FOR ACCOUNT SETTLEMENT
We are pleased to settle your outstanding receivable by agreeing to an installment plan whereby you will pay off the outstanding balance in installments of _______________ ($______) per ____________. Under this agreement, your first payment will be due on ___________ (month & day), ___ (year).
We look forward to your future business. If this meets with your understanding, kindly sign the enclosed copy of this agreement under the words "Agreed to and accepted" and return that signed copy to us.
Agreed to and accepted: