A Debt Repayment Contract is a legally binding agreement between two or more parties to settle the repayment of a debt. This document outlines all the details concerning the loan, such as the amount borrowed and the terms of repayment, including the interest rate and any additional fees that may apply. It also defines the legal obligations of both borrower and lender in case of default on either side. The contract must be signed by both parties in order to become effective and it is important to note that this document is enforceable in court should either party fail to meet its terms. With a Debt Repayment Contract, everyone involved can be assured that their financial obligations are clearly addressed, allowing them to conduct business with peace of mind.