Notice Regarding Outstanding Payment under Services Agreement - Word & PDF Template Form Pro · IN-law

WITHOUT PREJUDICE

FROM:

________

________

CIN/Registration No.: ________

GSTIN: ________

Attention: ________ (________)

Date: ________

Mode of Service: ________

TO:

________

________

CIN/Registration No.: ________

GSTIN: ________

Attention: ________ (________)

RE: NOTICE OF DEMAND FOR PAYMENT OF OUTSTANDING DUES UNDER SERVICE AGREEMENT DATED ________

Dear Sir/Madam,

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1. The Service Agreement. By a ________ dated ________ (the "Service Agreement"), ________ (hereinafter "We/Us/Our") and ________ (hereinafter "You/Your") agreed upon the mutual rights and obligations recorded therein. A true copy of the Service Agreement is enclosed herewith for your ready reference and is to be read as forming part of this Notice.
2. Scope. The Service Agreement governs the provision of the following services/transactions: ________.
3. Invoicing and Payment Terms. Pursuant to Clause ________ of the Service Agreement, payment of each invoice fell due within ________ (________) days of the invoice date, subject to a grace period of ________ (________) days from the due date.
4. Outstanding Invoice. Notwithstanding our prior reminders and communications, the invoice bearing no. ________ issued on ________ remains unpaid. The total amount payable under the said invoice is Rs. ________ (Rupees ________).
5. Part Payment. Despite our earlier communications emphasising the outstanding dues, you have made only a part payment of Rs. ________ (Rupees ________), leaving a balance principal sum of Rs. ________ (Rupees ________) outstanding and payable as on the date of this Notice.
6. Breach. By failing to remit the said amount within the contractually stipulated period, you are in breach of Clause ________ of the Service Agreement. This default constitutes a breach of contract for which you are liable under Sections 73 and 74 of the Indian Contract Act, 1872.
7. Interest. In addition to the principal sum, you are liable to pay interest on the outstanding amount at the rate of ________% per annum from the due date until the date of actual payment, in accordance with the Service Agreement and, where applicable, the Interest Act, 1978.
8. Formal Notice. This communication constitutes the formal notice of payment default required under Clause ________ of the Service Agreement.
9. Demand. We hereby call upon you to pay the entire outstanding sum of Rs. ________ together with accrued interest, within ________ (________) days from the date of receipt of this Notice, by remittance to the following account: ________.
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11. Dispute Resolution. Any dispute arising out of or in connection with the Service Agreement shall be resolved in accordance with the dispute resolution and governing law provisions thereof, namely arbitration seated at ________ under the Arbitration and Conciliation Act, 1996, and the courts at ________ shall have exclusive jurisdiction, all governed by the laws of India.
12. Reservation of Rights. This Notice is issued entirely without prejudice to, and in addition to, all rights, remedies and claims available to us under the Service Agreement and applicable law, all of which are expressly reserved.

Your prompt attention to this matter is greatly appreciated.

Sincerely,

___________________

For and on behalf of ________

Name: ________

Designation: ________

Enclosure: Copy of the Service Agreement dated ________ and copy of invoice no. ________.