Acceptance of Partial Payment of Debt
Settlement Agreement
Agreement made on the (date), between (Name of Claimant), a corporation organized
and existing under the laws of the state of ______________, with its principal office located at
(street address, city, state, zip code), referred to herein as Claimant, and (Name of Debtor), a
corporation organized and existing under the laws of the state of ______________, with its
principal office located at (street address, city, state, zip code), referred to herein as Debtor.
Whereas, Claimant asserts a claim against Debtor for $_________ plus interest at the
rate of _____% from (date) for (description of claim); and
Whereas, Debtor acknowledges the existence of an indebtedness to Claimant, but
disputes the amount of the indebtedness;
Now, therefore, for and in consideration of the mutual covenants contained in this
Agreement, and other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the parties agree as follows:
1. Acceptance of Partial Payment
A compromise and settlement of the recited indebtedness has been negotiated between
the parties un