Name – Prabhjot Singh

Student ID number -4529793

Prof. name – Mr. Sayed Karim
Subject – Business communications

Noreen,

Collections manager,

Petro-Go’s

53, Crawford Drive

Brampton

Subject- Awareness regarding interest rate

Dear customer,

I hope this letter finds you well. Hopefully, you are enjoying with our services. I want to inform
you an important update in terms of your account through this letter.

It is my responsibility to inform you of any changes that may affect your financial transactions
with Petro-Go. I regret to inform you that the interest rate on overdue debts will be changed for
30 days from the date of this letter. The interest rate will increase from the current 14 percent
to 15 percent. This update is part of our ongoing efforts to maintain the financial stability of the
business and ensure the longevity of the services we provide.

We're happy to help mitigate the impact of these changes by providing some possible solutions
to help you avoid late fees. First, we recommend setting up electronic payments, which will
guarantee fast payment and eliminate additional fees. You may want to evaluate whether your
payment plan fits your budget.

To help you understand what this change means, we have provided an overview of interest
calculation at the back of this post. This section tells you about the additional costs associated
with interest rate changes and how your bonus is affected.

We realize that sometimes unexpected events happen, and it can be difficult to follow a
payment plan. If you are having problems making your monthly payments, we recommend that
you contact our customer service department. To ensure you continue to have a great
experience with Petro-Go, our dedicated staff is here to assist you and explore solutions.

We appreciate your continued cooperation with Petro-Go and your understanding of this
situation.

Thank you for taking the time to consider this important matter and we look forward to
continuing to work with you.

Sincere greetings,

Noreen