The Demand Letter For Money Owed is a critical document in Belgian debt collection practices, serving as a formal prerequisite before initiating legal proceedings. It is used when informal attempts to collect payment have failed and the creditor needs to escalate the matter. The document must comply with Belgian Civil Code requirements and the Law of 2 August 2002 on Late Payments in Commercial Transactions, as well as relevant EU directives. It typically includes detailed information about the debt, calculation of interest according to Belgian statutory rates, and a formal payment deadline. This type of demand letter is particularly important in Belgian jurisdiction as it establishes a formal record of the collection attempt and can significantly strengthen the creditor's position in subsequent legal proceedings. The document can be used in both business-to-business and business-to-consumer contexts, though the specific requirements and tone may vary depending on the relationship between the parties.
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1. Sender's Details: Full legal name, address, and contact information of the creditor
2. Date: Current date formatted according to Belgian standards
3. Recipient's Details: Full legal name and address of the debtor
4. Subject Line: Clear indication that this is a formal demand for payment (Mise en demeure/Ingebrekestelling)
5. Debt Description: Detailed description of the outstanding debt, including original amount, date incurred, and current balance
6. Legal Basis: Reference to the underlying agreement or basis for the debt
7. Payment History: Summary of any previous payments made and previous attempts to collect
8. Interest and Penalties: Calculation of applicable interest and late payment penalties under Belgian law
9. Payment Demand: Clear statement of the total amount demanded and payment deadline
10. Payment Instructions: Detailed banking information and acceptable payment methods
11. Legal Consequences: Statement of legal actions that will be taken if payment is not received by the deadline
1. Previous Correspondence: Reference to previous payment requests or communications, used when there has been prior documented communication
2. Payment Plan Option: Proposed payment plan terms, included when the creditor is willing to accept installment payments
3. Professional Credentials: If sent by a lawyer or licensed debt collector, including professional registration details
4. Mediation Offer: Proposal for mediation or alternative dispute resolution, included when seeking an amicable resolution
5. Currency Exchange: If the debt involves multiple currencies, including exchange rate calculations and specifications
1. Statement of Account: Detailed breakdown of the debt, including original amount, interest, penalties, and any payments received
2. Copy of Original Agreement: Copy of the contract or agreement that gave rise to the debt
3. Payment History Log: Chronological record of all payments and payment attempts
4. Interest Calculation Sheet: Detailed calculation of interest and late payment penalties according to Belgian law
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Legal Services
Retail
Manufacturing
Construction
Professional Services
Healthcare
Real Estate
Technology
Transportation and Logistics
Education
Wholesale Trade
Hospitality
Consulting Services
Relevant Teams
Legal
Finance
Accounts Receivable
Credit Control
Treasury
Compliance
Risk Management
Collections
Corporate Affairs
Administrative
Relevant Roles
Credit Controller
Accounts Receivable Manager
Financial Manager
Legal Counsel
Collections Specialist
Finance Director
Account Manager
Business Owner
Corporate Lawyer
Debt Recovery Officer
Financial Controller
Treasury Manager
Credit Risk Manager
Compliance Officer
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