By including a per diem amount in the letter, the parties will not have to execute another payoff letter if the termination date. Please accept this as my authorization to issue a payoff statement to.Through an effective date of . This format presents clear guidelines that individuals can follow to effectively fill out the Ohio Payoff form, facilitating a more efficient process. It typically details the principal balance, interest due as of that date, per diem, any late fees, etc. What is a Payoff Agreement? A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. Please provide payoff information for the above referenced mortgage. Also, please provide loan number and per diem interest. The release is what removes the lien, which in your case isn't there.