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1. Parties: Identification and details of all parties involved in the agreement, including their legal names, addresses, and registration details if applicable
2. Background: Context of the agreement, including the original debt or obligation and the reason for establishing a payment plan
3. Definitions: Definitions of key terms used throughout the agreement
4. Payment Terms: Detailed structure of the payment plan, including installment amounts, payment frequency, and payment methods
5. Payment Schedule: Specific dates or intervals when payments are due
6. Interest and Charges: Details of any interest, late payment fees, or additional charges applicable
7. Default Provisions: Consequences and remedies in case of payment default
8. Representations and Warranties: Statements of fact and promises made by both parties regarding their capacity and intention to fulfill the agreement
9. Notices: How and where official communications between parties should be sent
10. Governing Law and Jurisdiction: Specification of Pakistani law as governing law and relevant jurisdiction for disputes
11. Execution: Signature blocks and execution requirements including witness provisions
1. Security Provisions: Include when the payment plan is secured by collateral or guarantees
2. Acceleration Clause: Include when early payment of the entire amount may be required under specific circumstances
3. Insurance Requirements: Include when insurance is required to secure the payment obligation
4. Refinancing Options: Include when there's a possibility of refinancing or restructuring the payment plan
5. Electronic Payment Terms: Include when payments will be made electronically
6. Force Majeure: Include when specific circumstances might affect the ability to make payments
7. Debt Acknowledgment: Include when there's a need to formally acknowledge the original debt
8. Confidentiality: Include when payment terms should remain confidential
1. Schedule A - Payment Schedule: Detailed breakdown of payment dates, installment amounts, and running balance
2. Schedule B - Original Debt Documentation: Copy or summary of the original debt agreement or invoice
3. Schedule C - Collateral Details: Description and documentation of any security or collateral (if applicable)
4. Schedule D - Bank Account Details: Specified bank accounts for making and receiving payments
5. Appendix 1 - Calculation of Interest: Methodology and examples of interest calculations
6. Appendix 2 - Default Notice Template: Standard form for notification of default
7. Appendix 3 - Payment Confirmation Form: Template for acknowledging receipt of payments
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