Demand for Payment on Guarantees

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Demand for Payment on Guarantees

Demand for Payment on Guarantees

{{company_name}}

{{company_address}}

Tel: {{phone}}

Email: {{email}}

Website: {{website}}

Date: {{date}}

Our Ref: {{reference_number}}

To:

{{guarantor_name}}

{{guarantor_address}}

Subject: DEMAND FOR PAYMENT UNDER GUARANTEE AGREEMENT DATED {{guarantee_agreement_date}}

Dear Sir/Madam,

We refer to the Guarantee Agreement (hereinafter referred to as 'the Guarantee') dated {{guarantee_agreement_date}} executed by yourselves (hereinafter referred to as 'the Guarantor') in favour of {{company_name}} (hereinafter referred to as 'the Beneficiary') for obligations of {{principal_debtor_name}} (hereinafter referred to as 'the Principal Debtor').

Under the terms of the Guarantee, you irrevocably and unconditionally guaranteed the due and punctual payment by the Principal Debtor of all monies, obligations, and liabilities owing to the Beneficiary.

We hereby notify you that the Principal Debtor has defaulted on its obligations and liabilities to the Beneficiary in the amount of {{currency}} {{amount_due}} as of {{default_date}}.

Pursuant to clause {{relevant_clause_number}} of the Guarantee, we hereby demand payment of the full outstanding amount of {{currency}} {{amount_due}} within {{number_of_days}} days from the date of this letter.

Payment Instructions:

Payment should be made by bank transfer to the following account:

Bank Name: {{bank_name}}

Account Name: {{company_name}}

Account Number: {{account_number}}

Swift Code: {{swift_code}}

Cession/Assignment (if applicable):

Please note that all rights and claims against the Principal Debtor have been ceded/assigned to the Beneficiary by virtue of the Guarantee Agreement. Should you make payment under this Guarantee, you may rely on your rights of subrogation as outlined in the Guarantee Agreement and applicable law.

Legal Action:

Should payment not be received within the stipulated period, we reserve the right to institute legal proceedings against you to recover the outstanding amount, without further notice, and to claim all legal costs and interest incurred.

Contact Us:

For any queries or to discuss this matter, please contact {{contact_person}} at {{contact_phone}} or {{contact_email}}.

Yours faithfully,

________________________

For and on behalf of {{company_name}}

Name: {{sender_name}}

Title: {{sender_title}}