A pay order letter is written by a company to a bank, in which the company requests the bank to make pay orders for them for their different clients. It is like an instrument, in which the company pays the bank and the bank, in turn, pays the client.
While running a business, an organization may have to make many transactions and financial payments. The payments can be made through different modes, such as cash, cheques, bank transfers, pay orders, etc. A pay order is a document, prepared by the bank, that entitles the payee to the mentioned amount, which can be cleared within the city from the branch of the bank that has initially issued it. A pay order is used for many reasons, such as:
If a company decides to choose the pay order payment instrument, it provides the cash or requests the bank to use the money from its account with the bank. A slight fee is charged by the bank for making each pay order.
The company provides the details of the required pay orders and the banks prepare the documents which can be given to the clients by the company as a payment of their products or services.
For writing such letters, there are templates available online as well as in programs, such as Microsoft Word. The company can write the letter itself without using a template, as well. However, the templates are easy to use and customize as well as the time and effort get saved. The general details included in the pay order letters are:
I am writing this letter on behalf of ABC Corporation to request you for a pay order.
We have a small vendor that provides our raw materials and we have to make the payment through a pay order. Following are the details:
Name: XYZ Limited.
I am attaching other relevant details with this letter. Kindly, prepare the pay order and deliver it to us by 11 th July 2019, as we have to make the payment on 12 th July 20XX.
Let me know if you need any other information. You can contact me at [contact].
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