Payment Schedule Letter
For any two parties facilitating business with one another, payment from one to another will take a point at some time during this professional business. The payment is usually demanded by the producer or supplier from the consumer or client for his or her goods. Therefore a timeline of scheduled payment for the transaction of these goods should be in place.
When a producer is in the process of shipping off his goods he has the right to demand an advance for his goods. The aim of this is to secure the future payments as well as well as eliminating the possibility of the consumer not paying for the future goods. Due to these reasons, a Payment Schedule Letter becomes extremely important. Refer to the sample letter given below to write your own customized version of a payment schedule letter for your existing and future clients:
subject: Payment Schedule Letter
As your acquisition team must have briefed you, Afcon Exim and Textiles Co have recently entered a partnership to import and export textiles to and from India and Africa.
Afcon Exim- African Connection Export Import, remains India’s premiere company in the field of textiles. We personally look after the Twenty Plus factories operating across three cities in the country- Varanasi , Ahemedabad and Chennai. Quality has never been an issue. We are known for our quality as well as timely delivery.
Which is why it is an honor to enter into a partnership with your company, which remains one of the biggest players in the African market. Sir, to facilitate more business we would like to propose a payment schedule letter.
According to our talks, the first shipment is scheduled to leave from Gujarat on the DD/MM/YYYY. Sir, we request you to kindly make 30% payment of the shipment by DD/MM/YYYY. This can be done through a wire transfer, the details of which can be found with my accountant.
Further more the remaining 70% of the payment can be done in 2 installments over the span of the next two months. The first installment should be paid within a week of arrival in Benin and the 2nd installment should be made within 21 days of the second installment.
This is the schedule we follow for all our clients. In the case of any discrepancies, I would be happy to arrange a skype conference with all relevant people to discuss the details in depth.