Payment plan terms sheet

What it is

A one-page summary given alongside the signed agreement, so the customer understands what they owe and when. It does not replace the contract. Keep it in plain language and consistent with your approved rates and your state's rules on financing and fees.

Summary box (top of page)

• Total premium
• Amount paid today
• Remaining balance
• Payment amount and frequency
• First and final payment dates
• How to pay (in person, card, transfer) and where

Plain-language terms

• "The premium is the fee for posting the bond." State whether it is refundable under your state's rules.
• "If you miss a payment" — what happens, any late fee allowed, and grace period
• "If the case ends early" — whether the balance is still owed
• "Collateral" — what was taken and when it can be returned
• "Changing your plan" — who to call

Contact block

• Agency name, license number, phone and hours
• Name of the agent handling the account
• State insurance department complaint line

Acknowledgment

• Customer signature and date
• Agent signature and date
• Copy provided to customer