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A photography payment plan can be beneficial for both photographers and clients. While some photographers prefer collecting the full amount upfront, offering payment plans for costly services can make them more affordable for customers. Payment plans may incur interest, allowing photographers to benefit as well. A payment plan contract should include names of parties, service description, total balance, repayment plan details (down payment, interest rate, start date), payment instructions, late payment terms, signatures, and other applicable terms. For legal documents, visit eforms.com.