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Letter offering a client agreeable payment terms to settle a debt
What’s a letter offering a client agreeable payment terms to settle a debt and when should you use it?
You should use this letter if your business is owed a debt by another business, that business has failed to make a payment and you want to propose a way to settle the debt.
This template allows you to offer the client one-off payment terms that are agreeable to you.
Your proposal may allow for payment of the debt in instalments or perhaps even a reduced lump sum payment.
This template also makes it clear that there is no legal obligation on you to make any offer and that you are offering a different payment structure or payment terms on this occasion in order to facilitate payment by the client.
However, it also makes clear that you are not contractually bound to offer similar terms into the future.
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