How to draw up a supply agreement with deferred payment in 2021

What is a deferred payment to a supplier?

When we talk about deferred payment to a supplier, we mean payment of debt for products, when the entire amount is postponed to a later date than specified in the contract.

Nowadays, goods are often delivered with deferred payment to the supplier, this is a common practice for many organizations. Depending on the liquidity of the product, the supplier may provide a loan for a period of several days to several months, during which the buyer is obliged to pay for the products he purchased.

In this case, the buyer has the following benefits:

• There is no need to withdraw significant funds from circulation;
• There is virtually no risk of receiving a defective product;
• It is convenient to repay debt due to a flexible schedule.

There is also a benefit for the supplier.

The fact is that by delivering goods with deferred payment, the supplier acquires significant competitive advantages. Now he can not only attract new clients, but also build long-term, mutually beneficial relationships with them. Also from practice, you can see that a delay contributes to a significant increase in the amount of the check and, as a result, the supplier’s profit increases.

What is a deferment of delivery, what legal norms govern the procedure for granting a deferment

Based on the principle of freedom of contract, the parties to the transaction have the right to agree on any conditions that do not contradict the requirements of the law (clause 1 of Article 421 of the Civil Code of the Russian Federation).
Accordingly, it is possible to agree on a condition that, under certain conditions, the supplier can delay the delivery of goods. The procedure for deferring delivery in a supply agreement is not regulated at the legislative level, therefore the parties to the transaction have the right to determine the possibility of such a deferment and its conditions independently. In practice, this is most often used in the case when the goods are delivered in parts with prepayment for each subsequent shipment.

For example, under a supply agreement with deferred delivery of goods, the parties may determine that deliveries occur in installments on a monthly basis after the money for the next shipment is received in the supplier’s bank account. Payment is made before the date of the next month specified in the contract. In case of non-receipt of the next payment, a deferment of delivery until the receipt of funds is applied.

How to calculate how much a deferred payment to a supplier will cost a client

It must be remembered that every time a supplier defers payment, he incurs financial losses. Most organizational leaders calculate the cost of deferment as follows:

To calculate your savings, you will need this formula:

OP = (KDO / 365) x (BP / 100%) x SK,

Values: OP – deferment amount, rub.;

KDO – number of days of deferment;

BP – bank percentage on borrowed funds, %;

SC – contract amount, rub.

The calculation using the above formula shows quite accurately how much money you will save if you take advantage of deferred payment from the supplier. The essence of it is that you calculate what funds you would spend to take out a bank loan and pay directly upon delivery.

In addition, this formula will show how much money your organization spends by giving respite to its customers. To obtain this indicator, add 20% to the resulting number, which takes into account the risks of complete non-repayment of funds and expenses to collect overdue debt.

To estimate the cost of credit funds, take into account both the annual interest and all sorts of one-time bank payments for opening a line of credit: all kinds of commissions, registration and insurance of collateral and other expenses that arise when applying for and servicing a loan.

There are entrepreneurs who, with this formula for calculating the deferment for a supplier, consider not the bank’s percentage, but the profitability of alternative financial investments (for example, in shares, in another business), or a certain percentage that is tied to the profitability of the business.

This formula will be useful to you if you want to purchase products with prepayment, and also with long delivery. Here it turns out that you are essentially lending money to the supplier. Prepayment is calculated in the same way, only replace the number of days of deferred payment to the supplier with the number of days from payment until the goods arrive to you.

There is such a practice: in a company, the client pays a price, and a percentage is added to it, depending on how many days the payment to the supplier will be deferred. For example, a product costs 200 rubles, if postponed for a week – 202 rubles, and for a month – 210 rubles. Here, first of all, prices that are offered with a deferment must be improved as much as possible, and it is also necessary to calculate the benefits of this proposal.

You can evaluate the profitability of the cost of a product with a deferment in comparison with the cost without it using the following inequality:

NZO / (100% - NZO) x (365 / KDO) x 100% ≤ BP,

where NPO is the premium for deferment, % (how much discount is lost if the transaction takes place using a deferred payment to the supplier);

KDO – number of days of deferment;

BP – bank interest on a loan, %.

When the inequality is satisfied, then using the supplier’s funds is more profitable than a loan, and deferring payment to the supplier will be profitable. In the same case, if the inequality is incorrect, that is, the number on the left side is greater than on the right, then it is not profitable to defer.

