FIA president Max Mosley has warned the members of the Formula One Teams' Association there is no compromise over Friday's D-Day.

Stung by withering criticisms made by the FIA over the previous two days, FOTA wrote to Mosley and F1 supremo Bernie Ecclestone calling for an end to the protracted dispute.

In putting forward a number of proposals, FOTA had also suggested extending the deadline for entries through to July 1. But the five teams yet to sign up unconditionally for next year's £40m budget cap - McLaren, Renault, Toyota, BMW Sauber and Brawn GP - have been told Friday is the last cut-off point.

In a letter by way of response from Mosley to the teams, a copy of which has been seen by PA Sport, the 69-year-old insists there is no time left for discussion.

As Mosley writes, that is because "we must answer the remaining applicants for 2010 no later than Friday".

A number of teams are waiting in the wings, although one of those in Lola has today confirmed they have withdrawn their application to compete next year.

The five teams concerned now have just 48 hours to either accept Mosley's final on-the-table offer or face the prospect of not competing in F1 from next year.

In their letter, FOTA felt compelled to make one last-ditch bid to resolve their feud with the FIA and bring peace to the sport due to the "increasingly negative publicity generated for Formula One".

"The time has come when, in the interests of the sport, we must all seek to compromise and bring an urgent conclusion to the protracted debate regarding the 2010 world championship," they added.

"We hope you will consider that this letter represents significant movement by the teams, all of whom have clearly stated a willingness to commit to the sport until the end of 2012.

"We would therefore strongly, but respectfully submit, you consider these proposals and seek to avoid the potential departure from Formula One of some important teams. "Now is the time to find a reasonable and rapid solution to the outstanding issues."