The Acknowledgement Letter For Partial Payment is a crucial document in Nigerian business and legal practice, used when a creditor receives a portion of an outstanding debt and needs to formally document this receipt. This document serves multiple purposes: it provides the debtor with official confirmation of their partial payment, protects the creditor's rights to the remaining balance, and creates a clear audit trail for accounting and legal purposes. Common in various commercial transactions, it must comply with Nigerian contract law, the Evidence Act, and where applicable, the Stamp Duties Act. The letter typically specifies the original debt amount, acknowledges the partial payment received, confirms the remaining balance, and may include terms for future payments. It's particularly important in situations where payment plans are restructured or when maintaining clear records of payment history is essential for legal or accounting purposes.

1. Letterhead and Date: Company letterhead (if applicable) and current date

2. Recipient Details: Full name and address of the debtor

3. Reference Line: Reference to original debt/invoice/agreement number and date

4. Subject Line: Clear indication that this is an acknowledgment of partial payment

5. Original Debt Details: Statement of the original debt amount and its nature

6. Payment Acknowledgment: Confirmation of the partial payment received, including amount and date

7. Outstanding Balance: Clear statement of the remaining balance after the partial payment

8. Signature Block: Creditor's signature, name, and designation