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The Payment Received Agreement Letter is a crucial business document used in the Philippine jurisdiction to formally acknowledge the receipt of payments and provide legal documentation of financial transactions. This document is commonly used when there's a need to provide or maintain official records of payment receipt, whether for business transactions, service payments, or other financial obligations. The letter serves multiple purposes: it protects both the payor and payee by providing clear evidence of payment, helps maintain accurate financial records, and supports tax compliance requirements. The document typically includes specific details required under Philippine law, such as payment amount, date, method of payment, and any applicable tax considerations. It's particularly important in contexts where formal documentation is needed for accounting, audit, or legal purposes, and helps businesses comply with requirements under the Civil Code of the Philippines and the National Internal Revenue Code.

1. Letter Date and Reference Number: Current date and unique reference number for the letter

2. Recipient Details: Full name and address of the party who made the payment

3. Subject Line: Clear indication that this is a Payment Receipt Confirmation

4. Payment Details: Specific amount received, date of receipt, and method of payment

5. Purpose of Payment: Clear description of what the payment was for

6. Confirmation Statement: Formal acknowledgment of receiving the payment in full

7. Tax Details: Any relevant tax information or withholding tax applied

8. Closing Statement: Statement of completion and satisfaction of payment obligation

9. Signature Block: Name, title, and signature of the authorized representative confirming receipt