Acknowledgement of Debt by an Employee

Quality Legal Documents

If an employee owes your company money, an Acknowledgement of Debt (AOD) is a practical solution. This legal document, aligned with South African law, creates a formal agreement between the employer and the employee detailing the debt owed and the repayment plan.

Document Overview

The Acknowledgement of Debt includes the following:
  • Employee’s personal details
  • The total amount of the debt
  • A detailed repayment plan
  • Authorization for the employer to deduct the agreed repayments from the employee’s salary
  • Terms of default and costs
How to Use the Acknowledgement of Debt Template
  • Review the document to ensure it aligns with your requirements. Feel free to make any necessary alterations.
  • Input the necessary details and have the employee sign the document.
Please consult a specialist if the transaction is subject to the National Credit Act 34 of 2005. Synonyms: Payment Undertaking, AOD, Employee Payment Undertaking, Employee AOD, Staff Payment Undertaking, Staff AOD, Staff Acknowledgement of Debt.

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