor interests while establishing clear consequences for non-compliance. The document is particularly relevant in times of economic uncertainty or when businesses face temporary cash flow challenges.
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 the creditor and debtor, including their legal addresses
2. Background: Explains the context of the original debt and the reason for the delayed payment arrangement
3. Definitions: Defines key terms used throughout the agreement
4. Original Debt Amount: States the principal amount owed and its origin
5. Payment Terms: Details the revised payment schedule, including installment amounts and due dates
6. Interest Rate: Specifies the interest rate applied to the delayed payments, ensuring compliance with BSP regulations
7. Default Provisions: Outlines what constitutes default and its consequences
8. Representations and Warranties: Standard declarations by both parties regarding their capacity to enter into the agreement
9. Notices: Specifies how formal communications between parties should be made
10. Governing Law and Jurisdiction: Confirms Philippine law governs the agreement and specifies jurisdiction for disputes
1. Security/Collateral: Include when the delayed payment is secured by specific assets or guarantees
2. Acceleration Clause: Include when early repayment options or acceleration upon default are permitted
3. Insurance Requirements: Include when insurance is required for any collateral or the debtor's life
4. Credit Reporting: Include when parties agree to specific terms about credit information reporting
5. Force Majeure: Include when parties want to address circumstances that may prevent payment due to unforeseen events
6. Assignment Rights: Include when either party may need to transfer their rights under the agreement
1. Schedule A - Payment Schedule: Detailed breakdown of payment dates, amounts, and running balance
2. Schedule B - Interest Calculation Method: Detailed explanation of how interest is calculated and applied
3. Schedule C - Collateral Details: If applicable, detailed description of any security or collateral
4. Appendix 1 - Original Debt Documentation: Copies or references to the original debt agreement or invoices
5. Appendix 2 - Corporate Authorizations: If applicable, corporate resolutions or authorizations for entering into the agreement
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Real Estate
Manufacturing
Retail
Construction
Professional Services
Healthcare
Technology
Agriculture
Education
Relevant Teams
Legal
Finance
Treasury
Credit Control
Accounts Receivable
Risk Management
Collections
Corporate Secretariat
Business Operations
Compliance
Relevant Roles
Chief Financial Officer
Finance Manager
Credit Controller
Accounts Receivable Manager
Legal Counsel
Corporate Secretary
Treasury Manager
Collections Manager
Risk Manager
Business Development Manager
Contract Administrator
Financial Analyst
Debt Recovery Specialist
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)