Document background
An Installment Agreement Letter is commonly used in Malaysian business transactions where goods, services, or assets are to be paid for in multiple scheduled payments rather than as a lump sum. This document type is essential for businesses offering payment plans to customers or between business entities arranging structured payment terms. The letter format provides a more concise alternative to a full agreement while maintaining legal enforceability under Malaysian law. It typically includes payment schedules, terms and conditions, and default provisions, structured to comply with local contract law requirements. The document's usage spans various sectors, from retail to manufacturing, and can be adapted to both business-to-business and business-to-consumer contexts.
