Not legal advice — have your counsel review it before you use it.
What's in it
- The balance: the store agrees what it owes and that the amount isn't in dispute.
- Payment schedule: a table of installment dates and amounts, plus how it will pay.
- Missed payments: a grace period, after which you can call the rest of the balance due and end the plan.
- New orders: a choice between normal terms while the plan is current or cash on delivery until it is paid.
- Everything else: the original invoices still stand, and early payment is always allowed.
How to use it
- Agree the balance and the invoice list with the buyer before you fill in the schedule.
- Keep the installments small enough that the store can actually make them, and the plan short enough that you can live with it.
- Fill in a grace period you will enforce, then have both sides sign.
- Remind the store before each installment is due. A plan with no reminders becomes another late balance.
On ShelfSpace, a store can request a plan from its pay link, you approve it, and every installment is reminded and collected on schedule. See payment plans on ShelfSpace. If the store only needs a date, a promise to pay letter is lighter.
Read the full template
The whole document is below. The Word file is editable; the PDF prints as is.