Installment Payment Agreement
An installment payment agreement is a loan for the full invoice amount, used for the finance of software. The vendor or developer of the software will hold title to the software, and the customer will acquire a license to use the software. Per the terms of the agreement, the customer will grant PEAC Solutions a security interest in the applicable license agreement, rights to payments, and proceeds, to secure the payment and performance of your obligations under the agreement.
This solution is very similar to an equipment finance agreement; the primary difference is the category of items being financed (equipment vs. software). For other differences, please consult with a sales or customer service representative.