Dear

Enclosed is our payment in the amount of (amount)
which should clear up any balance in our account with
you.

We are very sorry that it has taken such a long time
to remit our payment to you and we hope that you will
understand that we have been experiencing some extremely
difficult cash flow problems. We are happy to inform
you, however, that we are now on the road to recovery
and anticipate a good year.

Thank you for your understanding and the courteousness
you have shown our company during this rough period.