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Late Payment: Final Demand Letter Template

Dear Sirs,

Final Demand

Outstanding Account – £ (Insert sum)
Late Payment Costs – £ (Insert sum)
Late Payment Interest – £ (Insert sum)
Total Outstanding – £ (Insert sum)

Despite previous reminders we are disappointed to note that the above amount remains outstanding.

As your company is now in breach of the agreed contractual payment terms we have reluctantly added further costs and interest in line with “Late Payment of Commercial Debt (Regulations) 2013”.

It is now imperative that this amount is settled in full, including late payment costs and interest charges within the next seventy-two hours. Failure to settle this now extremely overdue account will leave our organisation with little option but to pass this account to our chosen debt recovery agency, Safe Collections.

Please note: If Safe Collections is instructed to collect this overdue amount, your company will be liable for any additional debt collection costs incurred by us in their engagement.

We would therefore respectfully suggest that you treat this matter with the urgency it deserves and remit the full balance due plus all associated late payment penalties immediately.

End of letter

For your information only

Do not include the information below in correspondence to debtors.

Late payment letter drafted for Company Bug for its readers to use by Safe Collections, a debt recovery and credit control company. If you have a customer you are concerned about who may be unable or unwilling to pay your invoices you can speak to Safe Collections on 01772 454505, for a free, no obligation, credit health check.

Late payment charges as outlined above can only be charged on commercial business to business (B2B) transactions and not on business to consumer (B2C) debts.

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