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Objectives or importance of business status inquiry letter Obtaining information about the financial capability of prospective customers. Determining the risk of credit sales. Deciding whether to enter into credit transactions. Getting information about honesty, goodwill and business morality of the probable buyer.
a request made to a bank, etc. asking whether a customer is likely to be able to pay back a loan or pay for something bought on credit: All 600 salespeople received laptops with email templates to automate status inquiries.
A letter that requests the referees to provide necessary information about the status of an applicant is termed as a status inquiry letter. When as applicant applies for a job, he is required to mention the name and address of some prominent people as a reference in his resume.
The letter should necessarily be polite and specific about the details sought. Come straight to the point and state what you want to know. If you want a quick response, say something nice about the organization or the product. In other words, make sure your letter of enquiry ends on a note of goodwill.
A status enquiry (also known as a banker's reference) gives third parties an indication of a person's or business's finances from their bank. A status enquiry request could be made for any number of reasons.

People also ask

Two such common types of enquiries in the world of business are credit and status enquiries. Drafting of such enquiry letters is indeed quite simple and such letters are considered to be routine letters. The main objective in writing such letters is to seek information.
An enquiry letter is written by a potential customer, on the look out for a product or with a desire to avail the service offered by a seller or an organization. An enquiry letter is neither a contract nor does it entail any contractual obligation between the two.
What is a bank reference? A bank reference is a letter or document issued by a bank confirming that an account holder has an account with it, and giving its opinion on the account holder's ability to meet a financial commitment.
A credit inquiry can be referred to as a request put up by a financial institution or firm for the credit report information of an individual or entity from a credit reporting bureau or agency. Credit enquiries can be of two types - soft inquiries and hard inquiries.
Objectives or importance of business status inquiry letter Obtaining information about the financial capability of prospective customers. Determining the risk of credit sales. Deciding whether to enter into credit transactions. Getting information about honesty, goodwill and business morality of the probable buyer.

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