The Demand Letter Collection Of Sum Of Money is a formal business document used in Hong Kong's legal framework as a crucial step in the debt recovery process. It serves as an official written demand for payment of an outstanding debt, typically issued after previous informal attempts to collect payment have been unsuccessful. The document must comply with Hong Kong's legal requirements, including the Limitation Ordinance (Cap. 347) and relevant practice directions. It should clearly state the amount owed, basis of the debt, payment deadline, and potential legal consequences of non-payment. This document is particularly important as it often serves as evidence in subsequent legal proceedings and demonstrates the creditor's reasonable attempts to recover the debt before initiating court action.
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1. Letterhead and Date: Creditor's business details, including registered address and contact information, and the current date
2. Recipient Details: Debtor's full name and address, including any reference numbers
3. Subject Line: Clear identification of the letter as a formal demand for payment
4. Debt Details: Specific amount owed, origin of the debt, and date it was incurred
5. Payment History: Summary of any previous payments made and current outstanding balance
6. Legal Basis: Reference to the contract or basis for the debt
7. Formal Demand: Clear statement of the amount demanded and payment deadline
8. Payment Instructions: Specific details of how payment should be made
9. Legal Consequences: Statement of potential legal action if payment is not received
10. Closing: Professional closing and signature block
1. Previous Correspondence Reference: Include when there has been prior communication about the debt
2. Interest Calculation: Include when claiming interest on the outstanding amount
3. Payment Plan Option: Include when willing to accept payment in installments
4. Without Prejudice: Include when the letter contains settlement proposals
5. Dispute Resolution: Include when offering alternative dispute resolution options
1. Schedule A - Debt Calculation: Detailed breakdown of the principal amount, interest, and any penalties or fees
2. Schedule B - Payment History: Chronological list of all payments made and remaining balance
3. Schedule C - Supporting Documents: Copies of relevant invoices, contracts, or other evidence of debt
4. Schedule D - Interest Calculation: Detailed calculation of interest charges if applicable
Relevant legal definitions
Clauses
Debt Acknowledgment
Payment Demand
Interest Calculation
Payment Terms
Default Notice
Legal Authority
Time Limitation
Breach of Contract
Payment Instructions
Legal Consequences
Without Prejudice
Reservation of Rights
Dispute Resolution
Governing Law
Service of Notice
Settlement Terms
Compliance
Document Authentication
Payment Demand
Interest Calculation
Payment Terms
Default Notice
Legal Authority
Time Limitation
Breach of Contract
Payment Instructions
Legal Consequences
Without Prejudice
Reservation of Rights
Dispute Resolution
Governing Law
Service of Notice
Settlement Terms
Compliance
Document Authentication
Relevant Industries
Banking and Financial Services
Real Estate
Manufacturing
Retail
Professional Services
Construction
Technology
Healthcare
Education
Logistics and Transportation
Wholesale Trade
Legal Services
Insurance
Telecommunications
Relevant Teams
Legal
Finance
Accounts Receivable
Credit Control
Collections
Compliance
Risk Management
Treasury
Corporate Secretariat
Business Operations
Relevant Roles
Chief Financial Officer
Finance Manager
Accounts Receivable Manager
Credit Controller
Collections Specialist
Legal Counsel
Corporate Lawyer
Compliance Officer
Financial Controller
Credit Manager
Debt Recovery Officer
Business Development Manager
Company Secretary
Risk Manager
Treasury Manager
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