Document background
This document serves as an Installment Agreement template designed for use under Hong Kong law, providing a structured framework for transactions where payment is made in multiple scheduled parts rather than as a single sum. It is particularly useful for high-value purchases, equipment financing, or service agreements where spreading payments over time is beneficial for both parties. The agreement incorporates key provisions required by Hong Kong legislation, including compliance with the Money Lenders Ordinance and Contract and Rights of Third Parties Ordinance. It can be customized to include security arrangements, personal guarantees, and specific payment terms while maintaining enforceability under Hong Kong law. The document is essential for businesses offering payment plans or companies seeking to formalize installment payment arrangements with their customers or suppliers.
