Receipt (Full or Partial Payment) Form is a document necessary to acknowledge the receipt of a full or partial payment. The form has space for authenticating the document with the signature of a neutral witness. The person accepting the money signs and completes the form.
The form has various provisions to structure the transaction under one and/or many obligations. Moreover, it also offers a scope to bring transparency in the transaction by providing space to mention the full or partial status of the payment and the remainder of the balance if any. The document is easy to fill and has spaces for mentioning the crucial information pertaining to the monetary transaction/s between the two parties.
Things to remember
- Mention the type of payment using the choices from full or partial.
- Mention the unpaid balance remaining upon the said payment in the space provided.
- The signature of the person accepting the payment is very necessary
- The signature of a neutral witness is necessary to bring authenticity to the transaction as well as to the receipt form.
- Mention the obligation/s in the space provided to sanctify the issuance of the receipt form.
Start by entering the amount in receipt in US dollars in the space provided for the same. Subsequently, type the name of the person paying the money under the obligation/s mentioned in the receipt form in acknowledgement of the receipt of the aforementioned amount in US dollars. Write legal name of the payer in the space available for the same. Write the type of payment between the choices partial or full in the next space available for the same. Mentioning the payment type is crucial to sanctify the transaction/s and/or obligation/s.
Enter the obligation/s or the cause of the pecuniary transaction in the next portion of the receipt form. Mentioning the obligation/s is extremely important to validate the issuance of the receipt and the reason for the action. Mention each obligation on separate line, if more than one.
The next portion requires the input of the unpaid balance, if any as on the date after receipt of the aforementioned amount in US dollars. However, leave blank or strike out the blank space if the payment received is full and not partial. This space is reserved to indicate the unpaid balance amount, if any.
Type the date in the prescribed format followed by the signature of the person issuing the receipt form in acknowledgement and acceptance of the payment made under the obligation/s mentioned on the receipt form.
The signature of a neutral witness is necessary for legalizing the receipt form beyond the doubts and ambiguity.
Text version of this Form
BE IT KNOWN, that the undersigned hereby acknowledges receipt of the sum of $______________ paid by _______________________________, which payment constitutes ______________ [indicate full or partial] payment of the below described obligation: ___________________________________________________________ ___________________________________________________________ ___________________________________________________________
If this is in partial payment of said obligation, the remaining unpaid balance on this date is $_____________.
Signed this_____ day of __________________, 20____.