A payment agreement template, also known as a payment agreement, is a document containing relevant information about a credit. If you plan to borrow some money or borrow money from someone, you should create such a document. The terms of the loan, the amount of interest, the parties involved and the details of the repayment of the loan are explained. Drawing up the document and having it certified as a notarized means that the parties involved agree with everything that is written. Here are some steps and tips that you can guide when writing your document: the borrower owes the lender a certain amount of money qualified as a shortfall. Both the lender and the borrower are willing to enter into a formal agreement in which the borrower pays the lender the full amount of the default on the basis of an agreement with which they both agree. . . .