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Notice Of Late Payment

Notice Of Late Payment Template for New Zealand

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Key Requirements PROMPT example:

Notice Of Late Payment

"I need a Notice of Late Payment for my construction company to send to a client who has failed to pay three invoices totaling NZD 45,000 that were due on March 15, 2025, with this being our second reminder after verbal requests."

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Document background
The Notice of Late Payment is a crucial business document used in New Zealand when payment obligations have not been met according to agreed terms. This document serves as a formal communication between creditor and debtor, typically issued after an invoice's due date has passed without receiving payment. It must comply with New Zealand legislation, including the Credit Contracts and Consumer Finance Act 2003 and the Fair Trading Act 1986. The notice should clearly state the outstanding amount, provide payment details, and outline consequences of non-payment. It often serves as a prerequisite for any legal action and can be used as evidence in debt collection proceedings. The document should maintain a professional tone while firmly conveying the seriousness of the situation and the creditor's intention to pursue payment.
Suggested Sections

1. Sender Details: Full legal name, business name (if applicable), and contact information of the creditor

2. Recipient Details: Full legal name, business name (if applicable), and address of the debtor

3. Date: Current date of the notice

4. Reference Number: Invoice or account reference numbers relevant to the debt

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

6. Payment Details: Original due date, current status, and acceptable payment methods

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

8. Consequences: Brief explanation of what will happen if payment is not received by the specified date

Optional Sections

1. Payment History: Summary of previous payments and communications, used when there is a complex payment history

2. Interest Calculation: Detailed breakdown of how interest and late fees have been calculated, used when additional charges have been added

3. Payment Plan Options: Proposed payment arrangement options, used when the creditor is willing to accept installment payments

4. Previous Notices: Reference to previous payment requests or notices, used when this is not the first notice

5. Dispute Resolution: Information about how to dispute the debt, used when required by specific industry regulations

Suggested Schedules

1. Schedule A - Payment History: Detailed list of all relevant invoices, payments, and balance calculations

2. Schedule B - Interest Calculations: Detailed breakdown of interest charges and late payment fees

3. Schedule C - Supporting Documentation: Copies of relevant invoices, contracts, or previous correspondence

4. Schedule D - Payment Plan Details: If offered, detailed terms and conditions of proposed payment arrangements

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

Professional Services

Construction

Real Estate

Technology

Healthcare

Education

Wholesale Trade

Transportation

Financial Services

Agriculture

Hospitality

Consulting

Relevant Teams

Finance

Accounts Receivable

Legal

Credit Control

Collections

Customer Service

Operations

Administration

Treasury

Risk Management

Relevant Roles

Accounts Receivable Manager

Credit Controller

Financial Manager

Chief Financial Officer

Accounts Manager

Collection Specialist

Business Owner

Finance Director

Credit Manager

Billing Coordinator

Commercial Manager

Account Executive

Financial Controller

Operations Manager

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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