Late Payment Demand Notice
Protect your business cash flow by sending a formal demand for overdue invoice payments.
RE: FORMAL DEMAND FOR PAYMENT - Overdue Invoice #[Invoice Number]
Dear [Debtor Name/Accounts Payable],
This letter serves as a formal demand for payment regarding the outstanding balance for invoice(s) #[Invoice Number], which was due on [Due Date].
As of today, the total amount of $[Amount] remains unpaid despite previous reminders. Under our agreed terms and local commercial laws (e.g., Late Payment of Commercial Debts Act), we are entitled to charge interest on the overdue amount.
Please be advised that if the full payment of $[Amount] is not received within [Number, e.g., 7] days from the date of this letter, we will take the following steps:
- Interest & Penalties: Apply statutory late payment interest and compensation fees.
- Legal Action: Hand this matter over to a debt collection agency or initiate court proceedings to recover the debt.
Please remit the payment immediately to the account details provided in the original invoice. If you have already sent the payment, please disregard this notice.
Sincerely, [Your Name/Company Name]