Demand to Pay Promissory Note

Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Date

{{date}}

Recipient Information

Attn: {{debtor_name}}

{{debtor_address}}

Subject: Demand for Payment of Promissory Note – Account No. {{account_number}}

Dear {{debtor_name}},

This letter serves as a formal demand for payment of the outstanding balance on the Promissory Note (hereinafter referred to as 'the Note') dated {{promissory_note_date}}, executed by you, {{debtor_name}}, as the Borrower, in favour of {{lender_name}} (hereinafter referred to as 'the Lender').

Details of the Promissory Note

The original principal amount of the Note was {{original_amount}}. The terms of the Note stipulated a repayment schedule and an interest rate of {{interest_rate}}% per annum. A copy of the original Promissory Note is attached hereto for your reference.

Amount Due

As of the date of this letter, the total outstanding amount due and payable under the terms of the Promissory Note is as follows:

Original Principal Amount: {{original_amount}}

Accrued Interest to Date: {{accrued_interest_amount}}

Late Payment Fees (if applicable): {{late_fees_amount}}

Other Charges (specify): {{other_charges_amount}}

------------------------------------

TOTAL AMOUNT DUE: {{total_amount_due}}

Payment Deadline and Consequences of Non-Payment

You are hereby required to remit the full outstanding amount of {{total_amount_due}} within {{number_of_days}} ({{number_of_days_words}}) days from the date of this letter. Payment should be made to {{lender_bank_name}}, Account Number: {{lender_bank_account_number}}, Branch Code: {{lender_bank_branch_code}}.

Failure to make full payment by the stipulated deadline will result in further legal action being taken against you without further notice. Such actions may include, but are not limited to, instituting legal proceedings to recover the debt, enforcement of any security held, and reporting to credit bureaus, which may negatively impact your credit rating.

Contact Information

Should you have any queries regarding this demand or wish to discuss a payment arrangement, please contact {{contact_person}} at {{contact_phone_number}} or {{contact_email_address}} within {{response_days}} days of the date of this letter.

Reservation of Rights

All rights of the Lender, whether under the Promissory Note, at law, or in equity, are hereby expressly reserved. This demand does not constitute a waiver of any such rights.

Sincerely,

{{lender_name}}

{{lender_representative_name}}

{{lender_representative_title}}

Signature Block

_____________________________

Signature of Lender/Authorized Representative

Date: _______________________