Credit letters are documents sent by an individual or a company or a business organization to another individual or company asking for credit. Such letters are usually professional documents and must be written in a corresponding style.
- Credit letters are extremely important since the request for credit will be judged primarily on the basis of the letter and its arguments, and hence the document provides the first impression which can be very valuable.
- They must be well reasoned. The need for the credit must be mentioned and the credibility of the sender must be established. All necessary details like bank account, financial condition, current loans and debts and so on must be clearly put forward in the credit letter.
- All the information provided in the credit letter must be absolutely verified and accurate. Incorrect information in a credit letter can have legal repercussions. The tone of the credit letter must be polite and humble and the letter must on no account be imposing.
- The amount of credit needed and the purpose for which it is needed must be included. More importantly, why the recipient should consider extending financial help to the sender must be mentioned as well.
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