To write a demand letter for payment, summarize the facts of the situation so they are on record. Refrain from attacks, and subtly explain what the other party stands to risk. Outline exactly what you seek, and explain the legal actions you plan to take if necessary.Know More
Include exact dates and the where, why, how and more of the dispute in question. Include dollar amounts and any claims the other party made. Explain how you plan to prove your case, and list what any witnesses are prepared to say.
Outline the ways you plan to address the situation if payment is not made. This is designed to make the other party consider the risks of losing a lawsuit in small claims court or elsewhere, the time and energy defending a lawsuit might take and the possible negative publicity. Provide a deadline for payment, and specify the penalty, such as filing in small claims court, if the date is not met.
Use specific dollar amounts, and refer to enclosed invoices as necessary. Provide your contact information, such as a phone number where you can be reached during the day and at night.
Create a heading, write the body and create a footer to write a memorandum for record. The components and the format of the different types of memos are essentially the same.Full Answer >
The primary advantages of an LLC, or Limited Liability Company, revolve around its liability protections, flexible profit sharing and marginal record keeping relative to other business formations. Also, the personal assets of LLC members are not subject to the actions or business decisions of the LLC.Full Answer >
A POS or point of sale is the point at which a retail transaction is finalized, usually coinciding with the moment a customer makes a payment in exchange for goods. POS transactions are usually completed using debit or credit cards.Full Answer >
Contract management refers to contract-related administrative activities, such as bid invitation, bid evaluation, contract awarding, contract implementation, measurement of work completion and payment computation. Moreover, it involves the monitoring of a contract, making important changes and modifications to the contract and dealing with related problems. It ensures that both parties meet or exceed the expectations of one another.Full Answer >