Let's say you purchase canisters and pay for them upon delivery. The cost of one canister is 200 rubles. As a result of negotiations on improving delivery conditions, you came to the conclusion that, taking into account the 21-day delay you are interested in, the price of a canister for you will be 206 rubles. The financial director announced that your company can now borrow funds at 22% per annum. So, your premium for deferred payment to the supplier will be (206 ‒ 200) = 6 rubles, which is 3%. Now you need to evaluate the profitability of deferment under these conditions:

3 / (100 — 3) × (365 / 21) × 100% = 53,75 ? 22

53,75% > 22%

The number on the left is significantly larger than the one on the right. Inequality showed that under the given working conditions, it is simply unprofitable to defer. It is necessary to either negotiate again, or make a strategically important decision: you agree to work with payment upon delivery, or you prefer deferred payment to the supplier, which will be much more expensive than credit money. In this example with canisters, it will be beneficial for the entrepreneur to negotiate a deferment of 21 days with a price increase of a maximum of 1.25%.

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Most foreign manufacturing companies do not agree to deferment terms with Russian suppliers. They strive to get the lowest price and convenient conditions instead. At the same time, the European currency is worth six to ten times less than the Russian currency at a loan rate of about 3% per annum. This is why it is unprofitable for an organization from Europe to negotiate a deferred payment with suppliers from Russia; this amounts to expensive lending.

When there is a need to compare two suppliers with an identical product, but with different prices and a deferred payment to the supplier (when other conditions are equal), you can use the “conditional purchase price” - estimate the cost of the purchase taking into account the deferment using this formula:

UslZak = ZAK x (1 – (BP / 100%) x (KDO / 365)),

where UslZak – conditional purchase price with deferment, rub.;

ZAK – purchase cost, rub.;

BP – percentage of borrowed funds from the bank;

KDO – number of days of deferment.

For example, supplier 1 provides a product worth 200 rubles. without deferred payment. Supplier 2 can offer a price of 205 rubles. and a 30-day grace period. Let's say that your organization can borrow funds at 22% per annum. Which of the two offers is more profitable? We calculate the conditional purchase price in these two cases:

Fast. 1: UslZak = 200 × (1 – (22 / 100) × (0 / 365)) = 200 rub.

Fast. 2: UslZak = 205 × (1 – (22 / 100) × (30 / 365)) = 201.3 rub.

So, in the first case there is no deferred payment to the supplier, but this particular offer is more profitable than that of the second supplier. This formula makes it possible to calculate that the offer of the second supplier is more profitable than the offer of the first if the delay is more than 41 days.

How to draw up an agreement under which a deferred payment is granted to a supplier

Before you begin drawing up an agreement that provides for deferred payment to a supplier, familiarize yourself with important aspects of the law in advance. This way you will avoid a lot of difficulties later. Carefully study issues related to the legal validity of the contract so that there is no situation where it is impossible to use it in court.

It is worth studying these sections of the Civil Code:

• Art. No. 485 of the Civil Code of the Russian Federation - How to determine the pricing policy of products, etc.;
• Art. No. 486 of the Civil Code of the Russian Federation - Payment for products, regulations;
• Art. No. 487 of the Civil Code of the Russian Federation - How goods are pre-paid;
• Art. No. 488 of the Civil Code of the Russian Federation - How to implement payment for products sold on credit;
• Art. No. 489 of the Civil Code of the Russian Federation - Issues relating to payment for goods in installments;
• Art. No. 490 of the Civil Code of the Russian Federation - Issues related to product insurance;
• Art. No. 491 of the Civil Code of the Russian Federation - On the seller’s property rights until payment.

Remember that the most basic points must be reflected in appropriate documents. Based on them, the form of the future agreement is selected, where the relations of the parties will be formalized, confirmed by documents.

As a rule, deferred payment to the supplier is initially included in the contract for the supply of goods. For this reason, the main document you will rely on is the Civil Code of the Russian Federation.

It would be optimal to formulate an appropriate agreement that includes a deferred payment to the supplier. Currently, it is quite easy to find a template that will be drawn up taking into account all regulatory documents.

This kind of document is compiled according to a strictly defined format, including the following sections:

• The name of the document and its individual serial number;
• Where was the contract drawn up and when?
• Supplier – a specific official, full name and position;
• Customer – also full name, position;
• Subject of the agreement;
• Rights and obligations of the parties; delivery conditions;
• Cost of products, terms of payment for them; how controversial situations are resolved; conditions for changing and terminating the contract after conclusion;
• Obligations of the parties;
• Procedure in case of force majeure;
• The duration of the contract and what determines it;
• Conclusion; legal addresses of the supplier and customer.

