tiktok³ÉÈË°æ

All Countries
Banking
Debt Release Agreement

Debt Release Agreement Template for Malaysia

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Debt Release Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Debt Release Agreement

"I need a Debt Release Agreement for releasing a corporate debt of RM 500,000 owed by ABC Manufacturing Sdn Bhd to our company, with the release to take effect from March 15, 2025, following their successful debt restructuring program."

Celebrated by
Collaborations with
Investors
Document background
The Debt Release Agreement is a crucial legal instrument used in Malaysian business and financial transactions when a creditor agrees to formally discharge a debtor from their payment obligations. This document is particularly important in debt restructuring, settlement negotiations, or when closing business relationships. It must comply with Malaysian legislation, including the Contracts Act 1950 and Stamp Act 1949, and typically includes details of the original debt, terms of release, and any conditions attached to the release. The agreement is commonly used in various scenarios such as corporate debt settlements, individual debt resolution, or as part of broader business wind-down processes. It provides legal protection for both parties by clearly documenting the terms of the release and preventing future claims related to the released debt.
Suggested Sections

1. Parties: Identifies and defines all parties to the agreement - the creditor, debtor, and any guarantors

2. Background: Recitals explaining the original debt, its current status, and the intention to release

3. Definitions: Defines key terms used throughout the agreement including 'Debt', 'Release Date', and other relevant terms

4. Acknowledgment of Debt: Confirms the original debt amount and any accrued interest or charges

5. Release Terms: Specifies the exact terms of the debt release, including the extent of release and effective date

6. Effect of Release: Details the legal consequences of the release and confirms the termination of obligations

7. Representations and Warranties: Statements by both parties regarding their authority and capacity to enter into the agreement

8. Governing Law and Jurisdiction: Specifies Malaysian law as governing law and jurisdiction for disputes

9. Execution: Signature blocks and execution requirements

Optional Sections

1. Conditions Precedent: Used when the release is conditional upon certain events or actions

2. Partial Release Provisions: Required when only part of the debt is being released

3. Security Discharge: Included when there are existing security interests that need to be discharged

4. Confidentiality: Added when parties wish to keep the release terms confidential

5. Tax Implications: Required when there are significant tax consequences to address

6. Third Party Rights: Needed when the release affects guarantors or other third parties

7. Settlement Terms: Used when the release is part of a broader settlement arrangement

Suggested Schedules

1. Schedule 1 - Details of Original Debt: Lists all relevant details of the debt being released including date, amount, and terms

2. Schedule 2 - Related Security Documents: Lists any security documents affected by the release

3. Schedule 3 - Release Documentation: Forms and notices required to effect the release

4. Schedule 4 - Payment History: If relevant, details of payments made against the debt

5. Appendix A - Original Loan Agreement: Copy or details of the original agreement creating the debt

6. Appendix B - Security Release Forms: Standard forms for releasing any registered securities

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions





















Clauses

























Relevant Industries

Banking

Financial Services

Legal Services

Corporate Services

Real Estate

Manufacturing

Retail

Construction

Small and Medium Enterprises

Professional Services

Relevant Teams

Legal

Finance

Treasury

Credit Control

Risk Management

Compliance

Corporate Secretarial

Accounts Receivable

Debt Recovery

Corporate Affairs

Relevant Roles

Chief Financial Officer

Finance Director

Legal Counsel

Company Secretary

Credit Manager

Debt Recovery Officer

Risk Manager

Corporate Lawyer

Financial Controller

Treasury Manager

Accounts Receivable Manager

Compliance Officer

Business Development Manager

Managing Director

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Agree To Pay Letter

A Malaysian law-governed formal letter acknowledging debt and specifying repayment terms, serving as a legally binding payment commitment.

find out more

Agreement For Money Received

A Malaysian law-governed agreement acknowledging receipt of funds and establishing repayment terms between parties, commonly used in both business and personal contexts.

find out more

Contract Of Repayment

A Malaysian law-governed agreement that formalizes debt obligations and establishes structured repayment terms between parties.

find out more

Auto Payment Contract

A Malaysian law-governed agreement establishing automated payment arrangements between parties, detailing terms for recurring payments and compliance with local financial regulations.

find out more

Debt Release Agreement

A Malaysian law-governed agreement that formally releases a debtor from their debt obligations to a creditor, including all terms and legal implications of the release.

find out more

Fee Payment Agreement

A Malaysian law-governed agreement establishing fee payment terms, schedules, and obligations between contracting parties.

find out more

Advance Payment Agreement Letter

A Malaysian legal document establishing terms for upfront payments in business transactions, including payment details, security measures, and reconciliation methods.

find out more

Employee Repayment Agreement

A Malaysian law-governed agreement establishing terms for employee repayment obligations to employers for various business investments and advances.

find out more

Settlement Agreement Payment

A Malaysian law-governed agreement documenting settlement payment terms and conditions to resolve disputes between parties.

find out more

Payment For Contract

A Malaysian law-governed agreement establishing payment terms, conditions, and mechanisms between contracting parties, ensuring compliance with local financial regulations.

find out more

Advance Payment Contract

Malaysian law-governed agreement establishing terms for advance payment arrangements, including payment structure, security measures, and mutual protections.

find out more

Advance Payment Agreement

A Malaysian law-governed agreement setting out terms for advance payments, including security arrangements and repayment conditions.

find out more

Pay Settlement Agreement

A Malaysian law-governed agreement that documents the terms of payment settlement between employer and employee, including settlement sum, payment terms, and mutual releases.

find out more

Final Payment Agreement Letter

A legally binding document under Malaysian law that confirms the terms and conditions of a final payment settlement between parties.

find out more

Deferred Payment Contract

A Malaysian law-governed agreement establishing terms for structured payment arrangements, including payment schedules, interest, and party obligations.

find out more

Contract For Installment Payments

A Malaysian law-governed agreement establishing terms for structured installment payments, including payment schedule, interest rates, and default provisions.

find out more

Auto Loan Contract

A Malaysian law-governed agreement establishing terms and conditions for vehicle financing, compliant with the Hire-Purchase Act 1967.

find out more

Agreement Letter For Installment Payment

A Malaysian law-compliant agreement that structures debt repayment through defined installment payments.

find out more

Agreement To Pay Back Money

A Malaysian law-governed agreement that establishes terms for repayment of borrowed money, including loan amount, payment schedule, and default provisions.

find out more

Earnout Agreement

A Malaysian law-governed agreement that structures contingent payments in business acquisitions based on future performance targets.

find out more

Auto Payment Agreement

A Malaysian law-governed agreement establishing automated recurring payment arrangements between parties, including terms for fund transfers and regulatory compliance.

find out more

Simple Promise To Pay Agreement

A Malaysian law-governed agreement that documents a debt obligation, including payment terms and conditions between a creditor and debtor.

find out more

Letter Of Agreement For Payment Of Debt

A Malaysian law-governed agreement documenting debt acknowledgment and establishing structured repayment terms between creditor and debtor.

find out more

Debt Repayment Agreement

A Malaysian law-governed agreement that structures debt repayment terms between creditor and debtor, including payment schedule and enforcement provisions.

find out more

Agreement For Deposit Payment

A Malaysian law-governed agreement establishing terms and conditions for deposit payments, including payment terms, refund conditions, and parties' rights and obligations.

find out more

Payment Terms Agreement

A Malaysian law-governed agreement that establishes payment terms, schedules, and obligations between contracting parties.

find out more

Loan Repayment Agreement

A Malaysian law-governed agreement that sets out the terms and conditions for loan repayment, including payment schedule, interest, and parties' obligations.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.

Read our Privacy Policy.