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A goodwill letter is a formal letter to a creditor or lender, such as a bank or credit card company, to request forgiveness for a late payment or other negative item on your credit report. In the ...
A letter of credit ( LC ), also known as a documentary credit or bankers commercial credit, or letter of undertaking ( LoU ), is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods.
A letter of intent ( LOI or LoI, or Letter of Intent) is a document outlining the understanding between two or more parties which they intend to formalize in a legally binding agreement. The concept is similar to a heads of agreement, term sheet or memorandum of understanding. Merger and acquisition agreements, [1] joint venture agreements ...
Dunning (process) Dunning is the process of methodically communicating with customers to ensure the collection of accounts receivable. Communications progress from gentle reminders to threatening letters and phone calls and more or less intimidating location visits as accounts become more overdue. Laws in each country regulate the form that ...
Remittance advice. Remittance advice is a letter sent by a customer to a supplier to inform the supplier that their invoice has been paid. If the customer is paying by cheque, the remittance advice often accompanies the cheque. The advice may consist of a literal letter (e.g., "To Whom it May Concern: Your shipment of the 10th inst was received ...
Demand letter. A demand letter, letter of demand, [1] (of payment), or letter before claim, [2] is a letter stating a legal claim (usually drafted by a lawyer) which makes a demand for restitution or performance of some obligation, owing to the recipients' alleged breach of contract, or for a legal wrong. Although demand letters are not legally ...
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