Payment arrangements

Payment arrangements refer to agreements made between a buyer and seller regarding how and when a payment will be made for goods or services. This can include options like installment payments, where the buyer pays in smaller amounts over time, or setting up a payment plan due to financial difficulties. Such arrangements aim to make transactions more manageable for the buyer while ensuring that the seller receives payment. These agreements often outline terms, including payment deadlines, amounts, and any interest or fees that may apply, helping both parties understand their obligations.