In debt payment agreement letter, make sure that at the very beginning the debtor must have a written copy of all the payment details that are to be made so as to avoid any kind of controversy in future. A copy of this letter to be signed and returned to the borrower, Place for the signature of Lender The party paying a specific amount of money to another party for the articles received or the services rendered by the supplier is known as the payee. Since your last visit, we have been waiting for the payment to be made and clear all the dues from your end. Should you require any further assurance on this matter, please call our business account hotline on (216) 372-1390 and quote the account number and name of our client (Mr. R. Hope). Legal action may also be taken against you. If you have any questions, I can be reached at [Phone Number] or at [Email Address] any day after [7pm]. I ------ (mention your name) working as ----- (mention job title) would like to request to make an advance payment of ------ (mention the amount). So, a Letter of Request will be a perfect way to show your professionalism and this will also make the other party respond to the first party immediately. I —— (mention name) working as a ———– (mention company name) and working with —– (mention company name) just wanted to inform you that your payment is due with us. But, as we have checked our records, we have found that you still have not made your payment and only few days are left to make the payment. We must stress that you are not in arrears and payments are currently up to date as of writing, but for the past 4 months we have been receiving your checks on the 15th, which is late. There must be a cordial relation between the debtor and the creditor. It would be good if the letter has all the necessary financial documents attached to it. Printed Name of Borrower Payment agreements … Kindly note that according to our loan repayment agreement the loan should be paid in full on or before [DATE], and that this payment is made on [DATE]. This payment is for the 30 computer workstations Home Computing Inc. received on November 1st, 2009, transaction #456533. Also, many people feel that getting payments made through a written way is something that can keep it documented and as proof for both the parties. Per our last contact on (date) by (phone or letter) we came to an agreement as to what my payments will be on this account. You can contact us for any kind of clearance or doubt. We would like you to consider the invoice attached with this mail and complete the payment before the due date ------ (mention the date). to provide goods, services or money to another party the promise to pay letter is an indispensable component of the transaction. As you had visited us (mention the date) at ----- (mention the location) and we are glad to serve you. So while writing the letter make sure that you clearly specify the reason for not being able to pay the debt. [email protected], From, The Parties each represent that they have the authority to enter into this Agreement. 4. We had a pleasure serving you at ---- (mention company/outlet/organization) and would like you to know that it’s time you should clear your due and make the outstanding payment. It was our pleasure to connect with you and now as we are planning to work together, I ----- (Mention your name) would like to inform you that before we start working on the project it would be great if you can make an advance payment of ----- (mention the amount). Moreover, it also helps if one of the parties fails to make the payment on time and address the other, then it is kept as a record to get the payment done. For instance, the party loaning the money may require that the borrower pay them back with a cashier's check while prohibiting the use of a personal check. Please find enclosed a check of $625, addressed to Mr. Jeremiah Bouchard. [email protected], Subject :_______________________________________. This document clearly and legally defines the agreement between the parties and may be used as evidence in a lawsuit if one of the parties fails to uphold their side of the bargain. I ------ (mention your name) am writing this letter to inform you about ------------ (mention the reason). On behalf of our client, Mr. R. Hope, of Downtown Mechanics, we are notifying you that Chase Bank will irrevocably guarantee payment of any checks written by Mr. Hope, for his purchase of automobile parts from your business. These documents also may be utilized by insurance companies who ask customers to agree to certain payment terms. Payment Request Letter Template in PDF Format, Payment Request Letter Template in Word [Doc.] Use our sample personal loan paid in full letter as a template for your paid in full letter. Filed Under: Agreement Letter Tagged With: New Letters. List of Enclosures: Enclosed please find a check for [AMOUNT] that is the last payment due. In this kind of situation, the debtor can also come down to a settlement by negotiating the amount that is to be paid. 1.1 “Annual Return Payment” means an amount equal to ____ percent (__%) of Entrepreneur’s Gross Annual Income for each 12-month period beginning on January 1 and ending on December 31, with any 4. This Agreement is legal and binding between the Parties as stated above. It’s necessary to sign this document whether you are lending or borrowing money. this Letter Agreement (“Agreement”) is entered into effective _____ __, 20__: 1. Therefore, the creditor agrees to make a deal that … The letter is written to bring to your notice about the payment that needs to be released from your end ------ (mention the reason). Governing Law and Jurisdiction. Sometimes called a promissory note or an installment agreement, a promise to pay letter defines a transaction between at least two parties.Such agreements are common between companies that are agreeing to exchange money for goods or services. Mother Godse New York, USA Debt Payment Agreement Letter Writing Tips, Acknowledgment Letter of Notification of Lease Transfer, Termination of Consultancy Agreement Letter, Violation Of Non-Competition Agreement Letter. I would like to request you to kindly extend the deadline for completing the debt payment because my present financial situation prohibits me to complete the payment. An agreement letter for payment can outline the specific demands of the amortization schedule and the proper execution of the payment transactions for the principal borrowed amount to be covered and paid. The first payment of amount _____ $ has been enclosed along with this letter. The letter must be written in a polite and courteous manner as it is a negotiation letter and rudeness never helps anyone.