It is important to know that the maximum amount of deferred payment to the supplier varies in different ranges - from 0 to 100%. The amount of deferment depends on the product itself and the method of its sale. There are many different nuances that are associated with deferment. As a rule, a deferred payment to the supplier is needed when products are purchased for sale, then debts are settled after their sale. Chain stores often operate using this system. The goods are purchased from the supplier, after which they are sold within a certain period of time, and only then payment for the products is made.

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Rules for drawing up the contract itself

The following items must be included in standard documents:

1. Each party provides details and signs the document.
2. Conditions in addition to the basic ones.
3. Force majeure with force majeure.
4. Responsibility of each party.
5. The period for which the contract is valid and when it terminates.
6. Delivery: in what terms, under what conditions?
7. Calculations, with order and deadlines.
8. Description of the item.
9. A cap.

The name of the agreement is placed in the very center. The city is brought into the left corner. On the right is the date. After this, they move on to a description of the data of each party, and the terms and concepts that will be used in the document itself. The subject of the agreement provides a description of the actions performed by each party.

Next comes the cost of the goods along with the payment term. The main thing is that the figures coincide with the invoices paid by the supplier and the buyer. It is necessary to indicate the time for which calculations must be made.

It is also important to determine the terms and conditions of delivery in advance. Several parameters need to be taken into account:

• Guarantees
• How are the necessary documents transmitted?
• Carrying out a check for compliance with the declared quality
• Possibility to refuse to receive goods
• The process by which an object becomes the property of another
• Delivery: when, to what address
• Safety and features of goods

It is necessary to indicate not only the general duration of the agreement, but also the conditions under which this action is terminated. For example, if one party does not perform any actions. It is desirable to have conditions under which the agreement can be terminated unilaterally. After this, there are other circumstances related to the execution of the contract.

Trade Law and Deferred Payment to Food Suppliers

It is important to know about current changes in the Trade Law, which affected issues with deferred payment to suppliers for food products.

Due to recent amendments, all aspects of the contract for the supply of food products are established by their expiration date. In the event that this period does not exceed 10 days, the deferment period is assigned no more than 10 working days from the date of acceptance of the goods by the buyer. If the storage period is from 10 to 30 days, then the deferment of payment to the supplier is a maximum of 30 days (according to the calendar) from the date of receipt of the goods. When the product is good for more than 30 days, the buyer must pay for such products no later than 45 calendar days from the date of receipt.

Regulatory regulation

The Civil Code of the Russian Federation establishes a general rule regarding payment for goods, when money is transferred immediately after the transfer of goods. At the same time, the right is given to purchase the goods in installments. The relationship is built purely between the seller and the buyer.

Another option is to purchase goods on credit, using bank funds. The seller immediately receives the money, and the debt is repaid to the bank. The loan is issued with the expectation of repaying the debt in one payment or is also issued in installments.

How to convince a supplier to defer payment if he refuses

Alas, entrepreneurs often refuse a deferment, having compelling reasons for this, because by supplying products with a deferred payment, the supplier risks:

• Cash gaps;
• Desynchronization of commodity and financial flows;
• Reducing the volume of funds in circulation;
• Reducing available liquidity;
• Reduced profitability and financial stability of the company.

In addition to the above, the situation may be aggravated by the fact that monitoring accounts receivable is traditionally the responsibility of a sales manager (one or more), and this is not very correct. After all, the sales manager strives to increase sales, and he is a person interested in maintaining good relationships with the buyer. And the manager, as a rule, when there is a delay in deferred payment payments to the supplier, finds it difficult to find leverage when the debtor simply does not fulfill its obligations.

However, there is no need to despair. Such a thing as granting a deferred payment to a supplier in the domestic market is a common thing. In addition, if previously loans were given only for consumer goods, today this practice is ubiquitous. This is beneficial for both parties. The supplier gets loyal customers, while the buyer now has the opportunity to pay not immediately, but, for example, 2-3 months later. There are, of course, accompanying difficulties, but they are all solvable.

