The Notice of Late Payment is a crucial business document used when payment obligations under a contract or invoice remain unfulfilled beyond the agreed due date. This document is particularly important in the Malaysian business environment, where it serves multiple purposes: it formally documents the payment default, demands settlement, and establishes a paper trail for potential legal proceedings. The notice must comply with Malaysian legal requirements and typically includes specific details about the debt, payment history, and consequences of continued non-payment. It is often used as a final formal communication before initiating legal action and can be critical evidence in debt recovery proceedings. The document should be drafted carefully to ensure it meets all requirements under Malaysian law, including the Contracts Act 1950 and relevant commercial regulations.
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1. Sender Details: Full company/individual name, address, and contact information of the party sending the notice
2. Date: The date when the notice is issued
3. Recipient Details: Full company/individual name, address, and contact information of the debtor
4. Reference Line: Clear reference to 'Notice of Late Payment' and any relevant account or invoice numbers
5. Outstanding Payment Details: Specific details of the overdue amount, original due date, and any accrued interest
6. Payment History: Brief summary of previous payment communications and attempts
7. Demand for Payment: Clear statement of the total amount due and deadline for payment
8. Payment Instructions: Detailed information on how payment should be made
9. Closing: Professional closing with contact information for payment-related queries
1. Legal Consequences: Include when you want to specify potential legal actions that may be taken if payment is not received
2. Interest Calculation: Include when charging interest on the overdue amount, showing detailed calculation
3. Payment Plan Option: Include when willing to offer or discuss payment plan alternatives
4. Previous Correspondence Reference: Include when this is a follow-up notice, referencing previous communications
5. Statement of Account: Include when there are multiple outstanding invoices or complex payment history
1. Schedule A - Invoice Details: Copies or details of all relevant unpaid invoices
2. Schedule B - Payment History: Detailed record of all relevant transactions and payment attempts
3. Schedule C - Interest Calculations: Detailed breakdown of interest calculations if applicable
4. Appendix 1 - Supporting Documentation: Copies of relevant contracts, purchase orders, or delivery confirmations
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