All templates have been reviewed by legal experts and are ready to useFree Payment Agreement Templates (Samples) – Word PDF. A Payment Agreement is a legally binding fillable contract between two parties (lender and borrower) mentioning a loan’s transaction details and terms and conditions of repayments. It What is a Payment Agreement? Repayment Schedule: Detailed dates and amounts for each installment. Payment Methods: Accepted forms of payment (e.g., bank transfer, check). Where’s a Payment A