PAYMENT PLAN PROMISSORY NOTE
- Wealth Mentors Pte Ltd (The Payee) is the organizing party of a training programme conducted/facilitated or to be conducted/facilitated by Derek Gehl for the program Digital Business Ignition System.
- The Payee has agreed to, at the request of the Participant as per Enrollment Agreement (“The Promisor”), arrange for a full and complete placement for the Promisor in the training program Digital Business Ignition System, as evidenced by the Enrolment Agreement entered into between the Promisor and the Payee.
- The Promisor hereby unconditionally and irrevocably, promises to pay without protest and/or contest, to the WEALTH MENTORS PTE LTD (The Payee), the principal sum of USD327 every month (“Monthly Principal Amount”) for a period of 6 months from the dates of enrolment.
- Payment Mode: All payments based on the above schedule shall be charged to your designated credit card (“Designated Credit Card”) on our record by way of online credit card payment transactions.
- Payment Default: Should you default in payment on Payment Due Dates, you shall rectify the default within 7 days, regardless of whether the Payee issues you a Notice of Default.
In the event the Promisor fails to rectify a default in payment within 7 days of the default, all outstanding Monthly Principal Amounts and any interest accrued shall become immediately due and payable without notice or demand.
It is the sole obligation of the Promisor to ensure the Designated Credit Card has sufficient credit limits and/or funds therein. In the event, the Designated Credit Card is no longer active without prior written notification to the Payee, the Promisor is deemed to have defaulted on this Promissory Note and all the access to the training program will be dismissed.
In the event that the Promisor’s credit card is expiring or has expired during the tenure of the Promissory Note, it is the absolute responsibility of the Promisor to inform and furnish the Payee with the relevant details of the Promisor’s replacement credit card at least 7 business days prior to the next payment due date (relative to the expiry date of the Designated Credit Card) under the Promissory Note.
