How to Write a Simple Payment Agreement (Free Samples)

Please note that these templates are for informational purposes only and should not be considered legal advice. It is always recommended to consult with a lawyer before entering into any legal agreement.

Template 1: Simple Payment Agreement Letter

[Your Name]
[Your Address]
[City, State ZIP Code]
[Date]

[Recipient Name]
[Recipient Address]
[City, State ZIP Code]

Dear [Recipient Name],

I am writing to confirm our agreement regarding the payment of [amount] for [product or service]. The total amount is to be paid in [number of payments] payments, as follows:

Payment 1: [Date] – [Amount]
Payment 2: [Date] – [Amount]
Payment 3: [Date] – [Amount]
Payment 4: [Date] – [Amount]

All payments are due on the dates indicated above. If any payment is not received within [number of days] days of its due date, a late fee of [late fee amount] will be added to the outstanding balance.

This agreement will remain in effect until the full amount is paid, and I reserve the right to take legal action if payments are not made as agreed. Please confirm that you agree to these terms by signing and returning a copy of this letter.

Thank you for your prompt attention to this matter.

Sincerely,

[Your Name]

[Your Signature]

Template 2: Simple Installment Payment Agreement Letter

[Your Name]
[Your Address]
[City, State ZIP Code]
[Date]

[Recipient Name]
[Recipient Address]
[City, State ZIP Code]

Dear [Recipient Name],

I am writing to confirm our agreement regarding the payment of [amount] for [product or service]. We have agreed that you will make [number of payments] installment payments of [installment amount] each, as follows:

Payment 1: [Date] – [Amount]
Payment 2: [Date] – [Amount]
Payment 3: [Date] – [Amount]
Payment 4: [Date] – [Amount]

All payments are due on the dates indicated above. If any payment is not received within [number of days] days of its due date, a late fee of [late fee amount] will be added to the outstanding balance.

This agreement will remain in effect until the full amount is paid, and I reserve the right to take legal action if payments are not made as agreed. Please confirm that you agree to these terms by signing and returning a copy of this letter.

Thank you for your prompt attention to this matter.

Sincerely,

[Your Name]

[Your Signature]