[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Title] [Company Name] [Address] [City, State, ZIP] Subject: Request for Extension of Time on Promissory Note Dear [Recipient's Name], I hope this letter finds you in good health and high spirits. I am writing to request a time extension on the promissory note [number], which was executed on [date]. Due to unforeseen circumstances, I am unable to fulfill the payment obligations within the originally agreed timeline. I would like to emphasize my commitment to fulfilling this obligation and maintaining a mutually beneficial relationship. Despite the temporary setback, I am confident about meeting my financial obligations. However, I sincerely request an extension of [number of days/weeks] to allow me sufficient time to gather the necessary funds. With respect to the terms outlined in the original agreement, I would like to propose the following terms for the extension: 1. Extended Due Date: The repayment deadline should be extended from the original [original due date] to [proposed new due date]. 2. Revised Payment Schedule: If a lump sum payment is not possible by the new due date, I request permission to pay in installments over [number of months/years]. I assure you that I will make the payments promptly and in full to honor the original terms. 3. Additional Costs: If any additional interest or fees are applicable due to this extension, please provide me with a detailed breakdown so that I can adjust my financial planning accordingly. I understand that this request may cause inconvenience and I genuinely apologize for any disruption caused. However, I believe that granting this extension will strengthen our business relationship and demonstrate my commitment to upholding my financial responsibilities. I kindly request your prompt consideration of this extension request. To further discuss this matter, I am available at your convenience. Please feel free to contact me via phone or email provided above. Thank you for your understanding and cooperation. I sincerely appreciate your support and look forward to resolving this situation amicably. Yours faithfully, [Your Name]
Rhode Island Sample Letter for Request for Extension of Time on Promissory Note
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How to fill out Sample Letter For Request For Extension Of Time On Promissory Note?
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How to Write a Promissory NoteDate.Name of the lender and borrower.Loan amount.Whether the loan is secured or unsecured. If it's secured with collateral: What is the collateral?Payment amount and frequency.Payment due date.Whether the loan has a cosigner, and if so, who.
My next specify payment will be due on , 20 . Due to an unexpected emergency that has occurred, I will be unable to make this payment by the date I am requesting an extension of time to make this payment.
A simple promissory note might be for a lump sum repayment on a certain date. For example, you lend your friend $1,000 and he agrees to repay you by December 1. The full amount is due on that date, and there is no payment schedule involved.
Whether a promissory note is hand written or typed and signed, it is a legally, binding contract. LendingTree quoted Vincent Averaimo for saying, However, it would be foolish to sign a handwritten promissory note as it is easier to add language to a handwritten note after the fact as opposed to a typewritten one.
(Cordially describe your greetings). We will try our best to make the payment on time and apologize for the inconvenience caused to you. I ask you to consider my request for postponement of the last day for the advance payment of the money promised according to the deal signed between us and your company (date).
Detailed Information The note has all the required information including the name of the drawer and payee, date of maturity, terms of repayment, issue date, name of the drawee, name, and signature of the drawer, principal amount, and the rate of interest, etc.
A Promissory Note is a document that is signed by an individual that details the amount of money borrowed from another individual or organization (Lender). A promissory note is also referred to as a Promise to Pay note or a Note payable.
The financial condition of my family has become quite uncertain and unstable. As a result of this, I have not been able to pay my school fee for the month of May and June, 2019. Kindly give my family a time period of two weeks. I shall be able to pay the fee by July 2, 2019.
How to Write a Promise to Pay Letter?State the sum that is owed. This should be stated without adding on any interest fees or charges.Total sum.Correct date.Identifying the individual in debt.Identifying the creditor party.Payment dates.Sign and date.
How to write a leave extension letterCheck your company's leave extension rules.Include date, name and address.Add the name and address of the recipient.Add a subject line.Add a salutation.Refer to your original leave status.Explain the reason for the extension.Specify the duration of the extension.More items...?
