19-01-2024
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19-01-2024
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A Notice Regarding Outstanding Payment under Services Agreement ("Notice") is used by a Service Provider when a Client is late in making the payment for services rendered. The Notice contains the date and duration payment was due, and other related information. The Notice is typically the initial step taken by a Service Provider to recover overdue payments before resorting to legal action.
How to use this document?
The Service Provider can use this document to remind a Client that their payment is due and give them notice of late payment before escalating the matter to termination of service or other serious legal action. The Notice includes information for identifying the Service Provider and Client, details about the service transaction, including the agreed payment terms, as well as the resolution to the issue. The notice can be sent concerning delayed payment under any type of service agreement including a general service agreement, consultancy agreement, etc.
After completing the Notice, it is essential to verify the method of sending notice specified in the Service Agreement. Different Service Agreements may have different ways of sending notice, so it is important to check them carefully. In case there is no mention of the notice, it can be sent to the Client via registered mail, email, or by hand delivery. Sending the Notice through registered mail or email allows for keeping a record that the letter was sent and received by the Client. This record may be useful in the future if legal action needs to be taken.
Applicable law
The clauses mentioned under the Service Agreement including alternative dispute resolution methods, way of sending notice, etc. need to be considered. The notice will be covered under the general provisions of the Indian Contract Act, 1872.
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Other names for the document:
Notice Regarding Outstanding Payment under Services Contract, Notification of outstanding payment in services contract, Final demand for payment under service agreement, Notice of unsettled invoice in service agreement, Payment of remainder of service agreement outstanding balance.
Country: India