If it is formal, it should begin with a polite salutation. If you don't know the recipient's name, call them Sir or Madam, but if you know their name, always use it (beginning with Mr. for men and Ms. for women). It should be brief, clear and to the point. End with Yours sincerely if you know the recipient's name, or Yours faithfully if you don't. Some people end theirs with Yours truly. Only use Best wishes at the end if it is informal.
What is the speaker talking about?