The complimentary closing, or close is a single word or a group of two or three words to bring the letter to a close. It is positioned just after the body of the letter. The spacing between the last line of the body text and the complimentary closing is two spaces.
The complimentary closing you choose depends a little bit on the relationship or familiarity of the writer with the recipient of the letter. "Best regards," "Regards," "Best wishes" and so forth are considered somewhat informal and personal, and therefore can be used for persons with whom you have a fairly close relationship. "Sincerely," Sincerely yours," and "Most sincerely," are friendly but a little less personal and are thus considered who are either unknown and unfamiliar to you.
A survey of several hundred cover letters received by a consulting firm revealed the following usage of various types of complimentary closings:
Complimentary closings usage in %
Sincerely, ---- 64%
Very truly yours,----14%
It should be noted here that these cover letters were sent to various recipients, to whom the writers were either unknown, or unfamiliar.
It appears that in employment cover letters, where you are unfamiliar with the addressee,it is safe to use complimentary closing like ‘Sincerely,’ or ‘Sincerely yours,’.
However, if you are on a fairly friendly terms with the addressee, you may use closings, such as, "Regards," "Best regards," and "Best wishes," and so forth.
It should be noted that the complimentary closing starts with a capital letter and ends with comma. See the following examples;
Very truly yours,