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Demand Letter For Payment Of Debt

Demand Letter For Payment Of Debt Template for Singapore

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Demand Letter For Payment Of Debt

"I need a Demand Letter For Payment Of Debt to recover SGD 50,000 from a corporate client who has failed to pay for consulting services delivered in January 2025, with the letter to include details of three previous payment reminders and applicable late payment interest."

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Document background
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.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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alex.den.21@genieai.co
Industries

Limitation Act 1959: Governs time limits for debt recovery (6 years for most contractual debts), starting point of limitation period, and circumstances affecting the limitation period

Singapore Contract Act: Covers contract validity, payment obligations, and provisions regarding default and breach of contract

Moneylenders Act: Regulates licensed moneylenders, including regulations on interest rates and debt collection practices

Consumer Protection (Fair Trading) Act: Governs consumer transactions and establishes fair trading requirements for debt collection

Personal Data Protection Act 2012: Regulates the handling of personal information and privacy considerations in debt collection communications

Rules of Court 2021: Establishes pre-action protocols and requirements for potential legal proceedings in debt recovery

Companies Act: Relevant when dealing with corporate debtors and contains corporate insolvency provisions

Insolvency, Restructuring and Dissolution Act 2018: Covers scenarios involving debtor insolvency and bankruptcy considerations in debt recovery

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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