A very convenient solution to this issue is the appearance of a third party: it can “close” the cash gap and take on the risk of non-payment. This third party may be a factoring organization that provides a range of services, including those related to financing supplies, guaranteeing receipt of payments, or simply purchasing receivables. The listed services are accompanied by debt management for deferred payments to the supplier. Such companies accompany payment for supplies from the moment of monitoring the duration of the payment period until the full range of actions for the return of receivables.

The whole range of the above, it essentially provides factoring here, and whether the funds will be returned to the factoring company depends on this. At the same time, the supplier receives both financing and guarantees - he is provided with funds at the time of deferred payment, for him such cooperation simply eliminates losses.

Cooperating on factoring is not only about building relationships so that the procedure for deferring payment to the supplier is beneficial to both parties. Therefore, before entering into this cooperation, both the client and the factoring company must voice their own capabilities and expectations. For example, a client has 5 debtors who receive products monthly on deferred payment to suppliers for a total amount of 30 million rubles. The client can transfer such debtors to factoring in order to receive funds at the time of deferment, thereby filling the emerging cash gap. An independent factoring company has the ability to finance receivable deliveries and accept the risk of possible non-payment for products.

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The process of factoring services begins from the moment the initial deliveries are transferred, before which an agreement is signed between the company and the factor. With the conclusion of the contract, the client begins to transfer information about debtors in order to set a limit on them and subsequent services. But before setting a limit on a debtor, the factoring organization first of all collects information on all transferred debtors, and then sets limits. The amount of the limit can be considered in fact the size of the risks that the factoring organization bears by paying the client funds for shipments to this buyer, issuing a guarantee in the event of probable non-payment of deferred payments to suppliers and assuming obligations, if necessary, to compensate for losses or to buy out receivables from the client.

At the same time, the matter is not limited only. It is also important that the debtor signs an agreement regarding factoring. He accepts the terms of the notification about the transfer of payments to the factoring organization and agrees to take action on receivables, and if there are delays, they will call and promptly remind about payment.

So, there is a signed agreement on deferred payment to the supplier, verified debtors, established limits, as well as all signed notifications. From this point on, the supplier can ship the product on a deferred basis, and he can be sure that he will receive financing upon shipment of the product and the transfer of information about the shipment to the factoring organization.

This is what the essence of the whole picture looks like, without descriptions of its various nuances. In this case, we can consider, in general, all the functions of factoring:

• Checking the buyer’s credit history and business reputation;
• Control over payment for delivery;
• Assumes the risk of non-payment;
• Helps in building a competent tariff and limit policy for the organization.

Naturally, deferring payment to a supplier is much more complicated and has numerous nuances, which should only be taken into account by a specialist with extensive experience. Finding one is a real headache, but you are reading this article, which means that such a problem will not arise for you: specialists who provide accounting services to small and medium-sized businesses have extensive experience and will be able to help you understand what is related to the issues on deferred payment to the supplier, and more. Working with Business Resource, you will be protected from all kinds of risks and will receive a responsible contractor who will provide the advice you need and quickly carry out all the necessary professional procedures.

Installment payment agreement sample download form

AGREEMENT

PURCHASE AND SALE OF GOODS

(WITH INSTALLMENT PAYMENT)

_______________ “____” ____________ 20__

_____________________________________, hereinafter referred to as the “Seller”, represented by ___________________________________, acting on the basis of the charter, on the one hand, and

Individual entrepreneur __________________________________________________, passport_____________ issued by ___________________________________________________, valid on the basis of certificate No._____________________________________________ issued by _______________________________________________________________________

hereinafter referred to as the “Buyer” on the other hand, hereinafter referred to as the “Parties”, have entered into this Agreement as follows:

1. Subject of the Agreement

• The Seller undertakes to transfer the goods to the Buyer ________________________________

(general name, type of product)

in quantity and assortment, in accordance with Appendix No. 1 to this Agreement (hereinafter referred to as the Goods), and the Buyer undertakes to accept and pay for the Goods.

1.2. The Goods are transferred to the Buyer on the terms of payment by installments for the Goods in the manner provided for in this Agreement.

1.3. The goods belong to the Seller by right of ownership, are free from any rights of third parties, are not encumbered with collateral, and are not under arrest.

1. Rights and obligations of the parties

2.1. The seller undertakes:

2.1.1. Within 3 (three) working days from the date of signing this Agreement, transfer the Goods to the Buyer. The transfer of the Goods is carried out in accordance with the delivery note signed by representatives of both Parties. Place of delivery of the Goods: the seller’s warehouse located at: ________________________________.

