A Notice of Funds Due for Client is a document by which a service provider, someone that has provided some kind of service, requests payment from the person who obtained the service, the client. It is a simple document, which just contains the basic details on why the funds are due, including the details of the service provided.
This Notice of Funds Due for Client is used only in business circumstances, for clients that must pay for a service. It would not be used in a personal circumstance, such as where a friend or family member owes funds for a personal loan or other reason. In that way, this document is similar to a Monetary Demand Letter, but different in that a Monetary Demand Letter can be used in almost any circumstance where money is due, but this is limited to one specific case. Additionally, a Monetary Demand Letter is most often sent when payment is far past due - a Notice of Funds Due for Client can be used to request funds right away and they do not need to be past due (but can be).
This document may be used in conjunction with a Service Agreement. For example, if a service provider was hired but then did not receive proper, on-time payment from a client, this Notice of Funds Due can be used.
How to use this document
This document can be used when a written request for payment needs to be sent to a client for a service. As mentioned above, it does not need to be used in the specific instance where payment is past due, but it may be. It can be used as a first notice that payment is due on a service.
Using this document will be more effective than making non-written requests, as having a written notice will help in case additional legal steps need to be taken to recover the funds at a later date.
In this notice, details about why the payment is required shall be entered, such as a description of the services that were rendered and the date on which they were rendered. Additional information will be requested, such as whether or not the payment was past due, and form will be populated accordingly.
When this form is complete, it is a good idea to print it so that it may be sent to the client.
There are no laws outlining what must be put into a Notice of Funds Due in the United States. It's best practice to include as much information as possible to give the client an accurate picture of why they need to remit the funds.
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