Dear [Name], I hope this letter finds you in good health. I am writing to sincerely apologize for the late payment of [mention the outstanding payment] for [mention the products or services provided by the company]. I am fully aware that this late payment has caused inconvenience to you, and I deeply regret any inconvenience caused. Furthermore, I take full responsibility for the delay in the payment as it was due to [mention the reason for the delay, e.g., an unexpected financial setback, a delay in processing invoices, or any personal circumstances]. However, please be assure that this delay is not indicative of our commitment to honoring our financial obligations, nor does it reflect our level of satisfaction with your services. I am reaching out to you personally to assure you that I understand the importance of timely payments, and I am dedicated to resolving this matter promptly. I have already taken the necessary steps to rectify the situation and make the overdue payment. You can expect the payment to be cleared by [mention the date by which the payment will be made]. I sincerely apologize for any inconvenience this may have caused, and I assure you that this late payment is an isolated incident. We highly value our business relationship with you, and I hope that this mistake won't overshadow the quality of our previous collaborations and our potential future partnership. Once again, I deeply apologize for the delay in the payment and any inconveniences it may have caused. I truly value your understanding and patience in this matter. If you have any concerns or if there is anything else that needs to be addressed, please do not hesitate to contact me directly at [mention your contact details] or [mention your email address]. Thank you for your kind attention and understanding. We genuinely appreciate your continued support and look forward to maintaining a positive business relationship with you. Sincerely, [Your Name] [Your Title/Position] [Your Company Name] [Your Contact Details]