Cancellation of Credit Line

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Date and Recipient

Date: {{date}}

{{client_name}}

{{client_address}}

Account Number: {{account_number}}

Subject

Subject: Notification of Credit Line Cancellation - Account No. {{account_number}}

Dear {{client_name}}

This letter serves as formal notification regarding the cancellation of your credit line facility associated with account number {{account_number}}, effective {{effective_date}}.

Reason for Cancellation

The decision to cancel your credit line is based on the following reason(s):

{{reason_for_cancellation}}

This may include, but is not limited to: sustained non-payment, breach of credit agreement terms and conditions, changes in creditworthiness, or a business decision by {{company_name}}.

Outstanding Balance and Repayment

As of {{date_of_cancellation}}, your outstanding balance on the cancelled credit line is {{currency}}{{outstanding_balance}}. Please note that interest and any applicable fees will continue to accrue on this amount until it is fully repaid.

You are required to repay the full outstanding balance by {{repayment_due_date}}. Failure to do so may result in further collection actions, including but not limited to, reporting to credit bureaus and legal proceedings.

Restriction on Further Drawings

Please be advised that with immediate effect, no further drawings or advances can be made on this credit line facility. Any attempts to access funds will be declined.

Actions to be Taken by Client

To facilitate the smooth closure of this credit line, we require you to:

1. Settle the outstanding balance of {{currency}}{{outstanding_balance}} by {{repayment_due_date}}.

2. Cease any further use of the credit line facility.

For your convenience, payments can be made via {{payment_methods_accepted}}.

Contact Information

Should you have any questions or require further clarification regarding this cancellation, please do not hesitate to contact our Credit Management Department at {{contact_phone_number}} or {{contact_email_address}} during business hours: {{business_hours}}.

Acknowledgement

We appreciate your understanding in this matter and thank you for your past banking relationship with {{company_name}}.

Sincerely

{{credit_officer_name}}

{{credit_officer_title}}

{{company_name}}