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This Debt Settlement Agreement (the "Agreement") states the terms and conditions that govern the contractual agreement between [COMPANY] having its principal place of business at [ADDRESS] (the "Debtor"), and [COMPANY] having its principal place of business at [ADDRESS] (the "Creditor") who agrees to be bound by this Agreement.
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The Parties agree that upon the Creditor's receipt of the payment described above, the debt is full and forever settled. The Debt Settlement Agreement is a contract signed between a creditor and debtor to re-negotiate or compromise on a debt. The purpose of the document is to state in writing how the assets and debts will be split.
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