How to Write a Good Letter of Payment Template
A letter of payment template is a type of business document that states the details of a certain payment transaction . It is usually sent with an invoice to induce clients into completing payments as soon as possible. It can also be sent to confirm the agreed upon payment terms between both parties. The first part of the letter should clearly state the exact dollar amount that is owed to the recipient by the sender of the letter. This can be done using a reference point such as an invoice number or loan agreement. The recipient should also be reminded that they will need to pay the outstanding balance immediately. This should be stated in a polite but firm tone as it is important to make the recipient understand that failure to pay the outstanding balance will result in collection agency action or a lawsuit. In some cases, if the recipient is unable to pay the outstanding balance in full, it may be appropriate to offer an alternative payment arrangement. This can be in the form o...