Debt Recognition Agreement

If someone owes you money, you can formalize a debt recognition agreement with a notary.

Advantages of the debt recognition agreement:

If the debtor fails to repay the debt within the agreed period, you won't need to go to court. The notary can issue an enforcement document, allowing enforcement against the debtor's assets.

Documents required to enter into the agreement:

1. Both creditor and debtor must appear in person with a valid ID
2. The fee is determined by the debt amount based on legal requirements

№	When the transaction amount is	The fee amount in GEL based on transaction value
1	Up to 500 GEL	3%
2	501 to 1,000 GEL	15 GEL + 2.5% for the amount over 500 GEL
3	1,001 to 2,000 GEL	27.5 GEL + 1.5% for the amount over 1,000 GEL
4	2,001 to 3,000 GEL	42.5 GEL + 1% for the amount over 2,000 GEL
5	3,001 to 5,000 GEL	52.5 GEL + 0.5% for the amount over 3,000 GEL
6	5,001 to 20,000 GEL	62.5 GEL + 0.4% for the amount over 5,000 GEL
7	20,001 to 100,000 GEL	122.5 GEL + 0.3% for the amount over 20,000 GEL
8	100,001 to 500,000 GEL	362.5 GEL + 0.2% for the amount over 100,000 GEL
9	500,001 to 1,000,000 GEL	1,162.5 GEL + 0.1% for the amount over 500,000 GEL
10	Over 1,000,000 GEL	1,662.5 GEL + 0.05% for the amount over 1,000,000 GEL