Approbation of New Credit Account

Company Letterhead (Sender)

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Date of Issuance

Date: {{date}}

Client Information (Recipient)

Client Name: {{client_name}}

Client Address: {{client_address}}

Contact Person: {{contact_person}}

Client VAT/Tax ID: {{client_vat_id}}

Subject: Approbation of New Credit Account

Dear {{contact_person}},

We are pleased to inform you that your application for a credit account with {{company_name}} has been approved.

Credit Terms & Conditions

The following credit terms and conditions will apply to your new account:

1. **Credit Limit:** Your approved credit limit is {{currency}} {{credit_limit}}.

2. **Payment Terms:** All invoices are due for payment within {{payment_days}} days from the date of invoice. (e.g., 30 days, 60 days).

3. **Interest on Overdue Accounts:** A monthly interest rate of {{interest_rate}}% will be charged on all overdue amounts, calculated from the due date until the date of full payment.

4. **Credit Period:** The maximum credit period granted is {{credit_period}} days.

5. **Account Review:** Your credit account will be subject to periodic review, and we reserve the right to adjust the credit limit or terms based on your payment history and financial standing.

6. **Usage:** The credit facility is to be used for the purchase of goods/services from {{company_name}} only.

Acceptance of Terms

By utilising this credit account, you acknowledge and agree to abide by the aforementioned terms and conditions. Please sign and return the enclosed duplicate copy of this letter as confirmation of your acceptance.

We look forward to a successful business relationship.

Contact Information

For any queries regarding your credit account, please contact our Credit Department at {{credit_department_phone}} or {{credit_department_email}}.

Signature Block

Sincerely,

_____________________________

{{approving_officer_name}}

{{approving_officer_title}}

{{company_name}}

**Client Acceptance:**

I/We, the undersigned, acknowledge and accept the credit terms and conditions outlined in this document.

_____________________________

{{client_authorised_signature}}

{{client_authorised_name}}

{{client_authorised_title}}

Date: {{acceptance_date}}