Debt Acknowledgment
Debt Acknowledgment
Dear [CREDITOR'S NAME],
This letter serves as a formal acknowledgment of the debt discussed between [YOUR NAME] and [CREDITOR'S NAME] on [DATE OF AGREEMENT]. I, [YOUR NAME], in my capacity as [YOUR POSITION] of [YOUR COMPANY NAME], hereby recognize and confirm the outstanding debt of [DEBT AMOUNT] owed to [CREDITOR'S COMPANY NAME].
The details of the debt are as follows:
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Principal Amount: [PRINCIPAL AMOUNT]
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Interest Rate: [INTEREST RATE]% per annum
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Date Loan was Issued: [LOAN ISSUANCE DATE]
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Due Date for Repayment: [REPAYMENT DUE DATE]
This acknowledgment does not serve as a debt repayment agreement but merely confirms the current status and existence of the debt. Both parties acknowledge their understanding and agreement to the terms defined herein and agree to discuss repayment options in a separate formal meeting scheduled for [SCHEDULED MEETING DATE].
We express our intent to resolve this matter amicably and sustain the professional relationship that has been established between [YOUR COMPANY NAME] and [CREDITOR'S COMPANY NAME].
Please feel free to contact me directly at [YOUR COMPANY EMAIL] or [YOUR COMPANY NUMBER] should you have any questions or require further clarification regarding this acknowledgment. We thank you for your attention to this matter and look forward to resolving it promptly.
Sincerely,
[YOUR NAME]
[YOUR POSITION]
[YOUR COMPANY NAME]
[YOUR COMPANY ADDRESS]
[YOUR COMPANY EMAIL]
