Document background
The Late Fee Waiver Application serves as a formal mechanism for requesting relief from late payment penalties in India. This document is typically used when a customer or client has incurred late fees due to exceptional circumstances such as technical issues, financial hardship, medical emergencies, or other valid reasons. The application should be drafted in compliance with Indian contract law principles and consumer protection regulations, particularly the Consumer Protection Act, 2019, and relevant RBI guidelines when dealing with financial institutions. The document needs to include comprehensive details about the account, payment history, specific circumstances leading to the late payment, and supporting evidence. It's commonly used across various sectors including banking, utilities, education, and insurance, where late payment penalties are standard practice.
