4. Method of Payment. Payments shall be made to the Owed Party in accordance with the Payment Plan via [Payment method].. 5. Release and Indemnification. In consideration for agreeing to this Payment Agreement, the Owed Party hereby releases any claims against the Owing Party related to the Deficiency as of the date of this Agreement. A monthly payment plan agreement template, on the other hand would entail smaller amounts of payments which are to be made once every month. This can also be beneficial for businesses especially when the business has a lot of monthly paying clients. This would mean that each month, smaller payments would be made, but if coming from a number of For creating a payment plan, templates can be used to schedule installment payments, keep track of due dates, and manage payments over time. Choose from a selection of free payment templates below, in Excel, Word, and PDF formats. Each template is fully customizable and designed to look professional while saving you time.