Finance & Operations

Free Payment Agreement Template (PDF)

An invoice or payment agreement is a simple document establishing the payment terms for an amount already owed — the schedule, method, and what happens if payment runs late.

When to use it

Use this to formalize an amount owed beyond a plain invoice — an installment plan, a payment schedule both sides need to agree to in writing, or any situation where a simple invoice alone doesn't feel like enough documentation.

What's typically included

• Amount due
• Payment schedule
• Accepted payment methods
• Late payment terms
• Dispute window
• Governing law

How to fill it in

• Fill in the line-item table with the actual invoice detail and reference the real invoice number and date — this document is meant to sit alongside an existing invoice, not replace it.
• Set the payment schedule as real dates and amounts, whether it's a single due date or installments — a schedule with placeholder text is easy for a payer to treat as non-binding.
• State the dispute window as a specific number of days — after that window closes, the amount is treated as agreed and undisputed, which is exactly the protection this document is meant to add over a plain invoice.

This template is a general starting point, not legal advice — customize it and have it reviewed for your situation.

Frequently asked questions

How is this different from just sending an invoice?

A plain invoice is a request for payment; this agreement is a signed acknowledgment from the payer that the amount is owed, on specific terms — useful when you want something more enforceable than an invoice alone, especially for a payment plan or a larger amount.

Is an electronically signed payment agreement legally binding?

Yes, under the U.S. ESIGN Act and state UETA laws, an electronic signature carries the same legal weight as one on paper.

What happens if the payer disputes the amount after signing?

The agreement sets a dispute window (a number of days from signing) — once that window passes without a written dispute, the amount is treated as agreed, which is meant to prevent a stale dispute from surfacing long after the fact.