A g r e e m e n t

This Agreement to Compromise Debt is made and effective on this

________________,

BETWEEN:

AND:

In consideration of the terms and conditions of this agreement, and other

valuable considerations, the parties mentioned above agreed to the
following:
1. That the Creditor and Debtor acknowledge that the present debt due is
_____________
_____________________________ (____________ PhP);
2. That the Debtor shall pay the partial or full amount of the present debt
in a punctual manner on the following payment terms:
___________________________________________________________________;
___________________________________________________________________;
___________________________________________________________________;
3. In the event that the Debtor fails to settle the debt in accordance with
the payment terms indicated above, the Creditor will not hesitate to
file the corresponding legal actions against the Debtor and demand for
damages that will arise from the breach of this agreement, all in
accordance with the law; and
4. This agreement binds the two parties mentioned above and any breach
of the same shall be dealt with the sanctions demandable under the
law.

Signed this _____ day of ___________, _________.

A g r e e m e n t
CREDITOR

DEBTOR