Payment Agreement

A Payment Agreement is an outline of the important terms and conditions of a loan. Payment periods, amounts, and interest rates can all be critical to the loan agreement and it's probably best to document all those elements in writing. If you're borrowing or lending money, a Payment Agreement serves as your detailed receipt of the loan.

Use the Payment Agreement document if:

• You plan to borrow money.
• You're thinking about lending money.
• Wish to prepare an amortization table.
• You want to figure out and document monthly payments and interest.