School Payment Agreement
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:
-
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].
-
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.
-
Payment Allocation: Payments shall be allocated towards outstanding fees in the following order:
-
Late fees
-
Tuition fees
-
Other charges
-
Termination of Agreement: This Agreement may be terminated by either party with 30 days' written notice to the other party.
-
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]
