Montana Sample Letter for Remittance of Late Fee
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How to fill out Sample Letter For Remittance Of Late Fee?
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FAQ
Late Fee Policy Example 1 (Fixed or Interest): If payment is not received within those [30 days], any overdue and unpaid balances will be charged [a fixed fee of $25] [interest at a rate of 3% per month, charged daily until the balance is paid].
A late fee is a charge imposed on a consumer who fails to make the payment on a debt or other financial obligation by the due date. All late fees must be explicitly outlined to borrowers and must also be reasonable.
The invoice was due on [due date], and payment is now overdue by [number of days overdue]. Be advised that late payment interest may be applied if we do not receive payment within 30 days. Let us know when we can expect to receive payment for the outstanding invoice. Please find the outstanding invoice attached.
What Is A Reasonable Late Payment Fee? Typically, a low, percentage-based late fee is used when a payment is overdue on an invoice. Late fees usually range from 1% to 2% monthly interest rate, so staying near that range is the most reasonable approach.
Add Your Late Policy to Your Invoice Payment Terms For example, your payment terms could read: ?Thank you for your business. Payment is due within 30 days. Please be aware that we will charge 1.5% interest per month on late invoices.?
Late Fee Policy Example 1 (Fixed or Interest): If payment is not received within those [30 days], any overdue and unpaid balances will be charged [a fixed fee of $25] [interest at a rate of 3% per month, charged daily until the balance is paid].
Dear [Name], We require your immediate attention to resolve this issue. Invoice [invoice number] is now overdue by [number of days overdue]. If we do not receive payment within 10 working days, we will refer the matter to a collection agency.
Hi [CLIENT NAME], As of today, we will begin charging a late payment fee for missed invoice payments. Overdue balances will be subject to a late payment fee of [INTEREST RATE / FLAT RATE] per month, which will be charged daily until the owing balance is paid.
