The Demand Letter For Payment Of Debt is a crucial document in Singapore's debt recovery process, typically used when informal attempts to collect payment have failed. It serves as a formal prerequisite to legal action, demonstrating reasonable attempts to resolve the matter before court proceedings. The document must comply with Singapore's debt collection guidelines and pre-action protocols, including specific requirements for content, tone, and delivery. It should clearly state the debt amount, origin, payment history, and provide reasonable time for response, while maintaining professional conduct as required by Singapore law.
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1. Recipient Details: Full name and address of the debtor, including any reference numbers
2. Debt Description: Clear statement of the amount owed, origin of the debt, and date the debt was incurred
3. Payment History: Summary of previous payment attempts or communications regarding the debt
4. Demand Statement: Formal demand for payment with specific amount and legal basis for the claim
5. Payment Terms: Specific deadline for payment and acceptable payment methods
6. Legal Consequences: Statement of potential legal action if payment is not received within the specified timeframe
1. Interest Calculation: Detailed breakdown of interest charges and calculation method when applicable per agreement
2. Settlement Offer: Terms for potential settlement or payment plan if the creditor is willing to negotiate
3. Previous Correspondence Reference: References to prior communication attempts and demands for payment
4. Without Prejudice Statement: Statement preserving legal rights when including settlement offers
1. Statement of Account: Detailed breakdown of the amount owed including principal, interest, and any additional charges
2. Original Agreement: Copy of the contract or agreement that gave rise to the debt
3. Payment Records: Documentation of any partial payments made and remaining balance
4. Previous Correspondence Log: Copies of relevant previous payment requests or communications with dates
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