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The phrase "a precedent for payment" is correct and usable in written English.
It can be used in contexts where you are discussing a prior example or case that sets a standard for future payments.
Example: "The previous contract serves as a precedent for payment terms in our new agreement."
Alternatives: "a standard for payment" or "a benchmark for payment".
Exact(1)
Only four drugs, for non-Hodgkin's lymphoma or colorectal cancer, are part of the initial Medicare review, but officials said the decision on those drugs could set a precedent for payment decisions on other costly medications as the government prepares to add a far-reaching prescription drug benefit to the Medicare program.
Similar(59)
She said the payment set a precedent for other global brands that had not contributed to the fund, adding: "When workers die, you cannot walk away".
The Act would provide a precedent for many types of "special purpose payments" that became a common feature of Australian federal fiscal relations.
"Reparations payments to Namibia could set a precedent for Belgium and the Congo, France and Algeria or Great Britain and the history of the slave trade.
There is a precedent for such involvement.
There was a precedent for this.
There is a precedent for rotation.
There's a precedent for this.
"There is a precedent for relievers.
There is a precedent for this taste.
Because there's a precedent for it.
More suggestions(3)
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com