Framing an explanation letter can be a really difficult task, as the letter should signify a genuine reason for the late payment. The basic motive of such a letter is to communicate to the lender the cause of the late payment. The letter must be of course, polite, short, and definite.
You have a statutory right to add interest and compensation to the debt you area owed by a commercial company. Use our late payment compensation calculator to calculate the amount. The second late payment letter template for a non-paying customer has optional text which allows you to add in the interest and compensation at this point.
It is a formal letter written by the company to the customer or sometimes addressed by the customers to the company. In both cases it is a formal way to ask to pay the outstanding payment politely. However, there is a way to write this formal letter and it is important to know how to write this letter.
This is an apology letter written by a customer to a supplier apologizing for non-payment or late payment. When you are writing this letter, try to be direct to point. State the actual reasons that contributed to the mistake. Apologize for the inconvenience caused.
Regardless of the situation, it is very important to seek apology. When you ask for apology, it shows that you are responsible for the mistake. This will help you from appearing to be a bad person. Make sure to be brief and to the point. Use good and kind words to convince the recipient of the letter. Good Reasons for Late Payment Busy Schedule.
Example 1: Letter for late payment. Company Name or Letterhead Address City, State Zip. Date. Addressee Address City, State Zip. Dear Mrs. Jones: As of July 2 we have not received a payment for your May telephone services. We realize that unusual circumstances sometimes interfere with prompt payment.Learn More
It is always a great idea to write an explanation letter to explain the reason of delay payment. In this letter, you should apology first and state that why you pay so late. If you cannot pay immediately, you have to tell the other party the exact date you will pay and promise that you will never delay.Learn More
When wondering about how to ask for payment without being rude, the most important thing you need to remember is to be direct, but also kind and professional. Write several payment reminder emails you’ll send in regular intervals.Learn More
Use the sample letter and notes to help you tailor your apology. By including a breakdown of what needs to be included in an effective business apology letter for a late payment, it will be easier to craft your own. Use the 'Notes' as a guide, while and replace the specifics with your own situation.Learn More
Letter to demand outstanding rent from a tenant If you’re owed rent by your tenant, you can send them a letter to demand they pay - as long as it’s been owed to you for at least eight weeks. Our letter can help.Learn More
The legal basis for out-of-court late payment reminder letters by companies, lawyers, and credit bureaus is found in the Sale of Goods Act 1979 and the Late Payment of Commercial Debts (Interest) Act 1998. Trading Standards oversees the implementation of these regulations.Learn More
It’s a worthwhile endeavor, as late payments can have a drastic impact on your credit score. Some people have experienced a 100 point hit to their credit after just one late payment. How to Write a Late Payment Explanation Letter. There are a number of ways you can write your late payment letter.Learn More
Delayed payment letters can be classified into two basic types; a reminder and an explanation letter. Reminder letters are sent to alert the defaulting person or a company that their payment is overdue. On the other hand, an explanation letter is written by a person who has been late in paying his debt or bill.Learn More
Once a serious late offense warning letter remain unnoticed, it can be a ground for the employee’s dismissal as he or she can affect the operations where he or she is expected to properly perform and show up on time. More than being late for a number of times, there are also employees who have a record of being absent in numerous working days.Learn More
Please find enclosed with this letter a check for two months' payment, plus a late fee. I am sorry for the delay, but I was unable to send last month's payment on time due to unexpected medical expenses. I appreciate the opportunity to do business with you and ask for your understanding during this temporary financial difficulty.Learn More
To write a letter of explanation for late payments because of a change of address, you could say that you did not receive your mail in a timely fashion.Learn More
A late payment letter is different from a letter before action in that we will demand payment of the debt that is owing to you, plus any statutory late payment compensation that you may be entitled to by law. Pursuant to the Late Payment of Commercial Debts Regulations 2002, as amended by the Late Payment of Commercial Debts Regulations 2013.Learn More