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Late Payment Reminder Letter

Late Payment Reminder Letter Template for Malaysia

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Key Requirements PROMPT example:

Late Payment Reminder Letter

"I need a Late Payment Reminder Letter for my construction company based in Kuala Lumpur, addressing an overdue payment of RM 75,000 from a long-term client who has missed two payment deadlines, with the final deadline set for March 15, 2025."

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Document background
The Late Payment Reminder Letter is an essential business document used when payment for goods or services remains outstanding beyond the agreed terms. Under Malaysian law, particularly the Contracts Act 1950 and Financial Services Act 2013, such formal written communications serve as important evidence of debt collection efforts and can be crucial in legal proceedings. The document should be issued when payment becomes overdue, typically after the standard payment terms have expired. It should clearly state the outstanding amount, reference original invoices, specify payment methods, and include any applicable late payment charges as permitted under Malaysian legislation. The letter needs to balance maintaining professional relationships while ensuring legal compliance and protecting the creditor's interests.
Suggested Sections

1. Sender Details: Full business name, address, and contact information of the creditor

2. Date: Current date of the letter

3. Recipient Details: Full name, address, and reference number (if any) of the debtor

4. Subject Line: Clear indication that this is a late payment reminder with reference numbers

5. Outstanding Amount: Clear statement of the total amount due, including any applicable late fees or interest

6. Payment Details: Original invoice details, due date, and period overdue

7. Action Required: Clear statement of what action is required and by when

8. Payment Instructions: Banking details and acceptable payment methods

Optional Sections

1. Previous Communications: Reference to any previous reminders or communications, used when this is not the first reminder

2. Late Payment Interest: Details of any interest charges being applied, included when charging interest on the overdue amount

3. Legal Consequences: Warning about potential legal action, included in final reminders or for significantly overdue amounts

4. Payment Plan Option: Offer of a payment plan or installment option, included when willing to negotiate terms

5. Impact on Business Relationship: Statement about the importance of maintaining good business relations, used for valuable long-term clients

Suggested Schedules

1. Payment History Schedule: Detailed breakdown of payment history including all relevant invoices and partial payments

2. Interest Calculation Schedule: Breakdown of how any late payment interest has been calculated

3. Copy of Original Invoice: Attachment of the original invoice(s) being referenced

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

Retail

Manufacturing

Construction

Professional Services

Financial Services

Healthcare

Technology

Real Estate

Wholesale Trade

Education

Telecommunications

Logistics and Transportation

Relevant Teams

Finance

Accounts Receivable

Legal

Credit Control

Treasury

Customer Relations

Collections

Administration

Relevant Roles

Accounts Receivable Manager

Credit Controller

Financial Controller

Finance Manager

Accounting Manager

Collections Specialist

Business Owner

Chief Financial Officer

Account Manager

Credit Risk Manager

Treasury Manager

Financial Analyst

Legal Counsel

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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