Free Payment Agreement Plan Template
Payment Agreement Plan
This Payment Agreement Plan (the "Agreement") is made and entered into on October 31, 2066, by and between [YOUR COMPANY NAME], with its principal office located at [YOUR COMPANY ADDRESS], ("Company") and Johann Harvey, residing at San Francisco, CA 94102, ("Client").
The parties agree to the terms and conditions below regarding the payment obligations owed by Client to Company.
1. Purpose
This Agreement establishes a structured payment plan for the Client's outstanding balance with Company for services rendered, totaling $5,000. The payment terms specified herein are intended to allow the Client to meet their financial obligations while ensuring timely payments to Company.
2. Payment Terms
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Total Amount Owed: $5,000
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Initial Deposit: $500 to be paid on November 1, 2066.
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Payment Schedule:
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Monthly Payment Amount: $375
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Due Date Each Month: 1st of each month
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Final Payment Due Date: October 1, 2067
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3. Payment Method
Client agrees to make all payments by bank transfer. Payments shall be directed to:
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Bank Name: Future Finance Bank
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Account Number: 987654321
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Routing Number: 123456789
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Payable To: [YOUR COMPANY NAME]
4. Late Payments and Fees
If a payment is not received within 10 days of the due date, a late fee of $25 will be applied. Continued late payments may result in additional fees and may subject Client to collection actions.
5. Prepayment Option
Client may pay the outstanding balance in full or make extra payments without penalty at any time. Prepayments will be applied directly to the outstanding principal amount.
6. Default
In the event Client fails to adhere to the terms of this Agreement, including missed payments and/or late fees, Company reserves the right to terminate this Agreement and demand immediate payment of the full remaining balance.
7. Modification of Agreement
Any modifications to this Agreement must be made in writing and signed by both parties. Verbal agreements or amendments shall not be recognized.
8. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of Texas, United States.
9. Entire Agreement
This Agreement constitutes the entire agreement between the parties, superseding all prior agreements, representations, and understandings, written or oral.
10. Signatures
By signing below, each party agrees to the terms and conditions outlined in this Payment Agreement Plan.
Client Signature:
Print Name: Jordan Lee
Date: October 31, 2066
Company Representative Signature:
Print Name: [YOUR NAME]
Date: October 31, 2066
This Payment Agreement Plan is legally binding upon signing. Please retain a copy for your records.
