diff --git a/contract_payment_mode/README.rst b/contract_payment_mode/README.rst
index 5d4ee46c0..09e27ba1f 100644
--- a/contract_payment_mode/README.rst
+++ b/contract_payment_mode/README.rst
@@ -34,6 +34,7 @@ Contributors
 ------------
 
 * Ángel Moya <angel.moya@domatix.com>
+* Antonio Espinosa <antonioea@antiun.com>
 
 
 Maintainer
diff --git a/contract_payment_mode/__init__.py b/contract_payment_mode/__init__.py
index a0fdc10fe..753e6ceed 100644
--- a/contract_payment_mode/__init__.py
+++ b/contract_payment_mode/__init__.py
@@ -1,2 +1,6 @@
 # -*- coding: utf-8 -*-
+# © 2016 Antiun Ingenieria S.L. - Antonio Espinosa
+# License AGPL-3.0 or later (http://www.gnu.org/licenses/agpl.html).
+
 from . import models
+from .hooks import post_init_hook
diff --git a/contract_payment_mode/__openerp__.py b/contract_payment_mode/__openerp__.py
index 1eee7c8b6..f9c12929d 100644
--- a/contract_payment_mode/__openerp__.py
+++ b/contract_payment_mode/__openerp__.py
@@ -35,6 +35,7 @@
         'views/contract_view.xml',
     ],
     'test': ['test/contract_payment_mode.yml'],
+    'post_init_hook': 'post_init_hook',
     'installable': True,
     'auto_install': True,
 }
diff --git a/contract_payment_mode/hooks.py b/contract_payment_mode/hooks.py
new file mode 100644
index 000000000..01ee2da21
--- /dev/null
+++ b/contract_payment_mode/hooks.py
@@ -0,0 +1,24 @@
+# -*- coding: utf-8 -*-
+# © 2016 Antiun Ingenieria S.L. - Antonio Espinosa
+# License AGPL-3.0 or later (http://www.gnu.org/licenses/agpl.html).
+
+from openerp import api, SUPERUSER_ID
+import logging
+
+_logger = logging.getLogger(__name__)
+
+
+def post_init_hook(cr, registry):
+    """Copy payment mode from partner to the new field at contract."""
+    with api.Environment.manage():
+        env = api.Environment(cr, SUPERUSER_ID, {})
+        m_contract = env['account.analytic.account']
+        contracts = m_contract.search([('type', '=', 'contract')])
+        if contracts:
+            _logger.info('Setting payment mode: %d contracts' %
+                         len(contracts))
+        for contract in contracts:
+            payment_mode = contract.partner_id.customer_payment_mode
+            if payment_mode:
+                contract.payment_mode_id = payment_mode.id
+        _logger.info('Setting payment mode: Done')