ACKNOWLEDGEMENT OF DEBT

I, the undersigned,

ID NUMBER:
OF:
CELL:

In my personal capacity (hereinafter referred to as the “Debtor”) do hereby admit that I am liable
and hold myself bound to;

(Hereinafter referred to as the Creditor)

OF:
CELL:
In the sum of US$3 589.00 cash (Three Thousand Five Hundred and Eighty-Nine United States
Dollars) being the amount given to me by the creditor.

1. Payment
The debtor agrees and undertakes to pay the stated amount in on or before the
_________________________. The debtor shall make the payment due to the Creditor
under this acknowledgment without set-off or deduction and free of bank exchange on the
due date by way of cash payment.
The payment must be made to the creditor at the above provided address of the creditor.
Interest to the capital sum shall start to run after the expiry of the agreed due date
at the rate of 15% per month.
2. Default
Should the debtor default on payment on the due date, the Creditor shall be entitled to
institute legal proceedings against it, claiming the full outstanding amount, without any
notice to the debtor.
The debtor acknowledges that such payment will be allocated first to any legal costs and
any collection charges incurred in enforcing this acknowledgment of Debt and then the
balance to the capital sum.
3. Acceleration
 Nothing herein contained shall be interpreted as precluding the debtor from accelerating
the payment due in respect of the debt, or from paying the same in full at any time prior to
the due date of payment.
4. Waiver
No relaxation of the terms hereof, indulgences, extensions of the time or consent to part-
payment granted by the creditor or its attorney or agent shall constitute a variation or
novation of the terms or conditions hereof, or a waiver or estoppel of the creditor’s rights
herein.
5. Jurisdiction
The Creditor may choose in which court to institute any proceedings connected with this
acknowledgment, and may proceed against the debtor on any existing court papers or
otherwise. He consents to the jurisdiction of the Magistrates Court in Harare.
6. General
This acknowledgment contains the entire undertaking by the debtor to the creditor
regarding the subject matter of this acknowledgement and any promises, undertaking,
representations or warranties alleged at any time by the debtor, ought to have been made
by or on behalf of the creditor, that are not contained herein shall not bind or be
enforceable against the creditor in any manner whatsoever.
Save where the creditor is entitled as herein provided to vary the terms hereof, no
amendments or modifications or waivers of all or any of the terms or conditions of this 4
acknowledgment shall be of any force and effect unless consented to before-hand in
writing by the creditor.

SIGNED AND ENTERED INTO ON THIS DAY OF JANUARY 2023

As Witnesses.
1………………………………..
…………………………..
Debtor
2……………………………………
A Witnesses

1………………………………….

…………………………
Creditor

2………………………………….