Legal Templates

Disputed Right Recovery Agreement

An agreement documenting the recovery of a disputed debt or right from its purchaser against a return price payable in cash or installments. It also addresses releases, delivery of documents, and responsibility for applicable taxes and charges.

Syria
Country
Contract
Instrument type
Arbitration Contract
Category
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Template contents

Published template · Contract

Agreement for Recovery of a Disputed Right

First Party: The Reclaimer: [First party name]

Second Party: The Returning Party: [Second party name]

Preamble

Whereas the First Party is in dispute with Mr./Ms. [Name of the person with whom the dispute exists] concerning [description of the debt or right], and the said person sold this debt or right to the Second Party under the agreement dated [day/month/year], while the First Party wishes to recover it;

And whereas the Second Party purchased the aforementioned debt or right and has no objection to returning it to the First Party;

The two parties, having full legal and religious capacity, have agreed as follows:

Article (1)

The preamble to this agreement shall constitute an integral part thereof.

Article (2)

A - The First Party has recovered from the Second Party, who accepts such recovery, the debt or right purchased by the Second Party under the agreement dated [day/month/year] and disputed with Mr./Ms. [Name of the person with whom the dispute exists], in consideration of a return price of [return price] Syrian pounds, equal to the stated purchase price of [purchase price] Syrian pounds, its expenses amounting to [expenses amount] Syrian pounds, and interest at a rate of 5% amounting to [interest amount] Syrian pounds.

B - Option One: Cash payment

The First Party paid the Second Party the entire aforementioned return price on the date of this agreement, in cash and in full, and fully and conclusively released the Second Party from it by way of acknowledgment of receipt, waiving every right, claim, and demand relating thereto.

Or

Option Two: Payment in installments

The First Party shall pay the Second Party the entire aforementioned return price in installments as follows:

  1. The first installment, in the amount of [first installment amount] Syrian pounds, on [day/month/year], as part of the price.

  2. The second installment, in the amount of [second installment amount] Syrian pounds, on [day/month/year], as the balance of the aforementioned price.

Article (3)

A - Each party waives, as against the other, every right, claim, and demand relating to the recovered debt or right, in particular the action pending before [name of court], under case number [case number] for the year [year], scheduled for [day/month/year].

B - The First Party received from the Second Party all documents relating to the Second Party’s ownership, and that of the Second Party’s predecessor in title, of the recovered debt or right.

C - The First Party waives every right, claim, and demand against the Second Party’s seller concerning the recovered debt or right.

Article (4)

A - The First Party undertakes to pay all taxes, fees, financial charges, and municipal charges imposed on the recovered debt or right from the date of its recovery. The First Party also undertakes to pay the purchase and recovery (transfer) taxes imposed on the agreement for the purchase and recovery of the debt or right, whatever their total amount may be.

B - The two parties undertake to declare the purchase and recovery before all competent departments.

Article (5)

This agreement was executed in two copies, each party retaining one copy after its provisions were read to that party and understood.

Executed in [place] on [day/month/year].

Second Party First Party
Returning Party: [name and signature] Reclaimer: [name and signature]