Release Of Debt Agreement

Release Of Debt 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 Release Of Debt Agreement

1. Select your governing law and document type:

2. Enter your key requirements:

3. Create your document to edit, review or download

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:

"I need a Release of Debt Agreement for my manufacturing company to release a supplier from their RM 250,000 debt, with the condition that they continue to supply materials to us at a 15% discount until March 2025."

Document background

The Release Of Debt Agreement is a crucial document in Malaysian business and financial transactions, used when a creditor wishes to formally and legally discharge a debtor from their payment obligations. This agreement becomes necessary in various scenarios, such as debt settlement negotiations, corporate restructuring, or family business arrangements. It must comply with Malaysian legislation, including the Contracts Act 1950 and the Stamp Act 1949, and should be properly executed to be legally enforceable. The document typically includes comprehensive details about the original debt, the terms of release, and any conditions attached to the release. It's particularly important in Malaysian business practice as it provides clear documentation of debt discharge, preventing future disputes and providing legal certainty for both parties. The agreement can be used for both individual and corporate debtors, and may be particularly relevant in situations involving debt restructuring, family settlements, or business wind-downs.

Suggested Sections

1. Parties: Identification of the Creditor and Debtor, including full legal names, registration numbers (if companies), and addresses

2. Background: Recitals explaining the original debt, its nature, when it was incurred, and current outstanding amount

3. Definitions: Definitions of key terms used throughout the agreement, including 'Debt', 'Release Date', and 'Original Agreement'

4. Acknowledgment of Debt: Formal acknowledgment of the original debt amount and any accrued interest

5. Release: Core terms of the release, including the specific debt being released and effective date of release

6. Consideration: Details of any payment or consideration given in exchange for the release, if applicable

7. Representations and Warranties: Statements by both parties confirming their authority to enter into the agreement and the validity of the debt

8. Governing Law: Specification that Malaysian law governs the agreement

9. Execution: Signature blocks and execution requirements for all parties

Optional Sections

1. Partial Release: Used when only a portion of the debt is being released, specifying remaining obligations

2. Conditions Precedent: Include when the release is subject to certain conditions being met first

3. Confidentiality: Include when parties wish to keep the terms of the release private

4. Tax Implications: Include when there are significant tax consequences to address

5. Related Party Release: Used when release extends to related parties, guarantors, or security providers

6. Future Claims: Include when specifically addressing the waiver of future claims or rights

7. Dispute Resolution: Include when parties want to specify mediation or arbitration procedures

Suggested Schedules

1. Schedule 1 - Details of Original Debt: Detailed breakdown of the original debt, including dates, amounts, and interest calculations

2. Schedule 2 - Payment History: Record of payments made against the debt (if relevant to the release)

3. Schedule 3 - Related Security Documents: List of any security documents or guarantees being released

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

5. Appendix B - Corporate Authorizations: Copies of board resolutions or other authorizations (if parties are companies)

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 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

Real Estate

Construction

Manufacturing

Retail

Professional Services

Healthcare

Education

Technology

Small and Medium Enterprises

Corporate Services

Relevant Teams

Legal

Finance

Treasury

Credit Control

Risk Management

Corporate Secretarial

Accounts Receivable

Debt Recovery

Corporate Affairs

Business Operations

Relevant Roles

Chief Financial Officer

Financial Controller

Legal Counsel

Corporate Lawyer

Debt Recovery Manager

Credit Manager

Treasury Manager

Accounts Receivable Manager

Risk Management Officer

Company Secretary

Finance Director

Collections Specialist

Business Development Manager

Corporate Recovery Specialist

Find the exact document you need

Hold Harmless Letter For Vehicle Release

A Malaysian legal document that releases liability and provides indemnification in vehicle release situations, governed by Malaysian transport and contract law.

tiktok���˰�

How a Sales & Marketing Lead uses tiktok���˰� to reduce contract drafting time by 95%

Let's create your Release Of Debt Agreement

Authors

Alex Denne

Find the exact document you need

Hold Harmless Letter For Vehicle Release

Waiver Indemnification Agreement

Sports Indemnity Form

Release Of Covenant

Model Release Agreement

Release And Covenant Not To Sue

Co Performer Release Agreement

Press Release Agreement

Release For Personal Injury Form

Release From Contract Agreement

Release Of Liability Waiver Form

Waiver Of Rights Agreement

Waiver And Release Of Non Compete Obligations

Testimonial Agreement

Resignation And Release Agreement

Resignation Agreement And General Release

Contract And Release

Simple Release Agreement

Insurance Hold Harmless Agreement

Debt Waiver Agreement

Agreement Not To Sue

Simple Waiver Of Liability Form

Release And Settlement Of Claim

Settlement Release Letter

Release From Tenancy Agreement

Media Release Agreement

Lease Termination Letter 60 Days

Talent Release Agreement

Rental Agreement Termination Letter

Release And Waiver Of Liability Form

Release And Indemnification Form

Release Of Guarantee Agreement

Parent Guardian Release And Indemnity Agreement

Equipment Rental Release Form

Apartment Lease Termination Letter

Partnership Release Agreement

Mutual Release Agreement Employment

Interview Release Agreement

Liability Indemnity Agreement

Personal Release Agreement

Personal Training Waiver Of Liability

Mutual Release And Non Disparagement Agreement

Employee Termination Release Agreement

Property Release Agreement

Contractor Waiver Of Liability Form

Settlement Agreement Waiver Of Claims

Mutual Release Form

Mutual Release And Termination Agreement

Tenancy Release Form

Severance Release Agreement

Release And Discharge Agreement

Copyright Release Agreement

Mutual Rescission And Release Agreement

Medical Waiver Of Liability Form

General Release Of Claims

Release Of Liability Agreement

Release Of Contract Letter

Receipt And Release Agreement

Employee Release Agreement

Agreement And General Release

Release Of Debt Agreement

General Release Agreement

No Liability Agreement

Release Of Claims Agreement

Tenancy Termination Letter

Location Release Form

Download our whitepaper on the future of AI in Legal

�ұ�Ծ���’s Security Promise

Your documents are private:

Your documents are protected:

Organizational security

Innovation in privacy:

Want to know more?

Use Cases

tiktok��˰�

How a Sales & Marketing Lead uses tiktok��˰� to reduce contract drafting time by 95%

�ұ�Ծ��’s Security Promise