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If the customer is paying by cheque, the remittance advice often accompanies the cheque. The advice may consist of a literal letter (e.g., "To Whom it May Concern: Your shipment of the 10th inst was received in good order; accompanying is our remittance of $52.47 per invoice No 83046") or of a voucher attached to the side or top of the cheque.
Interest can accrue from the latest of 30 days after the goods are supplied or the service is completed, 30 days after receipt of invoice (or the customer is told the amount due is payable). the agreed date for payment. The "statutory interest" rate chargeable, which is simple and not compound, is the Bank of England base rate plus 8%. The ...
A goodwill letter is a formal letter sent to a creditor, lender or collection agency to request forgiveness for a late payment or other negative item on your credit report. In the letter, you ...
Collateral management is the method of granting, verifying, and giving advice on collateral transactions in order to reduce credit risk in unsecured financial transactions. The fundamental idea of collateral management is very simple, that is cash or securities are passed from one counterparty to another as security for a credit exposure. [ 9 ]
Sample dunning record, from a 1913 business manual. Dunning is the process of methodically communicating with customers to ensure the collection of accounts receivable . Communications progress from gentle reminders to threatening letters and phone calls and more or less intimidating location visits as accounts become more overdue .
A power of attorney (POA) or letter of attorney is a written authorization to represent or act on another's behalf in private affairs (which may be financial or regarding health and welfare), business, or some other legal matter.
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The attorney–client privilege is one of the oldest privileges for confidential communications. [2] The United States Supreme Court has stated that by assuring confidentiality, the privilege encourages clients to make "full and frank" disclosures to their attorneys, who are then better able to provide candid advice and effective representation ...
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