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The Promissory Note Demand Letter is a critical document used when a debtor has defaulted on their payment obligations under a promissory note in Hong Kong. It serves as a formal demand for payment and is often a prerequisite before initiating legal proceedings. The document must comply with Hong Kong's Bills of Exchange Ordinance (Cap. 19) and related regulations, which govern negotiable instruments and their enforcement. This letter typically follows any informal collection attempts and precedes more serious legal action. It should clearly reference the original promissory note, state the exact amount due (including principal, interest, and any applicable fees), provide payment instructions, and outline the consequences of continued non-payment. The document is particularly important as it creates a paper trail for legal purposes and demonstrates the creditor's reasonable attempts to collect the debt before pursuing court action.

1. Letter Header: Include sender's details, recipient's details, date, and reference number

2. Subject Line: Clear indication that this is a demand letter regarding a promissory note

3. Promissory Note Reference: Details of the original promissory note including date, principal amount, and parties involved

4. Default Statement: Clear statement of the default and reference to relevant terms of the promissory note

5. Demand Details: Specific amount demanded, including principal, interest, and any applicable fees

6. Payment Instructions: Clear payment deadline and acceptable payment methods

7. Legal Consequences: Statement of potential legal action if payment is not received

8. Closing: Formal closing, signature block, and contact information