Bank one time settlement (O T S)

Vikas (Querist) 28 August 2015 This query is : Resolved
How to draft a one time settlement letter for bank

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R.K Nanda (Expert) 29 August 2015
ask from bank.

RAJU O.F., (Expert) 31 August 2015
No hard and fast rule for OTS letter. You write in the top of the letter the words "WITHOUT PREJUDICE" which will take care of pleading as your admission of the debt. You offer in simple language, what is the amount meant for settlement of the dues. If bank agree for that amount or if necessary after further negotiations an amount in agreement with bank has to be paid to fulle settlement of the dues.

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