Bill Payment Agreement Outline
1. Agreement Overview
2. Purpose
Description of the Debt/Obligation: [Description of the bill or debt owed, e.g., utility bill, medical bill, etc.]
Total Amount Due: $[Insert Amount]
Reason for Agreement: [Optional explanation, such as payment arrangement due to financial difficulty]
3. Payment Terms
Total Amount to be Paid: $[Insert Total Amount]
Payment Method(s): [Specify the method, e.g., bank transfer, check, cash, online payment, etc.]
Payment Schedule:
First Payment Due Date: [Insert Date]
Subsequent Payment Dates: [List payment dates if applicable]
Payment Amount per Installment: $[Insert Amount] (if installment plan is agreed upon)
4. Late Payment & Penalties
Late Payment Fees: [Specify any late payment fee, e.g., a fixed amount or percentage per late payment]
Interest Rate: [Insert percentage rate, if applicable]
Consequences of Non-Payment: [State the consequences if payments are not made according to the agreement, such as further legal action, credit damage, etc.]
5. Modifications or Changes to the Agreement
Conditions for Changing Terms: [Describe how and under what circumstances the payment terms can be altered or renegotiated]
Written Consent: [State that any amendments to the agreement must be in writing and signed by both parties]
6. Dispute Resolution
Mediation/Arbitration: [Describe how disputes will be handled, e.g., through mediation or arbitration]
Governing Law: [Specify the jurisdiction and laws that apply to the agreement]
7. Signatures
Agreement Templates @ Template.net
