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Notice Of Late Payment Letter

Notice Of Late Payment Letter Template for Singapore

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Notice Of Late Payment Letter

"I need to draft a Notice of Late Payment Letter to a Singapore-based client who has missed three consecutive monthly payments for software subscription services, totaling SGD 15,000, with the last payment due on March 15, 2025."

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The Notice of Late Payment Letter is a crucial document in Singapore's business ecosystem, used when payments become overdue and formal communication is required. This document serves as an official reminder and often precedes more serious debt collection actions. It must comply with Singapore's debt collection regulations, including the Guidelines on Fair Debt Collection Practices, and typically includes specific details about the outstanding amount, original due date, accumulated interest (if applicable), and payment instructions. The notice should maintain a professional tone while clearly communicating the urgency of the situation and potential consequences of non-payment.
Suggested Sections

1. Sender Details: Full company name, address, and contact information of the party sending the notice

2. Recipient Details: Full name, address, and account/reference number of the party receiving the notice

3. Date: Current date of notice and reference number if applicable

4. Payment Details: Original amount, due date, and number of days overdue

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

6. Payment Instructions: Specific instructions on how and where to make the payment

7. Response Timeline: Clear deadline for payment or response to this notice

Optional Sections

1. Late Payment Interest: Details of any applicable interest charges as per contract terms

2. Payment Plan Options: Available payment schedule options for settling the outstanding amount

3. Legal Consequences: Statement of potential legal actions if payment is not received within the specified timeline

Suggested Schedules

1. Original Invoice: Copy of the unpaid invoice(s) being referenced

2. Statement of Account: Detailed transaction history showing payment history and current outstanding amount

3. Payment History: Record of previous payments and communications regarding the outstanding amount

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










Industries

Contract Law of Singapore: Common law principles governing contract formation, enforcement, and remedies in Singapore

Limitation Act 1959: Establishes time limits for bringing legal actions on debts and other claims in Singapore

Late Payment Interest Regulations: Regulations governing the calculation and application of interest on late payments

Companies Act (Chapter 50): Primary legislation governing corporate entities in Singapore, including their obligations and rights in commercial transactions

Small Claims Tribunals Act: Legislation governing the process for small claims up to SGD 20,000, providing an alternative dispute resolution mechanism

Registration of Moneylenders Act: Regulates moneylending activities and debt collection practices in Singapore

Moneylenders Rules: Detailed rules and regulations governing moneylending practices and debt collection

Guidelines on Fair Debt Collection Practices: Guidelines issued by Credit Collection Association of Singapore establishing standards for fair debt collection

Consumer Protection (Fair Trading) Act: Protects consumers against unfair practices and establishes fair trading standards

Personal Data Protection Act 2012: Governs the collection, use, and disclosure of personal data in Singapore, including in debt collection processes

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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