An instalment sale agreement between you and a credit provider allows you to buy a vehicle or asset using the principal debt, which you repay by means of regular instalments over an agreed period, with fees and interest.
About Form 9465, Installment Agreement Request. Internal Revenue Service.
An installment contract is a single contract that is completed by a series of performances–such as payments, performances of a service, or delivery of goods–rather than being performed all at one time. Installment contracts can provide that installments are to be performed by either one or both parties.
Examples of installment buying would be a home, a car, or other large purchases that require financing, such as a laptop. It allows the purchaser to buy without paying the entire amount upfront.
Computer Service Contracts: Contracts for computer or technology services, such as software subscriptions, often involve installment payments being made over a set period of time; Agricultural Sales Contracts: In these contracts, the goods are subject to seasonal cycles, such as produce or agricultural goods.