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ACKNOWLEDGEMENT OF DEBT/AGREEMENT OF SETTLEMENT
Bet ween
SAPHUMULA SAVINGS AND CREDIT CO-OPERATIVE SOCIETY LTD
(Creditor)
And
NAME: …………………………………………………………………….
(Debtor)
1. ACKNOWLEDGEMENT
I ……………………………………hereby acknowledge being indebted to
Saphumula Savings and Credit Co-operative Society Ltd (Saphumula
SACCO) in the agreed amount as follows;
1.1

E………………………..(words)…………………………………………………
……………………………………………………………………………………..
inrespectofmoneyloanedandadvancedfor
……………………………….. Loan.

1.2 Interest thereon at the rate of ……….% per month, effective from
(date)....................................... 20…….. to date of final payment .
2. PAYMENT
It is agreed that the debtor shall liquidate the amount referred herein
above as follows;
1

2.1

The

amount

of

E………………….

(words)

…………………

……………………………………………………………………. Emalangeni)
shall be paid in equal monthly instalment of E..................
starting
from the end of (month) …………………………… 20….. and each
subsequent month until the last payment is made