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A photography payment plan is an agreement between a photographer and a client for the use of images or services. While some photographers prefer full payment upfront, offering payment plans can make services more affordable and attract customers. These plans may also allow photographers to collect interest, benefiting both parties. A payment plan contract should include essential elements such as the names of the parties, a description of services, the total balance due, repayment terms including down payment and interest rate, payment instructions, late payment stipulations, and signatures. For more legal document resources, visit eforms.com.