A Payment Recovery Letter is a crucial document in Singapore's debt recovery process, serving as a formal attempt to recover outstanding payments before pursuing legal action. It should be used when initial payment requests have been unsuccessful and a more formal approach is needed. The letter must align with Singapore's legal framework, including the Limitation Act and fair debt collection practices. It typically includes detailed payment information, history of the debt, clear payment instructions, and potential consequences of non-payment. This document is often the final step before legal proceedings and can serve as evidence in court if litigation becomes necessary.
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1. Recipient Details: Full name, address, and reference details of the debtor
2. Debt Details: Specific amount owed, original due date, and reference to original agreement/invoice
3. Payment History: Summary of previous payments and current outstanding balance
4. Demand for Payment: Clear statement of amount demanded and deadline for payment
5. Payment Instructions: Bank details or payment methods accepted
6. Consequences of Non-Payment: Clear statement of actions to be taken if payment is not received
1. Payment Plan Proposal: Optional section offering installment payments when debtor has shown willingness to pay but requires flexibility
2. Interest Calculation: Optional section providing breakdown of interest charges when contract allows for interest charges on late payments
3. Previous Communications Reference: Optional section referencing prior recovery attempts when multiple recovery attempts have been made
1. Statement of Account: Detailed breakdown of all transactions and current balance
2. Original Invoice/Contract: Copy of document establishing the debt
3. Payment History Record: Detailed record of all payments received and dates
4. Proposed Payment Plan Schedule: If installment payments are offered, detailed payment schedule
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