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Monthly Payment Plan Agreement
"I need a Monthly Payment Plan Agreement for my dental practice in Sydney, allowing patients to pay for major dental procedures in 12 monthly installments starting from January 2025, with an early payment discount option and hardship provisions."
1. Parties: Identifies and provides full details of all parties to the agreement, including ABN/ACN for businesses
2. Background: Explains the context of the agreement and the purpose of the payment plan
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Payment Terms: Details the payment amount, frequency, due dates, and payment methods
5. Duration of Agreement: Specifies the term of the payment plan and any renewal provisions
6. Default and Consequences: Outlines what constitutes default and the consequences of missing payments
7. Termination: Describes how and when either party can terminate the agreement
8. Notices: Specifies how formal communications between parties should be made
9. Privacy and Data Protection: Addresses the handling of personal and financial information
10. Governing Law: Specifies that Australian law governs the agreement and identifies the jurisdiction
11. Execution: Signature blocks and execution requirements for all parties
1. Early Payment Provisions: Include when offering discounts or benefits for early or lump sum payments
2. Payment Pause Provisions: Include when offering the ability to pause payments under certain circumstances
3. Security Requirements: Include when requiring any form of security for the payment plan
4. Third Party Guarantor: Include when a guarantor is required to secure the payment plan
5. Hardship Provisions: Include detailed provisions for handling financial hardship cases
6. Insurance Requirements: Include when insurance is required to secure the payment plan
7. Direct Debit Authority: Include when automatic payments are a payment option
8. Assignment and Novation: Include when either party may need to transfer their rights or obligations
1. Payment Schedule: Detailed breakdown of payment amounts and due dates
2. Direct Debit Request Form: Standard form for setting up direct debit payments
3. Goods or Services Description: Detailed description of the goods or services being paid for
4. Credit Assessment Form: Form for assessing the payer's ability to meet payment obligations
5. Hardship Application Form: Standard form for applying for hardship consideration
6. Identification Requirements: List of acceptable identification documents and requirements
7. Fee Schedule: Detailed listing of all applicable fees and charges
Authors
Application
Authorized Representative
Business Day
Commencement Date
Confidential Information
Credit Assessment
Default Event
Direct Debit
Due Date
Early Payment
Electronic Communication
Fees
Financial Hardship
Force Majeure Event
GST
Guarantor
Initial Payment
Installment Amount
Interest Rate
Late Payment Fee
Notice
Payment Method
Payment Schedule
Payment Term
Personal Information
Principal Amount
Privacy Laws
Related Entity
Scheduled Payment
Security
Service Provider
Term
Termination Date
Total Amount Payable
Payment Terms
Payment Method
Late Payment
Default
Termination
Direct Debit Authorization
Financial Hardship
Privacy
Confidentiality
Force Majeure
Dispute Resolution
Notices
Assignment
Warranties
Indemnification
Amendment
Severability
Entire Agreement
Governing Law
Electronic Communications
Security
Credit Assessment
GST
Consumer Protection
Record Keeping
Early Termination
Cooling-off Period
Retail
Education
Healthcare
Professional Services
Utilities
Telecommunications
Financial Services
Insurance
Real Estate
Construction
Automotive
Fitness and Wellness
Technology Services
Legal
Finance
Credit Control
Collections
Customer Service
Sales
Compliance
Risk Management
Operations
Account Management
Contract Administration
Finance Manager
Credit Controller
Collections Officer
Legal Counsel
Compliance Officer
Contract Administrator
Customer Service Manager
Sales Manager
Account Manager
Business Development Manager
Risk Manager
Operations Manager
Financial Controller
Credit Assessment Officer
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