What is a postponed payment?

Payment is an agreement in which the debt may not be repaid sometime in the future. The debt can be created when a person takes a loan or purchases good or service. Payment for a loan, good or service can then be postponed for a certain period of time, depending on the agreement. In some cases, the payment in full must be made within a certain date and in other cases several smaller payments can be made until the full amount is paid. Depending on the specific arrangement, interest could be added to the amount due, which begins immediately or after a certain time - or no interest could be added.

A common sales tool

The use of postponed payment plans is one of the more common sales and marketing tools used by companies. In principle, the basic concept is that customers can buy now and pay later. If the customer is not paying for the purchase immediately but has adequate expectations of the Byti -Divided Plan that is able to providePayment in full within a certain date, has a sense of consumers and the seller. Some companies only offer these plans for preferred customers, but others offer them to everyone.

Qualification process

companies that expand deferred payment options for customers usually use some type of qualification process. For example, the customer may have a long -term relationship with the seller and may have an excellent history of payments. New customers may have to undergo credit checks and other evaluation to ensure that they can meet all the requirements of their payment measures. In both cases, it is not uncommon for the deferred payment plan to include interest fees if the balance is paid according to the Plan. If the buyer does not make payments as stated in the agreement, the Throdejce E can start using interest fees for excellent balance.

Sample Delayed Plus PLana

A general postponed payment plan is a plan in which the customer does not have to make any payments and no interest is charged for the first six months after the purchase. After six months, the customer could pay the original amount in full or start making smaller payments. If smaller payments decide to make smaller payments, interest will usually be added until the debt is paid in full. For example, a person who can wait six months when buying a piece of furniture, which costs $ 600 (USD), then pay a full $ 600 or pay $ 50 or pay $ 50 or pay $ 50 or pay each month for the next 12 months.