Document background
A Late Notice is a crucial document in Austrian business operations, used when payments for goods or services have not been received by their due date. This document serves as a formal demand for payment and is an essential step in the debt collection process under Austrian law. The notice must comply with specific requirements of the Austrian Civil Code (ABGB) and Commercial Code (UGB), including proper identification of the parties, clear statement of the outstanding amount, and specification of a reasonable payment deadline. The Late Notice should include statutory interest calculations as permitted under Austrian law and the EU Late Payment Directive, and may also include recovery costs. It often serves as a prerequisite for any legal proceedings and can be used as evidence in court if payment disputes escalate to litigation.
