Late or overdue payment creates lots of problems for small businesses. They find it very hard to manage the inflow and outflow of the cash when they are not sure when the payment is going to arrive. In order to have a collection of payment collection process which is smooth, there is a need to have solid communication. This is why business owners write letters to people who have to make the payment.
What is a letter for the third reminder for delayed settlement?
A reminder letter is always necessary whenever the other party does not pay the overdue money. If you have not received the payment despite sending two reminder letters earlier, it is the right time for you to write the third letter and ask for the settlement.
When you write the letter to recall, the settlement has already been delayed. So, now your purpose is to ask for a delayed settlement. Make sure that you do it confidently and in a professional way.
What is the purpose?
The basic objective of writing this letter is to encourage the reader to pay the money and agree to come to the settlement point. You don’t need to ruin the relationship with the client by continuously badgering him to pay the money. Rather, a sensible and professionally written can do its job.
Who writes it?
People who have been waiting for the settlement from the other party by making the payment can write this letter. In general, merchants write to their clients when they have not been paid for a while and the client has made promises to pay them. The merchant reminds the client of the settlement that is already late.
Tips for writing:
Some effective tips for writing a letter have been put together below. Read and follow them for the best results:
Remember the due date:
Every time you write a reminder, there is a due date given by you. So, when you are coming up with the third mnemonic, you should know what due date you gave in the last letter. Then make sure that you write before that due date so that the reader can recall what the due date was.
Give the description of the settlement:
As a merchant, you can assume that the client knows about the settlement since he agreed to it. However, you should never skip giving the description of the settlement. Mention the amount the client was supposed to pay and the date by which, he promised to make the payment. If there are terms and conditions of the settlement and they have also been fulfilled, it would not hurt anyone if you specify them too in the letter.
Write an informative letter:
Even if you are angry over not getting any response from the client, you should never forget that your sole purpose to write this letter is to prompt the client to take action and you don’t want to start a dispute with him by writing something offensive.
The best thing to do in this situation is to write a letter that is full of information. When the reader finds that the letter contains nothing but information, he takes more interest in it and is likely to appreciate your patience and take action.
Use a friendly tone:
Your letter should not upset the reader with the harsh tone as you will have to do business with him in the future also. Therefore, make sure that you write this letter in a friendly tone. In the same friendly tone, you can mention that you are writing a third reminder.
Below is a sample letter for you to help you write an effective letter for the third reminder.
Subject: Third reminder for [X]
I hope you are doing well. This letter is being written to remind you that your delayed settlement payment is due next week. I am compelled to write this third time because of the continuous delay from your side.
I would appreciate it if you take some time and look over the invoice I am attaching with the letter. In case you have any questions, feel free to contact me.
File: Word (.docx) & iPad
Size 22 KB
- Letter to Friend Expressing Support
- Letter to Employer Requesting Mental Health Accommodation
- Letter Requesting Reference Check Information
- Letter Requesting Salary Certificate
- Letter Requesting Recommendation from Previous Employer
- One Hour Off Permission Letter to HR
- Payroll Apology Letter to Employee
- Advice Letter to Subordinate on Effective Communication
- Advice Letter to Subordinate on Time Management
- Letter to Patient for Feedback/Responding Survey/Online Form