2.1.2. Transfer the Goods in quantity and assortment corresponding to Appendix No. 1 to this Agreement.

2.1.3. Simultaneously with the transfer of the Goods, transfer to the Buyer all necessary documentation for the Goods.

2.2. The buyer undertakes:

2.2.1. Accept the Goods and pay for them on the terms agreed in Article 3 of this Agreement.

1. Product price and payment procedure

3.1. The price of the Goods is ____________ (________________________________) rubles, including VAT _________ (__________________________________________________________).

Payment is made by transferring funds to the Seller's account specified in the contract or by depositing cash into the Seller's cash desk.

3.2. Payment for the Goods is carried out by the Buyer in the following order:

___%, which is __________ (_________________________________) at the time of signing the contract;

___%, which is ___________ (__________________________________________) with a deferred payment of _________ (_________________________________) days from the date of signing the agreement.

3.3. The Buyer has the right to pay the Seller the full amount of the contract ahead of schedule.

1. Transfer of ownership

4.1. Ownership of the Goods passes from the Seller to the Buyer from the moment the Parties sign the acceptance certificate for the Goods.

4.2. The parties are required to sign the acceptance certificate of the goods within 3 (three) working days from the date of payment by the Buyer of the entire contract amount specified in clause 3.1.

1. Responsibility of the Parties

5.1. In case of delay in payments specified in clause 3.2. of this Agreement, the Buyer pays the Seller a penalty in the amount of __ percent of the contract amount for each day of delay.

5.2. Payment of penalties does not relieve the Buyer from paying the amount due.

5.3. The amount of debt payable to the Seller is paid by the Buyer taking into account the consumer price growth index calculated by government statistical bodies.

1. Force majeure circumstances

6.1. The Parties are released from liability for failure to fulfill or improper fulfillment of their obligations under this Agreement in the event of force majeure circumstances directly or indirectly preventing the execution of this Agreement, that is, such circumstances that are independent of the will of the Parties and could not have been foreseen by them at the time of conclusion of the Agreement and prevented by reasonable means when they occur.

6.2. The circumstances specified in clause 7.1 of the Agreement include: war and hostilities, uprising, epidemics, earthquakes, floods, acts of government authorities directly affecting the subject of this Agreement, and other events that the competent court recognizes and declares as cases of force majeure.

6.3. The Party affected by such circumstances is obliged to immediately notify the other Party in writing of the occurrence, type and possible duration of the relevant circumstances.

6.4. The occurrence of the circumstances provided for in this article, subject to compliance with the requirements of clause 8.3 of this Agreement, extends the period for fulfilling contractual obligations for a period that generally corresponds to the duration of the occurrence of the circumstance and a reasonable period for its elimination.

6.5. If the circumstances provided for in this article last more than three months, the Parties will jointly determine the further legal fate of this Agreement.

1. Additional terms

7.1. In the event that the Seller replaces the goods under warranty in full or in part, before the termination of the contract, the parties are obliged to make changes in the annex to the contract within three working days from the date of replacement of the goods.

1. Final provisions

8.1. This Agreement comes into force from the moment of its signing and is valid until the Parties fully fulfill their obligations.

8.2. Disputes and disagreements arising from this Agreement or in connection with it will be resolved by the Parties through negotiations. If no agreement is reached, the dispute is referred to an arbitration court.

8.3. Any changes and additions to this Agreement are valid only if they are in writing and signed by the Parties.

8.4. Any additions, protocols, annexes to this Agreement become its integral parts from the moment of their signing.

8.5. In everything that is not specified in this Agreement, the Parties are guided by the current legislation of the Russian Federation.

8.6. This Agreement is drawn up in three copies having equal legal force, one copy for each of the Parties.

1. Addresses and bank details of the Parties

How else to increase the deferred payment from the supplier

There are 2 options to convince to defer payment:

• Insist that the supplier enter into the organization's position;
• Inform about agreements with other sellers.

Negotiations conducted with a supplier using the “Enter our position” strategy are essentially bargaining. You should resort to a bargaining strategy when the seller is a monopolist, and you are completely satisfied with the quality and delivery times. When meeting with the counterparty, explain why you need a deferred payment from the supplier and for how long.

When you are preparing for negotiations, ask the merchants for a forecast of their income for the next 3 months. Find out from them whether they will fulfill their share of shipping obligations within such a period. It is important to study all reports on debts and assess how much they have increased and what measures have been taken to return the overdue ones.

