Demand to Pay Promissory Note

{{company_name}}

{{company_address}}

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

Demand to Pay Promissory Note

Demand to Pay Promissory Note

{{company_name}} {{company_address}} Tel: {{phone}} Email: {{email}} Website: {{website}}

DEMAND TO PAY PROMISSORY NOTE

Date: {{date}}

To:

{{borrower_name}}

{{borrower_address}}

From:

{{lender_name}}

{{lender_address}}

Subject: Demand for Payment of Promissory Note

Dear {{borrower_name}},

This letter serves as a formal demand for payment of the outstanding balance on the Promissory Note dated {{note_date}}, in the principal amount of {{principal_amount}} (the 'Note'). A copy of the said Promissory Note is attached hereto for your reference.

According to our records, the Note matured on {{maturity_date}}, or you are currently in default of the terms and conditions outlined in the Note, specifically relating to {{reason_for_default}}.

The total amount currently due and payable under the Note is as follows:

Principal Amount Due: {{outstanding_principal_amount}}

Accrued Interest to Date (as at {{date}}): {{accrued_interest_amount}}

Late Fees/Penalties: {{late_fees_amount}}

**TOTAL AMOUNT DUE: {{total_amount_due}}**

Demand for Payment

We hereby demand immediate payment of the **TOTAL AMOUNT DUE** of **{{total_amount_due}}**.

Payment must be received by {{payment_deadline_date}}.

Please remit payment via {{payment_method}} to {{payment_details}}. Should you fail to make payment by the deadline, further interest, as stipulated in the Promissory Note, will continue to accrue on the outstanding balance, and we will be forced to pursue all available legal remedies to collect the debt without further notice. This may include, but is not limited to, instituting legal proceedings, reporting to credit bureaux, and seeking recovery of all legal costs incurred.

Contact Information

Should you have any questions or wish to discuss a payment arrangement, please contact {{contact_person}} at {{contact_phone}} or {{contact_email}} immediately. Your prompt attention to this matter is appreciated.

Sincerely,

{{lender_name}}

_________________________

Authorised Signature

{{signer_name}}

{{signer_title}}