All templatesACKNOWLEDGMENT OF DEBT
This Acknowledgment of Debt is made on the ______ day of ____________ 20____ by Joseph Kiprono Tanui, ID No. 25510983 of [Debtor postal address] ("the Debtor") in favour of Amani Hardware Limited of [Creditor postal address] ("the Creditor").
1. Acknowledgment
The Debtor acknowledges that the Debtor owes the Creditor KES 390,000 ("the Debt"), being building materials supplied between January and March 2026 under invoices 1101 to 1117.
2. Repayment
The Debtor will pay the Debt as follows: KES 65,000 on the last day of each month from 31 October 2026 to 31 March 2027.
3. Interest
No further interest is payable on the Debt.
4. Default
Money and debts
Acknowledgment of debt and repayment plan template (Kenya)
Also called: Acknowledgment of Debt & Repayment Plan
What it is for
Someone admits what they owe you and agrees how they will repay.
The Kenyan law it follows
- Limitation of Actions Act Cap 22 — s.23(3) (where the person liable acknowledges a debt or makes a payment in respect of it, the right of action accrues on the date of the acknowledgment or the last payment), s.24 (the acknowledgment must be in writing and signed by the person making it, and made to the creditor or the creditor's agent)
Who prepares it
You can prepare this yourself. It is still wise to have an advocate read it before you sign, especially where a lot of money or a long commitment is involved.
Fill this in with your own details
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Sample acknowledgment of debt and repayment plan
The first part of the sample is shown here. The names, amounts and facts are made up to show how the document reads.
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This is a sample for general information. It is not legal advice and may not suit your situation. Laws change, and a document has to fit your own facts; have an advocate check it before you rely on it.