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A Letter for Holding Orders During Pending Shipment

Here's the holding letter template that can be used when your customer is far enough behind in payments leading to a significant step by you of holding a new order.

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Editor · Highako Academy

Highako.com is a video-first micro-learning platform trusted by over 10,000+ Credit and Collections professionals. Leverage Highako to drive skill growth with role-specific expert video lessons, and hands-on assessments. Connect and collaborate with the largest credit community and get access to ready-to-use templates.

This letter can be used when a customer is far enough behind in payments that you take the significant step of holding a new order.

This letter is intended to notify a customer when an order is put on credit hold. The hope is that the recipient will not close its account and take its business elsewhere.

A Letter for Holding Orders During Pending Shipment

Here's the holding letter template that can be used when your customer is far enough behind in payments leading to a significant step by you of holding a new order.

Limited availability | See below

About this course

description

lessonOverview

This letter can be used when a customer is far enough behind in payments that you take the significant step of holding a new order.

This letter is intended to notify a customer when an order is put on credit hold. The hope is that the recipient will not close its account and take its business elsewhere.

Customers occasionally overreact to credit holds. However, most customers understand the collection process and recognize that they have to pay the penalty from time to time for delaying payments to their suppliers.
This letter is intended to make it as easy as possible for customers to remit.
Note that no specific commitment has been made to the customer that, if the past-due balance is paid, the order pending will be released on open account terms. It would be a mistake to make such a commitment. Suppose an offer to release on receipt of payment was made in writing. In theory, the customer could remit payment 120 days later, just prior to being placed for collection, and then demand that the order be released.
If any account becomes significantly past due, you should determine whether the account is still creditworthy before resuming shipments.
Salespersons normally have a vested interest in seeing that an order is released from credit hold. Therefore, they may be willing to participate actively in helping collect the delinquent balance.
This letter should be sent via email or perhaps fax to save time.

instructor

name	title	image	description	Ins
Editor	Highako Academy		Highako.com is a video-first micro-learning platform trusted by over 10,000+ Credit and Collections professionals. Leverage Highako to drive skill growth with role-specific expert video lessons, and hands-on assessments. Connect and collaborate with the largest credit community and get access to ready-to-use templates.

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About this course

description

lessonOverview

This letter can be used when a customer is far enough behind in payments that you take the significant step of holding a new order.

This letter is intended to notify a customer when an order is put on credit hold. The hope is that the recipient will not close its account and take its business elsewhere.

Customers occasionally overreact to credit holds. However, most customers understand the collection process and recognize that they have to pay the penalty from time to time for delaying payments to their suppliers.
This letter is intended to make it as easy as possible for customers to remit.
Note that no specific commitment has been made to the customer that, if the past-due balance is paid, the order pending will be released on open account terms. It would be a mistake to make such a commitment. Suppose an offer to release on receipt of payment was made in writing. In theory, the customer could remit payment 120 days later, just prior to being placed for collection, and then demand that the order be released.
If any account becomes significantly past due, you should determine whether the account is still creditworthy before resuming shipments.
Salespersons normally have a vested interest in seeing that an order is released from credit hold. Therefore, they may be willing to participate actively in helping collect the delinquent balance.
This letter should be sent via email or perhaps fax to save time.

instructor

name	title	image	description	Ins
Editor	Highako Academy		Highako.com is a video-first micro-learning platform trusted by over 10,000+ Credit and Collections professionals. Leverage Highako to drive skill growth with role-specific expert video lessons, and hands-on assessments. Connect and collaborate with the largest credit community and get access to ready-to-use templates.

related

image	tag	title	description	link	contentType
	KPIs and Reporting	A Complete Checklist on Acquired Receivables and Its Practices	Here's a checklist to use if you are responsible for a new account receivable acquisition. Follow this to keep your acquired receivables clean and effective.	https://academy.highako.com/checklist-on-acquired-receivables-and-its-practices
	A/R Frauds and Laws	Creditor's Guide to Secured Transactions: How to Protect Your A/R	Discover how secured transactions can increase your sales while protecting your receivables.	https://academy.highako.com/creditors-guide-to-secured-transactions