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Installment Payment AgreementHome > Credit & Collection > Collection |
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Properties of this Installment Payment Agreement |
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 MS-Word format (.doc) |
1 page |
240 words |
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Document Description:
An Installment Payment Agreement is an agreement to repay an outstanding debt or balance owing in monthly installments at an agreed-upon interest rate. This sort of arrangement is very useful as it allows for the outstanding balance to be repaid in smaller, more manageable amounts.
This contract is used to formalize a loan repayment schedule and can be used with our Loan Calculator spreadsheet to calculate the repayment schedule and interest payments. Not only is this agreement binding and enforceable, it is also necessary for tax and record keeping purposes. This template includes clauses relating to the principal owing, interest rates, and provisions in the event of default.
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Benefits |
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