BLUSH BEAUTY ACADEMY
WHEREAS, the DEBTOR has an existing obligation to the creditor for an agreed amount;
WHEREAS, the DEBTOR and the CREDITOR, by the goodwill of both parties, desire to secure the amount of debt by entering into a new agreement whereby the sum of the total amount agreed shall be set into structured payment agreement to the terms and conditions herein provided;
NOW, THEREFORE, for and in consideration of the foregoing premises, the parties hereto agree as follows:
1. Debtor Representation
The DEBTOR hereby represents and warrants that both parties in this agreement have set a payment plan to secure the deficiency in a scheduled manner set herein without further interruption, notwithstanding an additional fees for processing of such scheduling.
2. Payment Plan
The Parties hereby agree to the scheduled payment plan, as signed on the Direct Debit instructions. The DEBTOR shall conform to the schedule set and shall pay to the CREDITOR before or upon due the amount as indicated on the Payments Schedule table.
3. Payment Method
Payment shall preferably be made to the CREDITOR in accordance to the mode as indicated in the Payment Plan, (via Direct Debit).
In consideration for this Agreement, the CREDITOR hereby releases any other claims against the DEBTOR in relation to fees and penalties resulting from the deficiency or any damages prior this Agreement. However, no obligation shall release the DEBTOR from its obligations herein or limit the rights of the CREDITOR in relation to this Agreement.
5. Acceleration Clause
In the occurrence that the DEBTOR fails to render payment upon reaching five (5) days after the scheduled payment plan, the full amount of the deficiency shall become due and demandable. Any further failure shall give rise to the right to the CREDITOR to demand for damages and apply extra charges of £20 for every day in which the payment is late.
6. Agreement Modification
No modification of this Agreement shall be considered valid unless made in writing and agreed upon by both Parties.
7. Assignment of Rights
The CREDITOR may transfer or assign this Agreement to a third party provided that a written notice to the DEBTOR is given. In the event of such assignment, the assignee may amend the schedule of payment found in this Agreement.
Should any provision found in this Agreement be held invalid, illegal, or unenforceable by any competent court, the same shall apply only to the provision and the rest of the remaining provisions hereto shall remain valid and enforceable.
9. Applicable Law
This Agreement shall be governed by and construed in accordance with the laws of the country of the United Kingdom. Subject to the exclusive jurisdiction of England.
IN WITNESS WHEREOF, the Parties has executed this Agreement and by signing, agrees to the terms of this contract.
It is understood that should payments cease, accreditation will be revoked and the learners details will be provided to insurance underwriters in order to prevent cover and ensure certificates are no longer valid. This is a level of protection for the creditor (Blush Beauty Academy Ltd).