School Payment Agreement

This Payment Agreement ("Agreement") is entered into on [Agreement Date] between [Your Company Name], located at [Your Company Address] ("School"), and [Payer Name], located at [Payer Address] ("Payer").

WHEREAS, the School provides educational services to students, and the Payer is responsible for the payment of fees related to these services, both parties agree to the following terms and conditions:

1. Payment Details: The Payer agrees to pay the School the total amount of $10,000 for the services rendered, to be paid in monthly installments of $1,000. Payments are due on the first business day of each month, beginning on [Date], and ending on [Date].
   

2. Late Payment: In the event of late payment, the Payer shall pay a late fee of $50 per day for each day that payment is overdue.

3. Payment Allocation: Payments shall be allocated towards outstanding fees in the following order:

• Late fees

• Tuition fees

• Other charges

4. Termination of Agreement: This Agreement may be terminated by either party with 30 days' written notice to the other party.

5. Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the state of [State], without regard to its conflict of law principles.

Signatures

School

[Name]

[Title]

[Date]

Payer

[Name]

[Title]

[Date]

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