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Notice Of Debt Recovery

Notice Of Debt Recovery Template for United Arab Emirates

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Key Requirements PROMPT example:

Notice Of Debt Recovery

"I need a Notice of Debt Recovery for my UAE-based construction company to recover AED 750,000 from a commercial client who has defaulted on three consecutive payments, with the latest payment due on March 15, 2025."

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Document background
The Notice of Debt Recovery is a critical document in the UAE's debt collection process, utilized when formal demands for payment need to be made to debtors who have defaulted on their financial obligations. This notice serves as an essential step before initiating legal proceedings and must comply with UAE Federal Law No. 18 of 1993 (Commercial Transactions Law) and UAE Federal Law No. 5 of 1985 (Civil Transactions Law). The document should be issued after informal collection attempts have been exhausted but before legal action is taken. It typically includes comprehensive details about the debt, payment history, and clear payment instructions, while maintaining professional tone and avoiding any aggressive collection tactics that could violate UAE Central Bank guidelines. The notice must be prepared in both Arabic and English, reflecting the UAE's legal requirements for official documents.
Suggested Sections

1. Sender Details: Full legal name, address, and contact information of the creditor or collecting entity

2. Date and Reference: Current date and unique reference number for the debt recovery notice

3. Recipient Details: Full legal name and address of the debtor, including any relevant account or reference numbers

4. Subject Line: Clear indication that this is a formal debt recovery notice

5. Debt Details: Precise amount owed, original due date, and breakdown of the debt components (principal, interest if applicable, charges)

6. Payment History: Brief summary of previous payment attempts and communications

7. Legal Basis: Reference to relevant contract or obligation creating the debt

8. Payment Demand: Clear statement of amount demanded and payment deadline

9. Payment Instructions: Detailed information on how payment should be made

10. Legal Consequences: Statement of potential legal actions if payment is not received

Optional Sections

1. Settlement Offer: Include when offering a settlement or payment plan option

2. Previous Correspondence Reference: Include when there have been previous formal notices or correspondence

3. Security Details: Include when the debt is secured against specific assets

4. Third Party Authorization: Include when the notice is sent by a debt collection agency or lawyer on behalf of the creditor

5. Dispute Resolution Process: Include when offering or requiring specific dispute resolution procedures

6. Sharia Compliance Statement: Include when dealing with Islamic banking products or when relevant to the debt structure

Suggested Schedules

1. Statement of Account: Detailed breakdown of the debt, including transaction history

2. Original Contract Extract: Relevant excerpts from the original agreement creating the debt

3. Payment History Schedule: Detailed record of all payments made and missed payments

4. Interest Calculation Schedule: Breakdown of how any interest or charges have been calculated

5. Supporting Documents: Copies of relevant invoices, bounced checks, or other proof of debt

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions






























Clauses




















Relevant Industries

Banking & Financial Services

Real Estate

Commercial Trading

Manufacturing

Retail

Construction

Professional Services

Healthcare

Education

Telecommunications

Hospitality

Import/Export

Small and Medium Enterprises

Insurance

Relevant Teams

Legal

Finance

Credit Control

Collections

Accounts Receivable

Risk Management

Treasury

Compliance

Corporate Affairs

Debt Recovery

Relevant Roles

Credit Manager

Financial Controller

Collections Officer

Legal Counsel

Accounts Receivable Manager

Risk Management Officer

Corporate Lawyer

Debt Recovery Specialist

Finance Director

Compliance Officer

Chief Financial Officer

Credit Control Supervisor

Treasury Manager

Legal Operations Manager

Collections Team Leader

Industries







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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