Agreement Letters

Payment Agreement Letter

Write this type of letter when you are agreeing to a payment, either for a single payment or for a series of payments. Include relevant details in your letter, such as the full amount that you owe, when you will make the payment(s), how you will pay (cash, credit card, etc.), interest amount/percentage, and any other terms.

[Your letterhead, if desired; if not, your return address]

[Date of letter—month, day, and year]

[Recipient's first and last names]
[Company name]
[Street or P.O. box address]
[City, State ZIP code]

Dear [recipient's name]:

I am writing to follow up on our telephone conversation this morning regarding the payment for the $300 that I owe you. Per our conversation, I agree to pay you $150 of the total amount owed this month and $150 of the total amount owed next month. I also understand that you will not be charging me interest on the amount that I owe you. I will be paying you by mailing a check to you for each of the two payments.

Thank you for working with me to make this agreement. I truly appreciate the loan, as well as your flexibility regarding the payment arrangements. Please let me know if you have questions or need to discuss this further.