Dear Rental Service Agency,

Greetings!

We are a company specializing in plumbing,, electrical, heating, and cooling installation and repair. We are writing to you with the utmost respect. Our cooperative relationship has always been built on mutual trust and cooperation. However, recent payment delays have left us feeling confused and troubled.

We understand that as an intermediary, you play a crucial role in connecting landlords with tenants and repair companies. There are times when landlords may deliberately cause trouble, leading to payment delays. However, every payment delay poses a significant operational challenge for our repair company. Employee salaries, material procurement, and the day-to-day operations of the company all rely on a stable cash flow.

In this context, we wish to emphasize the impact of capital costs on pricing. According to capital cost theory, when formulating pricing strategies, companies need to consider their capital costs, including debt costs and the returns expected by shareholders. Every payment delay increases our capital costs, which in turn affects our ability to set reasonable prices.

To illustrate this point, here are some data and mathematical models we use in our pricing process:

WACC Calculation Formula: (Based on a 30-day payment waiting period) Our current Weighted Average Cost of Capital (WACC) is 9.5%. This figure is derived from our current debt costs and the expected returns of our shareholders. The formula is:

WACC=(EV)×Re+(DV)×Rd×(1−Tc)

Where, E is the total equity, V is the total value of the company, Re is the cost of equity, D is the total debt, Rd is the cost of debt (calculated based on a 30-day payment waiting period), and Tc is the tax rate. Based on a 15-day payment waiting period, our WACC is 5%. Our company does not accept payment periods exceeding 30 days. Payments made within 24 hours have a WACC of 0.

Pricing Model: (Based on a 30-day payment waiting period) Based on capital costs and expected profit rates, we have formulated the following pricing model:

Final Price=Initial Price+(Cost×WACC) / (1−WACC)

Assuming our repair pricing is $1000, the final price calculated through the model is:

1000 +(1000×0.095)/(1−0.095)=1000+104.97=1104.97

(Based on a 15-day payment waiting period, the final price would be $1052.63)

These data and models illustrate how we formulate reasonable pricing strategies based on capital costs and expected profit rates. Payment delays increase our capital costs, which may necessitate raising our service prices to accommodate the increased costs.

We believe that you are not intentionally delaying payments and understand that in the current complex market environment, everyone faces different pressures and challenges. Therefore, we are willing to maintain communication and hope to negotiate a mutually acceptable solution through friendly dialogue to ensure that our cooperative relationship continues to develop healthily. If you require a payment waiting period of 15 or 30 days in future collaborations, please specify this when we quote, and we will increase our prices according to company policy to account for hidden and explicit cost increases.

We sincerely hope that you understand our position and can handle payment matters more promptly in future collaborations. After all, both parties' success is interdependent, and only on the basis of trust and cooperation can we progress together.

Thank you for taking the time to read this letter. We look forward to continuing our cooperation and jointly facing future challenges, achieving long-term goals for both parties.

Yours faithfully,

P&E Company Finance Department

尊敬的租房服务中介公司：

您们好！

我们作为一家水、电、冷、暖安装维修公司，冒昧地写下这封信给您。我们的合作关系一直是建立在相互信任和合作的基础上。然而，最近的一些付款延误让我们感到困惑和困扰。

我们深知，作为中介公司，您在连接房东与租客之间，房东与维修公司之间扮演着重要的角色，有时也会遇到房东故意刁难的情况，导致付款延误。但每一次的付款延迟，对于我们维修公司而言，都是一次运营上的挑战。员工的薪资、材料的采购、公司的日常运营，这些都需要稳定的现金流来支持。

在这个过程中，我们希望特别强调资金成本对定价的影响。根据资本成本理论，企业在制定定价策略时，需要考虑其资本成本，包括债务成本和股东所期望的回报。每一次的付款延迟都增加了我们的资本成本，从而影响到我们制定合理定价的能力。

为了具体说明这一点，以下是我们在定价过程中使用的一些数据和数学模型：

资金成本 (WACC) 计算公式：(按30天的支付等待周期来计算)我们公司当前的加权平均资本成本（WACC）为9.5%。这个数据是基于我们目前的债务成本和股东所期望的回报率计算得出的。公式为： WACC = (E/V) * Re + (D/V) * Rd * (1 - Tc) 其中，E为股权总额，V为企业总价值，Re为股权成本，D为债务总额，Rd为债务成本(按30天的支付等待周期来计算)，Tc为税率。按15天的支付等待周期来计算的话，我们公司WACC为 5% . 我公司暂不接受30天以上的付款周期。付款在24小时以内的WACC为0.

定价模型：(按30天的支付等待周期来计算)基于资金成本和预期利润率，我们制定了以下定价模型： 最终定价 = 最初定价 + (Cost * WACC) / (1 - WACC) 假设我们的维修定价为$1000，通过模型计算得出最终定价为： 1000 + (1000 * 0.095) / (1 - 0.095) = 1000 + 104.97 = 1104.97 (15天的支付等待周期则得出最终定价为1052.63)

这些数据和模型说明了我们如何基于资金成本和预期利润率制定合理的定价策略。付款的延误增加了我们的资金成本，可能导致我们不得不提高服务价格以应对资金成本的增加。

我们相信，您并非故意拖延付款，也理解在当前复杂的市场环境下，每一方都面临着不同的压力与挑战。因此，我们愿意继续保持沟通，希望通过友好的对话，协商出一种双方都能接受的解决方案，以确保我们的合作关系能够持续健康地发展。如果在未来的合作中，您需要有15天或者30天的支付等待周期，请您在我们报价的时候明确提出来，我们会根据公司政策提高报价，以应对隐性和显性的成本增加。

我们真诚地希望您能理解我们的立场，并在今后的合作中，能更加及时地处理支付事宜。毕竟，双方的成功是相互依存的，只有在信任与合作的基础上，我们才能共同进步。

感谢您抽出宝贵的时间阅读此信。我们期待着与您继续合作，共同应对未来的挑战，实现双方的长远目标。

此致，

敬礼

P&E 公司财务部