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Business Letter Writing: Account Terms and Conditions

ImageThe following letter outlines the terms of a newly opened business account.

Useful Key Phrases

·      Thank you for opening an account with...

·       I would like to take this opportunity ...

·       Invoices are payable within ...

·        As..., I will be happy to answer any questions you may have regarding...

·        ...and therefore encourage the use of...

·         We consider this incentive...

An example letter

Dear ____,

Thank you for opening an account with our company. As one of the leaders in this industry, we can assure you that our products and our services will not disappoint you.

I would like to take this opportunity to briefly set forth our terms and conditions for maintaining an open account with our firm. Invoices are payable within 30 days of receipt, with a 2% discount available if your payment is remitted within ten (10) days of receipt. We consider this incentive an excellent opportunity for our customers to increase their profit margin, and therefore encourage the use of this discount privilege whenever possible. We do, however, require that our invoices be paid within the specified time, for our customers to take advantage of this 2% discount.

At various times throughout the year we may offer our customers additional discounts on our products. In determining your cost in this case, you must apply your special discount first, and then calculate your 2% discount for early payment.

As the credit manager, I will be happy to answer any questions you may have regarding your new account. I can be reached at the above number. Welcome to our family of customers. End of Letter

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