Payment Plan Agreement

Where a buyer pays over time: total amount, deposit, instalment amounts and dates, when the goods are released, and what happens if a payment is missed.

What's included

Parties and what is being paid for
Total amount and deposit
Instalment amounts and dates
Release of goods or service
Late payment and default
Final settlement confirmation

Usage notes

State clearly whether the buyer takes the item before or after full payment.
Issue a receipt for every instalment.

These are general-purpose document templates for use in Kenya. They are not a substitute for legal advice and may need review for your specific transaction.