(Dec 13) Payment & Banking (Letters)

LETTER WRITING
UNIT 6: PAYMENT
3. Request for more time to settle an account
Dear Mr. Merton,
I deeply apologize that I was unable to settle your invoice dated 9 May for my order No. 3716
for ten Lotus dinner services at £35 each, catalogue No. L305, and twenty ‘Wedgwood’ dinner
services at £43 each, catalogue No. W218.
The consignment arrived in good condition, however, two days after the arrival of the
consignment, a warehouse flood damaged much of the stock.
I am waiting for my insurers to settle my claim so that I can renew my stock and pay my
suppliers. However, I am glad to inform you that the aforementioned insurers have promised
me compensation within the next four weeks. Once I receive this, I will promptly clear all my
suppliers’ accounts.
I trust that you will understand this difficult situation and be patient in this matter.
Yours sincerely,
Jean Morreau (M.)
6. Reply to request for payment

3 May 20--
Ms Helen Stuart
Chief Accountant
UK Cycles Ltd
Borough House
Borough Road
Cleveland
TS1 3BA
UK
Dear Ms. Stuart,

Account No. VS 301632
Thank you for your letter dated 25 March and 28 April regarding the delay in settling our
account with you.
First of all, we would like to take the opportunity to express our apology for overdue account
settlement. We are sorry to inform you that a recent fire at our Head Office, unfortunately, has
destroyed a lot of computer data; therefore, all correspondence with both suppliers and
customers has been disrupted. We are afraid that it will take time to return to our normal
routine.
We would appreciate it if you allow us a further 30 days, instead of 10, to settle. By that time,
our insurance company will have released compensation, and we can pay the outstanding
amount in full.
Please take our suggestion in consideration and we would be very grateful if you could allow
us some extra time as mentioned above.
Yours sincerely,
(signed)
Karl Janssen (Mr.)
Managing Director
UNIT 9: BANKING
4. Request for a loan
To : The Board of Directors
From : John Steele
Subject : Bridging loan , RG Logistics Ltd
Date : 19 September 20
STRICTLY CONFIDENTIAL
I had a meeting with Mr Richard Gray , of RG Logistics Ltd , on 17 September . He admitted

that his company had difficulties recently, but he would like to expand his fleet by buying a
further two second - hand trucks, and requested an extension on his loan to cover the
investment .
I informed him that we would have to refuse an extension on his existing loan , but explained
that we may be able to offer a bridging loan. He suggested that he would need £50,000 , but he
is confident that the revenue generated by the extra would enable him to repay the loan within a
year. He is able only to offer the trucks themselves as security.
I promised him that I would consult him this week.
5. Refusing a loan
Dear Mr. Grey,
According to our meeting on 19th September, I regret to inform you that we will not be able to
offer you a bridging loan. The Board of Directors have asked me to inform you that it is the
bank’s policy only to offer substantial loans against negotiable securities such as shares or
bonds.
As this offer is beyond our ability so we would like to recommend to you that you may be able
to raise the needed capital from another source such as a finance corporation. However, it is
important to notice that their interest rates are likely to be significantly higher than ours.
Once again, I sincerely regret that we have to disappoint you in this matter but we hope that
there will be another change to help you more in the future.
Your sincerely,
John Steele
Manager.
9. Documentary credit 2
Dear M.Diderot
L/C No.340895/ AGL
Thank you for your advice on 8 July. We would like to inform you that we now have affected
shipment to BestValue and enclose your draft for £5,300 as well as the shipping documents you
requested.
Please accept the draft and remit the proceeds to our account at the Banque de Commerce, 28
rue Gaspart-Andre, 69002, Lyon.
Hope to hear from you soon.
Yours sincerely,
James Freeland
Château Wines
Enc. Airway bill
Invoice CIF London
Insurance certificate

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LETTER WRITING

6. Reply to request for payment

Dear Ms. Stuart,

I had a meeting with Mr Richard Gray , of RG Logistics Ltd , on 17 September . He admitted

L/C No.340895/ AGL

Hope to hear from you soon.

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