Debt Settlement Agreement - FOLIO Ontology

Identification

IRI:

https://folio.openlegalstandard.org/R8Z8mgzQJKr4AXj2mEJg2ST

Label Debt Settlement Agreement

Preferred Label N/A

Identifier N/A

Alternative Labels

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Definition

A Debt Settlement Agreement is a legally binding contract between a debtor and a creditor that outlines the terms for resolving a debt for less than the original amount owed. The agreement specifies the reduced amount to be paid, the schedule for payment, and conditions under which the remaining debt will be forgiven or considered settled.

Class Relationships

Sub Class Of

• Debt Supplemental Agreement

Is Defined By

N/A

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Additional Information

Metadata

Comment

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Description

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Notes

• None

Editorial Information

History Note

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Editorial Note

None

Deprecated

No

Source and Origin

No source or origin information available