A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. This is an example of a payoff letter used in a syndicated loan transaction.This payoff letter (including the defined terms such as Lenders,. Our Payoff Letter template facilitates easy loan settlements. This document clearly outlines the final payment amount, including any interest or fees. Notice of Intention to Pay Off Loan enrolled in Budget Drafting (Biweekly Payment) Plan for. Please allow 1-3 business days for the payment to post to the Treasurer's database.