Withdrawing Credit

Dear Mr. Edward,

The past twelve months saw a drastic deterioration in your payments. Your credit limit was exceeded on five different occasions despite our protests. Now your debit balance stands at USD6000, which is again above your credit limit.

So, at the last meeting, the Board has decided to withdraw the credit facility that was given to you some eighteen months back. Thus from today all your orders will be handled strictly on a cash basis. Payment must be made first before delivery of goods.

In addition, your outstanding balance of USD6000 must be settled first before we can process any new order.

Yours sincerely,

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