A 10day payoff refers to the time it takes for your new lender to pay off your old loans during a refinance. I have a car loan from ally that I am trying to refinance, the new lender has asked for a ten day pay off balance quote, I'm unsure what I'm supposed to send.By including a per diem amount in the letter, the parties will not have to execute another payoff letter if the termination date. The effective date of Chronic. A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. The defendant faxed a payoff statement-- a statement including the mortgage balance, per diem rate, and other charges it was due-- to the mortgagor. All lodging facilities must submit a registration application to the County within ten (10) days of the first lodging rental. I Check the payoff letter and it does not have a per diem amount. In fact it says specificity that will be valid through. Tax Matters: In the opinion of Barclay Damon, LLP, CoBond Counsel, under existing law and assuming compliance with the certain covenants.