All Countries
Banking
Installment Billing Agreement

Installment Billing Agreement Template for Philippines

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Installment Billing Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Installment Billing Agreement

"I need an Installment Billing Agreement for my furniture retail business in Manila, covering a 12-month payment plan with 20% down payment, to be implemented by March 2025."

Celebrated by
Collaborations with
Investors
Document background
An Installment Billing Agreement is essential for businesses in the Philippines that offer goods or services with payment terms spread over multiple installments. This document is particularly important in ensuring compliance with Philippine consumer protection laws, including the Truth in Lending Act and the Consumer Act of the Philippines. The agreement should be used whenever a seller allows a buyer to pay for purchases through scheduled installments, whether for goods, equipment, or services. It includes critical information such as the total purchase price, finance charges, payment schedule, interest rates, and default provisions. The document serves to protect both the seller's right to receive payment and the buyer's consumer rights under Philippine law, making it a crucial tool for businesses engaged in installment sales transactions.
Suggested Sections

1. Parties: Identification of the seller/creditor and buyer/debtor with complete details as required by Philippine law

2. Background: Context of the agreement and brief description of the transaction

3. Definitions: Definitions of key terms used throughout the agreement

4. Purchase Price and Payment Terms: Total purchase price, down payment, number of installments, and payment schedule

5. Truth in Lending Disclosures: Mandatory disclosures including finance charges, annual interest rate, and total amount payable as required by RA 3765

6. Payment Method and Billing: Specified payment methods, billing procedures, and due dates

7. Late Payments and Penalties: Consequences of late payments, applicable penalties, and default provisions

8. Rights and Obligations: Detailed rights and obligations of both parties

9. Title and Risk: Transfer of title and risk provisions

10. Warranties and Representations: Standard warranties and representations by both parties

11. Default and Remedies: Events of default and available remedies

12. Termination: Conditions and process for termination of the agreement

13. Governing Law: Specification of Philippine law as governing law and jurisdiction

14. General Provisions: Standard boilerplate provisions including notices, amendments, and severability

Optional Sections

1. Security Interest: Details of any security interest or collateral - include when the purchase requires security

2. Insurance: Insurance requirements for the purchased items - include for high-value items

3. Electronic Billing: Terms for electronic billing and notifications - include when offering digital billing options

4. Prepayment Terms: Terms for early payment or full settlement - include when prepayment is allowed

5. Co-Maker Provisions: Terms applying to co-makers or guarantors - include when there are guarantors

6. Return Policy: Terms for product returns or exchanges - include for retail installment agreements

7. Maintenance and Support: Terms for ongoing maintenance or support - include for equipment or service agreements

Suggested Schedules

1. Schedule A - Payment Schedule: Detailed breakdown of installment amounts, due dates, and applicable interest

2. Schedule B - Product Specifications: Detailed description of products or services being purchased

3. Schedule C - Interest Rate Calculation: Method of calculating interest and sample calculations

4. Appendix 1 - Disclosure Statement: Truth in Lending Act disclosures in prescribed format

5. Appendix 2 - Payment Methods: Accepted payment methods and processing details

6. Appendix 3 - Default Interest Calculation: Method of calculating default interest and penalties

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Annual Percentage Rate (APR)
Business Day
Buyer
Commencement Date
Default
Default Interest
Down Payment
Due Date
Finance Charge
Force Majeure
Goods
Installment Payment
Interest Rate
Late Payment Fee
Material Breach
Notice
Outstanding Balance
Parties
Payment Schedule
Penalties
Principal Amount
Purchase Price
Seller
Security Interest
Term
Total Amount Payable
Total Contract Price
Payment Method
Prepayment
Working Days
Electronic Notice
Default Notice
Delivery
Installation
Acceptance
Warranty Period
Co-Maker
Collection Costs
Billing Statement
Grace Period
Clauses
Payment Terms
Interest Rate
Default Interest
Late Payment Penalties
Security Interest
Title Transfer
Risk of Loss
Delivery
Warranties
Representations
Default Events
Remedies
Force Majeure
Notice Requirements
Assignment
Amendment
Severability
Entire Agreement
Governing Law
Dispute Resolution
Termination
Insurance
Indemnification
Consumer Rights
Disclosure Requirements
Electronic Communications
Data Privacy
Repossession Rights
Collection
Prepayment Rights
Registration
Maintenance
Return Policy
Cancellation Rights
Cooling-off Period
Documentation
Compliance with Laws
Notices
Waiver
Counterparts
Relevant Industries

Retail

Manufacturing

Financial Services

Consumer Goods

Automotive

Electronics

Furniture and Appliances

Construction Equipment

Industrial Machinery

Real Estate

Relevant Teams

Legal

Finance

Sales

Credit and Collections

Compliance

Risk Management

Operations

Customer Service

Treasury

Business Development

Contract Administration

Relevant Roles

Credit Manager

Finance Director

Legal Counsel

Sales Manager

Contract Administrator

Credit Analyst

Collections Manager

Compliance Officer

Account Executive

Business Development Manager

Risk Manager

Financial Controller

Operations Manager

Customer Service Manager

Treasury Manager

Industries
Republic Act No. 7394: Consumer Act of the Philippines - Provides the fundamental consumer rights and establishes standards of conduct for business and industry, particularly regarding installment sales transactions
Republic Act No. 3765: Truth in Lending Act - Requires disclosure of finance charges and other relevant terms in credit transactions, including installment payments
Republic Act No. 386: Civil Code of the Philippines - Provides the basic framework for contracts, obligations, and commercial transactions
Republic Act No. 8792: Electronic Commerce Act - Relevant if the agreement involves electronic transactions or digital signatures
Bangko Sentral ng Pilipinas (BSP) Circular No. 1048: BSP regulations on financial consumer protection, including guidelines on installment transactions and billing practices
Republic Act No. 10870: Philippine Credit Card Industry Regulation Law - While specifically for credit cards, its provisions on installment payments and billing practices are relevant references
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Installment Billing Agreement

A Philippine law-compliant agreement establishing terms for installment payments of goods or services, including payment schedules and consumer protection provisions.

find out more

Contract Agreement For Payment Installments

A Philippine law-compliant agreement that structures debt repayment into fixed installments, establishing payment terms and conditions under local regulatory requirements.

find out more

Installment Plan Agreement

A Philippine law-compliant agreement for structured periodic payments in purchase transactions, incorporating mandatory consumer protection provisions.

find out more

Lot Installment Agreement

A Philippine law-compliant agreement for the purchase of land through installment payments, incorporating Maceda Law protections.

find out more

Agreement To Pay Debt In Installments

A Philippine law-governed agreement that structures the repayment of an existing debt through defined installment payments.

find out more

Staggered Payment Agreement

A Philippine law-governed agreement establishing terms for installment payments between parties, including payment schedule, amounts, and default provisions.

find out more

Monthly Payment Agreement

A Philippine law-governed agreement establishing terms and conditions for structured monthly payments between parties, including payment schedules, methods, and default provisions.

find out more

Tax Payment Agreement

A Philippine jurisdiction agreement between the BIR and taxpayer establishing structured payment terms for outstanding tax liabilities.

find out more

Partial Payment Installment Agreement

A Philippine law-governed agreement establishing structured installment payments for an existing debt, detailing payment terms and obligations between creditor and debtor.

find out more

Installment Sale Contract

A Philippine law-compliant Installment Sale Contract template for structuring periodic payment sales with comprehensive buyer and seller protections.

find out more

Installment Sale Agreement

A Philippine law-governed agreement for the sale of goods with payment in installments, including credit terms and consumer protections required by local legislation.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.