Invoices and paymentsAgreement
Payment plan agreement template
When a customer cannot pay all at once: agree the total, the instalments and their dates, what happens if one is missed, and that they can pay early, in one short document both sides sign.
Opens in the Salsox editor with 5 signing fields already placed for Creditor and Debtor. Add their emails and send. The free plan sends 3 documents a month.
Who signs
- Creditor (you)
- Debtor
Preview
Payment Plan Agreement
This Payment Plan Agreement is made on 21 October 2026 between Wisdom Academy Ltd, of Box 233, Adenta, Accra (the "Creditor"), and Mr. Samuel Tetteh, of 5 Frafraha Street, Adenta (the "Debtor").
1. Amount owed
The Debtor owes the Creditor GHS 9,600 for first-term school fees for two pupils, invoice 2026-T1-118 (the "Amount").
2. Instalments
The Debtor will pay the Amount in four instalments:
| Instalment | Due | Amount |
|---|---|---|
| 1 | on signing | GHS 2,400 |
| 2 | 21 November 2026 | GHS 2,400 |
| 3 | 21 December 2026 | GHS 2,400 |
| 4 | 21 January 2027 | GHS 2,400 |
Payments will be made by mobile money or card through the payment link provided, or bank transfer.
3. Interest and early payment
No interest or fees are charged while instalments are paid on time. The Debtor may pay the remaining balance at any time without penalty.
4. Missed payments
If an instalment is more than seven days late, the Creditor will notify the Debtor in writing. If it is still unpaid 14 days after that notice, the full remaining balance becomes due immediately and the Creditor may take steps to recover it.
5. Acknowledgement of debt
The Debtor acknowledges that the Amount is owed, and the Creditor will take no further collection action while this Agreement is kept.
Debtor initials: Initials · Debtor
6. General
This Agreement is the entire agreement about the Amount, may be changed only in writing, is governed by the laws of Ghana, and may be signed electronically. If the Debtor expects to miss an instalment, they will tell the Creditor before its due date so the parties can discuss a revised schedule in writing.
Signatures
Creditor: Wisdom Academy Ltd Signature: Signature · Creditor Date: Date · Creditor
Debtor: Mr. Samuel Tetteh Signature: Signature · Debtor Date: Date · Debtor
These templates are general starting points, not legal advice. Laws differ between countries and states: check that a template suits your situation, or ask a lawyer, before you rely on it.
About the Payment plan agreement template
A payment plan keeps a customer you value while protecting what you are owed. Schools use it for fees, clinics for treatment bills, and suppliers for a large invoice a regular client cannot settle in one go.
The agreement is short because the terms are simple: the total and what it is for, a dated instalment table, how payments are made, and what happens if one is missed. A grace period, then written notice, then the remaining balance becoming due: that sequence is firm without being harsh, and it is what makes the plan enforceable if you ever need it to be. The debtor also acknowledges the debt, and can always pay early without penalty.
Consumer credit rules in many countries regulate interest charged to individuals, so this template charges none by default. Send it through Salsox with Sign & Pay and the first instalment is collected as they sign.
- Signers
- 2
- Signing fields placed
- 5
- Details to fill in
- 20
How to use this template
Open it in Salsox
Choose Use this template. Sign up free if you have no account; the template opens straight after.
Fill in the details
Type your details into each blank, or start from the sample to see how it reads. Save it as your own template to reuse it.
Add signers and send
The editor already has every signature, date and initials field in place. Add each signer's email and send; they sign on their phone, and everyone gets the sealed copy with its audit trail.
Used in
Questions
When should I offer a payment plan?
When a reliable customer asks for time, or when splitting a large bill makes the sale possible. A written plan keeps the goodwill while protecting what you are owed.
Can I charge interest on a payment plan?
Sometimes, but consumer credit rules in many countries regulate interest and fees charged to individuals. This template charges none; check the rules before adding any.
How can the first instalment be collected at signing?
Send the agreement through Salsox with Sign & Pay and set the first instalment as the payment: the customer signs and pays it in the same step.
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Send it for signature in minutes
Start from this template in Salsox: fill in the blanks, add your signers and send by email, WhatsApp or SMS. Signers sign one field at a time on their phone, and you can collect a payment in the same step.