Simple Agreement Letter for Payment Example [Edit & Download]
James Wilson
500 Oak Street
Seattle, WA 98101
January 12, 2025
Anna Brown
200 Pine Avenue
San Diego, CA 92101
Subject: Simple Agreement Letter for Payment
Dear Anna Brown,
This letter serves as an agreement between James Wilson (the Payer) and Anna Brown (the Payee) regarding the payment arrangement for professional consulting services rendered by Anna Brown.
The terms of the agreement are as follows:
- James Wilson agrees to pay Anna Brown a total sum of $30,000 for consulting services provided from January 1, 2025, to June 30, 2025.
- The payment will be made in six equal monthly installments of $5,000 each. Payments will be due on the last day of each month, starting January 31, 2025, and concluding on June 30, 2025.
- Payments will be made via direct bank transfer to Anna Brown’s specified account.
- If a payment is delayed by more than 7 days, a late fee of $200 will be applied to the overdue installment.
- In the event of non-payment of two consecutive installments, Anna Brown reserves the right to suspend any ongoing services and take legal action to recover the outstanding balance.
- James Wilson retains the right to prepay the entire remaining balance at any time without incurring additional penalties.
- Both parties agree that this agreement is legally binding, and any disputes arising from it will be resolved under the jurisdiction of the state of Washington.
This agreement is effective from January 12, 2025, and will remain valid until all payments have been made in full and all services completed.
Both parties confirm that they have read, understood, and agreed to the terms outlined in this agreement by signing below.
Sincerely,
James Wilson
(Signature)
Anna Brown
(Signature)
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