Date: __/__/____ (Date)
____________ (Your Company),
Subject: Response in reference to proposal _________ (proposal details)
I am writing this letter to inform you that I am ________ (Name) and I am writing this letter on behalf of M/s _________ (Name Of Company).
With reference to the proposal received from your side having __________ (reference number/acknowledgment number – if any) no. __________ (reference number/acknowledgement number) on __/__/____ (Date). I regret to inform you that the proposal is not accepted due to reason ____________ (not economically favorable/ terms and conditions not matched/ criteria not fulfilled/ didn’t reach expectations/any other).
We appreciate the interest you have shown and we wish to have a good business with you in the coming time.
Yours Truly/ Thankfully,
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