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Cancellation of Credit



Example 1: Sample letter for cancellation of credit

Company Name or Letterhead
Address
City, State Zip

Date

Addressee
Address
City, State Zip

Dear Mr. Slate:

Freeway Auto Parts has stringent rules for extending credit. Dave’s Tires has maintained an outstanding credit record with us for the past two years. However, because of several late payments within the last six months and a bill which is currently outstanding, Dave’s no longer fits our profile of companies eligible for credit. Therefore, we are terminating your credit account effective December 31. The account balance will be due in full at that time.

All future orders will be on a C.O.D. basis.

Sincerely,

Example 2: Example letters for cancellation of credit

Company Name or Letterhead
Address
City, State Zip

Date

Addressee
Address
City, State Zip

Dear Ms. Garcia:

As a result of the changes in your financial status this year, we feel we have sufficient reason to believe that Eco-Chem of Mayfield will be unable to maintain its credit in good standing at MacKenzie Laboratories. Therefore, we regret to inform you that we will no longer extend you credit. Any orders you make in the future must be paid for on a COD basis.

Sincerely,

     

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