Free Payment Plan Contract Template
Payment Plan Contract
This Payment Plan Contract ("Contract") is entered into on September 15, 2050 ("Effective Date") by and between: [YOUR COMPANY NAME], a company registered under the laws of Texas, having its principal place of business at [YOUR COMPANY ADDRESS] ("Provider"), and BrandKat, a company registered under the laws of California, having its principal place of business at Austin, TX 73301 ("Client").
Background:
Provider and Client have agreed to enter into this Contract to establish the terms and conditions regarding the payment schedule for goods or services provided by Provider to Client.
Terms and Conditions:
1. Payment Schedule:
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Client agrees to pay Provider according to the following schedule:
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Initial payment of $10,000 due upon signing of this Contract.
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Subsequent payments of $5,000 each are due on the 15th day of each month for the duration of the contract term.
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Final payment of any remaining balance due on the termination date of this Contract.
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The total amount due under this Contract is $50,000, payable in United States Dollars (USD).
2. Payment Method:
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Client shall make all payments under this Contract via wire transfer to the account designated by Provider.
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Any payment made by Client shall be considered received on the date it is credited to Provider's account.
3. Late Payments:
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In the event of late payment, the Client shall be liable to pay interest at the rate of 1.5% per annum on the outstanding amount from the due date until the date of actual payment.
4. Penalties for Default:
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If Client defaults on any payment under this Contract for a period exceeding 30 days after the due date, Provider shall have the right to suspend services until payment is received in full.
5. Amendment and Modification:
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Any modification or amendment to this Contract shall be in writing and signed by both parties.
6. Governing Law:
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This Contract shall be governed by and construed by the laws of the State of California.
7. Entire Agreement:
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This Contract constitutes the entire agreement between the parties concerning the subject matter hereof and supersedes all prior agreements, representations, warranties, and understandings.
8. Severability:
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If any provision of this Contract is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
9. Notices:
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Any notice required or permitted under this Contract shall be in writing and shall be deemed to have been duly given if delivered personally or sent by registered mail, postage prepaid, to the parties at the addresses set forth above or to such other address as either party may specify by notice to the other party.
10. Counterparts:
This Contract may be executed in counterparts, each of which shall be deemed an original but all of which together shall constitute the same instrument.
IN WITNESS WHEREOF, the parties hereto have executed this Contract as of the Effective Date first above written.
[YOUR COMPANY NAME]
September 15, 2050
BrandKat
September 15, 2050
