The Final Request For Payment Letter is a crucial document in Nigerian business operations, representing the last formal attempt to recover a debt before pursuing legal action. It is typically used when previous payment requests have been unsuccessful and the creditor intends to escalate the matter to legal proceedings. The document must comply with Nigerian debt collection laws and regulations, including the Recovery of Debts (Special Provisions) Act and relevant contract law principles. It should clearly state the outstanding amount, include references to previous communications, specify payment terms, and outline the consequences of non-payment. This letter serves both as a final warning to the debtor and as potential evidence in subsequent legal proceedings, making its proper preparation and delivery essential for protecting the creditor's interests.
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1. Sender's Details: Full company/individual name, address, and contact information of the creditor
2. Date: Current date of the final payment request letter
3. Recipient's Details: Full name, address, and contact information of the debtor
4. Reference Line: Clear reference to the account/invoice number and 'FINAL PAYMENT REQUEST' indication
5. Subject Matter: Clear statement of the purpose of the letter
6. Debt Details: Specific amount owed, original due date, and basis of the debt
7. Previous Communications: Reference to previous payment requests and communications
8. Payment Instructions: Clear payment deadline and detailed payment method instructions
9. Legal Consequences: Statement of intended legal action if payment is not received
10. Closing: Professional closing with contact information for payment queries
1. Interest Calculation: Include when charging interest on the overdue amount, showing calculation method and total
2. Payment Plan Option: Include when willing to consider a structured payment plan as final alternative
3. Previous Partial Payments: Include when acknowledging previous partial payments and showing remaining balance
4. Without Prejudice Statement: Include when the letter is part of ongoing negotiations or dispute resolution
5. CC Recipients: Include when copying to legal representatives or other relevant parties
1. Statement of Account: Detailed breakdown of the original amount, any payments received, interest charged, and current total
2. Copy of Original Invoice: Attachment of the original invoice or contract creating the debt
3. Payment History Log: Chronicle of all previous payment attempts and communications
4. Bank Payment Details: Separate sheet with complete banking information for payment transfer
Relevant legal definitions
Outstanding Amount
Due Date
Original Invoice
Payment Terms
Interest Rate
Default Interest
Business Day
Notice Period
Payment Deadline
Original Agreement
Authorized Representative
Bank Details
Legal Proceedings
Previous Communications
Registered Office
Principal Sum
Accrued Interest
Total Amount Due
Payment Method
Grace Period
Due Date
Original Invoice
Payment Terms
Interest Rate
Default Interest
Business Day
Notice Period
Payment Deadline
Original Agreement
Authorized Representative
Bank Details
Legal Proceedings
Previous Communications
Registered Office
Principal Sum
Accrued Interest
Total Amount Due
Payment Method
Grace Period
Clauses
Relevant Industries
Banking and Financial Services
Manufacturing
Retail
Construction
Professional Services
Technology
Healthcare
Education
Real Estate
Telecommunications
Energy
Transportation and Logistics
Agriculture
Mining and Natural Resources
Relevant Teams
Finance
Accounts Receivable
Legal
Compliance
Credit Control
Treasury
Risk Management
Business Operations
Corporate Secretariat
Relevant Roles
Chief Financial Officer
Finance Manager
Accounts Receivable Manager
Credit Controller
Collections Specialist
Financial Controller
Legal Counsel
Compliance Officer
Business Development Manager
Account Manager
Treasury Manager
Risk Manager
Company Secretary
Managing Director
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