Notice of Cancellation for Non-Payment - Template Form Pro · NG-law

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Ref: ________

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Dear Sir/Madam,

RE: NOTICE OF CANCELLATION OF ORDER FOR NON-PAYMENT — ORDER REFERENCE NO. ________

§1. Introduction. We write with reference to the order placed by you with ________ (the “Seller”) on ________ for the supply of the goods particularised below (the “Order”).

§2. Particulars of the Goods. The Order comprised the following goods (the “Goods”):

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§3. Outstanding Sum.

1. The total contract price payable in respect of the Order is the sum of ₦________ (________).
2. As at the date of this letter, the outstanding and unpaid sum due from you to the Seller is ₦________ (________) (the “Outstanding Sum”).
3. Payment of the Outstanding Sum fell due on or before ________, and the same remains wholly unpaid.

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§5. Reinstatement of the Order.

1. Should you wish the Order to be reinstated, you must first effect full payment of the Outstanding Sum.
2. Payment shall be made by ________ into the following account: Account Name: ________; Bank: ________; Account Number: ________.
3. Any payment made in cash of N5,000,000.00 or above (in the case of an individual) or N10,000,000.00 or above (in the case of a body corporate) shall, where applicable, be reported in accordance with the Money Laundering (Prevention and Prohibition) Act 2022.
4. Reinstatement of the Order shall be at the sole discretion of the Seller and subject to the availability of the Goods at the material time.

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§7. Enquiries. If you wish to discuss this matter, settle the Outstanding Sum, or make any enquiry concerning the Order, please contact the undersigned by telephone on ________ or by email at ________.

§8. Governing Law. This letter and any dispute arising from or in connection with the Order shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.

We thank you for your understanding and prompt attention to this matter, and we look forward to continuing our business relationship upon settlement of the Outstanding Sum.

Yours faithfully,

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For and on behalf of ________