The collected information data will give you the basis for preparing arguments to the counterparty; you must explain why there was a cash gap, and also convince that the organization’s problems are temporary.

Prove in numbers how many days you need to extend the deferred payment to the supplier and why, a financial forecast for the next 3 months will help you with this. Prepare two versions of it. In one, focus on the current deferred payment from the supplier, in the second, indicate the data that will allow you to avoid a financial deficit. There is no need to list every item of income and payment; indicate only the largest ones.

When you ask a supplier to defer payment, be prepared to offer something in return. Think about the options in advance and consider whether they are interesting to the seller and whether they are beneficial to the organization. Collect data about the counterparty from open sources, study the situation on the market. When there is a drop in demand for a supplier’s product, offer him:

• Provide advertising to your clients, as a result of which the supplier will have new customers;
• Expand the selection of the entire assortment. This option needs to be discussed with merchants;
• Take mutual participation in promotions;
• Sign a contract for a long period.

When demand for a supplier's product is good, you can offer:

• Increase the purchase price within the deadline for increasing the deferred payment to the supplier. To understand how acceptable this is, prepare a financial flow forecast. In this forecast, indicate the delay you need and include an increase in the purchase price;
• Increase the volume and frequency of purchases. Use this method when the company plans to expand its own business or open new stores. Estimate what order volume will be optimal for you, or whether the cash gap will increase even more;
• Eliminate debts for paying for products.

If there is a need to notify suppliers of agreements with other sellers so that a deferred payment to the supplier can be granted, you can proceed as follows.

Suppose the organization sells a non-unique product, the supplier is not a monopolist - during negotiations, resort to talking about working with other suppliers. At its core, this method is blackmailing the supplier.

Before you begin negotiations to extend the deferment of payment from a supplier, you need to collect information about key suppliers with whom you do not have any contracts. Visit the websites of these companies, study price lists, and request commercial offers.

Check with these suppliers all the conditions - how the goods are paid for, how the goods are delivered, what discounts are possible (for example, volumetric and related to the frequency of purchases).

To form a portfolio of different sellers, display all received data in a table. Thanks to it, you can quickly switch to alternative suppliers if negotiations with the current one do not bring the result you need.

If you are refused a deferred payment for the supply of goods, say that your organization has other lucrative offers and you are ready to part ways. It is likely that this argument will cause this supplier to change his mind.

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How to write a letter to a supplier about increasing the deferred payment

Often, managers are forced to draw up a letter themselves to extend the deferred payment to the supplier. In these cases, you may find the following guide useful.

Step 1. Looking for ready-made forms

You need to check with your bank whether they have ready-made templates for letters with a reasoned request to change loan terms. If your bank already has ready-made forms, just take one and fill it out. You will need to enter the loan agreement number and full name, as well as indicate the name of the bank in the header of the document. After this, select an option or a couple of options for argumentation: a deferred payment to the supplier of credit funds may be assigned due to layoffs or layoffs, or a deterioration in the financial situation, or a decrease in income.

Step 2. Write the letter yourself

If your bank does not have such forms, write a letter yourself. It is drawn up for the chairman of the bank. In the header of the document you must write: “to: Chairman of the Board of the Bank.” After this, enter the name of the bank and the full name of the chairman. Then go to step 3.

Step 3. Add the necessary information

Then check who the letter is from. Like this: “from whom: Marina Alexandrovna Petrova.” These types of letters are usually written in free form. You can write something like this: “I, Marina Aleksandrovna Petrova, am a client of your bank... (here note how long you have been a client of this bank). Based on the loan agreement number ... I ask you, (full name of the chairman), to grant me a deferred payment for (the desired duration of the deferment). Due to the fact that...” Here write the reason why you need a deferred payment to the supplier, i.e. why you are unable to repay the loan on time. Then proceed to the next step.

Step 4. Information is verified

In the letter about deferred payment to the supplier, you must provide real information. Write what really is. For example, if you need to change your credit terms due to delays in salary payments or lack of a permanent job, write so. After that, go to step 5.

Step 5. Signature and other necessary formalities

Sign and decipher the signature, as well as today's date. Then comes the next step of the recommendation.

Step 6. Sending an email

Now the letter is ready! Take the document to the bank and be sure to have it endorsed by the secretary or administrator. And it’s better to send a letter with notification - then you will know for sure that the addressee has received the letter.