North Dakota Sample Letter for Notice of Credit Limit - Conversion to C.O.D. Status

• Category: Letters - Nonlegal - Credit
• State: Multi-State
• Control #: US-0394LR
• Format: Word; Rich Text

Description

Sample Letter for Notice of Credit Limit - Conversion to C.O.D. Status [Your Business Name and Address] [City, State, Zip Code] [Date] [Customer Name] [Customer Address] [City, State, Zip Code] Subject: Notice of Credit Limit Conversion to C.O.D. Status Dear [Customer Name], We hope this letter finds you well. We would like to take this opportunity to thank you for choosing our products/services and for your continued support as one of our valued customers. However, due to recent developments, we need to update you regarding a change in our credit policy. Regrettably, we have recently conducted a review of our accounts receivable, including outstanding invoices and credit history. As a result, we have decided to convert your account from its current credit limit arrangement to a Cash-on-Delivery (C.O.D.) status, effective [date]. This modification is necessary to ensure the financial stability of our business and maintain a fair balance among all our customers. We understand that this change may cause inconvenience, but please be assured that it is a temporary measure. To aid in the smooth transition, we have outlined the details and options for settling your outstanding balance: 1. Payment Methods: a. Cash: You may pay for your purchases using cash upon delivery. b. Certified Check: You may provide a certified check for the full amount upon delivery. c. Money Order: You may send us a money order for the full amount prior to delivery. 2. Reporting Payments: Once the payment is received and reconciled, your account will be credited accordingly, and your order will be processed promptly. 3. Outstanding Balance: As of [date], your account has an outstanding balance of [specific amount]. This balance must be paid in full before any further orders are processed. 4. Future Credit Consideration: If you wish to have your credit limit reinstated in the future, we advise working closely with our credit department to discuss the possibility, provided consistent and timely payments are made for a specified period. We sincerely apologize for any inconvenience this change may cause and hope for your understanding. We value our relationship with you and remain committed to delivering the same level of service and quality products that you expect from us. Should you have any questions or concerns, please do not hesitate to contact our credit department at [phone number] or email us at [email address]. Thank you for your attention to this matter, and we appreciate your understanding and cooperation during this transition. We look forward to serving you and continuing our business relationship in the future. Warm regards, [Your Name] [Your Title] [Your Business Name]

[Your Business Name and Address] [City, State, Zip Code] [Date] [Customer Name] [Customer Address] [City, State, Zip Code] Subject: Notice of Credit Limit Conversion to C.O.D. Status Dear [Customer Name], We hope this letter finds you well. We would like to take this opportunity to thank you for choosing our products/services and for your continued support as one of our valued customers. However, due to recent developments, we need to update you regarding a change in our credit policy. Regrettably, we have recently conducted a review of our accounts receivable, including outstanding invoices and credit history. As a result, we have decided to convert your account from its current credit limit arrangement to a Cash-on-Delivery (C.O.D.) status, effective [date]. This modification is necessary to ensure the financial stability of our business and maintain a fair balance among all our customers. We understand that this change may cause inconvenience, but please be assured that it is a temporary measure. To aid in the smooth transition, we have outlined the details and options for settling your outstanding balance: 1. Payment Methods: a. Cash: You may pay for your purchases using cash upon delivery. b. Certified Check: You may provide a certified check for the full amount upon delivery. c. Money Order: You may send us a money order for the full amount prior to delivery. 2. Reporting Payments: Once the payment is received and reconciled, your account will be credited accordingly, and your order will be processed promptly. 3. Outstanding Balance: As of [date], your account has an outstanding balance of [specific amount]. This balance must be paid in full before any further orders are processed. 4. Future Credit Consideration: If you wish to have your credit limit reinstated in the future, we advise working closely with our credit department to discuss the possibility, provided consistent and timely payments are made for a specified period. We sincerely apologize for any inconvenience this change may cause and hope for your understanding. We value our relationship with you and remain committed to delivering the same level of service and quality products that you expect from us. Should you have any questions or concerns, please do not hesitate to contact our credit department at [phone number] or email us at [email address]. Thank you for your attention to this matter, and we appreciate your understanding and cooperation during this transition. We look forward to serving you and continuing our business relationship in the future. Warm regards, [Your Name] [Your Title] [Your Business Name]