Change Of Payment Terms Letter Sample

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Reasons for Change Of Payment Terms Letter Sample

When a company needs to change its payment terms, it is essential to communicate this change effectively to its customers or clients. This can help avoid any misunderstandings or disputes and ensure a smooth transition to the new terms. Some common reasons for sending a Change Of Payment Terms Letter include:

Updating payment terms due to changes in the company’s financial situation
Adjusting payment terms to better align with industry standards
Notifying customers of new payment methods or processes
Informing clients of changes in billing cycles or due dates

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Dear [Recipient’s Name],

I hope this letter finds you well. I am writing to inform you that, effective [Date], there will be a change in our company’s payment terms. As part of our efforts to streamline our financial processes, we have decided to [briefly explain the reason for the change].

Our new payment terms will be as follows:

Payment due within [number of days] days from the date of invoice
Accepted payment methods: [list of accepted payment methods]
Late payment charges: [if applicable]

We believe that these new terms will benefit both parties and help ensure a smooth payment process. Should you have any questions or concerns regarding these changes, please do not hesitate to contact our accounts receivable department at [Contact Information].

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Thank you for your attention to this matter. We appreciate your continued partnership and look forward to your prompt payment under the new terms.

Sincerely,

Your Name