A Payment in Full and Final Settlement Letter is a formal document used when a debtor (person or business who owes money) offers a partial payment to a creditor (person or business owed the money) with the condition that the payment will be considered as full and final—meaning no further amount will be owed, and the matter is resolved. It is a business letter and needs special attention so that no mistakes are made. The letter consists of figures and numbers that need to be written accurately so that no…
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