Free Simple Installment Plan Template
Simple Installment Plan
Prepared by: [YOUR NAME]
Company: [YOUR COMPANY NAME]
Date: October 31, 2058
1. Introduction
This Simple Installment Plan Agreement (the "Agreement") is entered into by [YOUR NAME] of [YOUR COMPANY NAME] and Trace Durgan ("the Client") as of November 1, 2058. This Agreement outlines the terms and conditions for installment payments relating to the purchase of Premium Educational Software License Package.
2. Purpose
The purpose of this installment plan is to provide a structured, interest-free payment arrangement to enable the Client to make payments over time for the Premium Educational Software License Package, ensuring affordability and flexibility.
3. Payment Terms
-
Total Amount Due: $2,400.00
-
Down Payment: $400.00
-
Remaining Balance: $2,000.00
Installment Structure
The Client agrees to pay the remaining balance of $2,000.00 in 10 monthly installments as follows:
|
Payment Due Date |
Installment Amount |
Remaining Balance |
|---|---|---|
|
November 30, 2058 |
$200.00 |
$1,800.00 |
|
December 30, 2058 |
$200.00 |
$1,600.00 |
|
January 30, 2059 |
$200.00 |
$1,400.00 |
|
February 28, 2059 |
$200.00 |
$1,200.00 |
|
March 30, 2059 |
$200.00 |
$1,000.00 |
|
April 30, 2059 |
$200.00 |
$800.00 |
|
May 30, 2059 |
$200.00 |
$600.00 |
|
June 30, 2059 |
$200.00 |
$400.00 |
|
July 30, 2059 |
$200.00 |
$200.00 |
|
August 30, 2059 |
$200.00 |
$0.00 |
4. Payment Method
Payments shall be made via bank transfer to [YOUR COMPANY NAME]'s account, details of which will be provided upon acceptance of this Agreement. The Client is responsible for ensuring that payments are received by [YOUR COMPANY NAME] on or before each due date.
5. Late Payments
If the Client fails to make any installment payment on or before the due date, a late fee of $50.00 will be added to the subsequent installment. Should the Client miss more than two payments, [YOUR COMPANY NAME] reserves the right to terminate the installment plan, and the entire remaining balance will become immediately due.
6. Termination
Either party may terminate this Agreement in writing with a 30-day notice. Upon termination, the entire outstanding balance will be immediately due.
7. Agreement Acceptance
By signing below, both parties agree to the terms and conditions outlined in this Simple Installment Plan Agreement.
[YOUR NAME]
Finance Manager
[YOUR COMPANY NAME]
Date: November 1, 2058
Trace Durgan
Atlanta, GA 30301
Email: trace@you.mail | Phone: 222 555 7777
Date: November 1, 2058
