Free template
Notice of Default in Payment
Formally notify a borrower or tenant of missed payments and outline steps to cure default with this Notice of Default in Payment Template.
Downloaded 4418 times
Notice of Default in Payment Template
From (Sender):
Name: __________________________
Address: __________________________
Email: __________________________
Phone: __________________________
To (Recipient):
Name: __________________________
Address: __________________________
Email: __________________________
Phone: __________________________
1. Date and Subject Line
Date: __________________________
Subject: Notice of Default in Payment
2. Reference to Agreement
This notice pertains to the agreement dated [Agreement Date] between [Sender Name] (“Creditor/Landlord/Lender”) and [Recipient Name] (“Debtor/Tenant/Borrower”) concerning the following:
[Brief description of agreement, e.g., lease, loan, service contract]
3. Details of Default
As of the date of this notice, the following payment(s) are past due:
Amount Due: $[Amount]
Original Due Date: [Due Date]
Grace Period End Date: [Grace Period Date, if applicable]
Despite previous reminders, payment has not been received.
4. Cure Period and Instructions
You are hereby required to remit the full past-due amount by [Final Cure Date]. Payment must be made to:
[Payment Instructions or Address]
Failure to cure this default by the specified date may result in further action, including but not limited to termination of the agreement, eviction, repossession, or legal proceedings.
5. Additional Charges (Optional)
Late fees or penalties totaling $[Amount] have accrued in accordance with the agreement and must be included in your payment.
6. Contact Information
If you believe this notice was sent in error or wish to discuss repayment arrangements, please contact us immediately at [Contact Information].
7. Closing and Signature
Sincerely,
Signature: __________________________
Printed Name: __________________________
Title/Position: __________________________
Details
Learn more about
Notice of Default in Payment
NOTICE OF DEFAULT IN PAYMENT FAQ
What is a Notice of Default in Payment?
A Notice of Default in Payment is a written document informing a borrower, tenant, or other party that they have failed to make payments as required under a contract, lease, or loan agreement. It serves as an official warning and a record of non-compliance.
Why is a Notice of Default in Payment important?
It establishes a paper trail for enforcement actions, gives the recipient a chance to cure the default, and protects the sender’s legal rights by showing they followed proper procedures before taking further action such as foreclosure or termination.
When should you send a Notice of Default in Payment?
Send the notice immediately after a payment has been missed or after the grace period ends, as specified in the original agreement. Timely action helps resolve issues before they escalate.
What should a Notice of Default in Payment include?
It should include the names of the parties, details of the agreement, the amount past due, the deadline to cure the default, and consequences of failing to pay.
Is this notice legally binding?
The notice itself does not enforce payment but is often a required step before legal remedies such as eviction, repossession, or foreclosure can be pursued.
Need a customized Notice of Default in Payment?
Use our AI-powered builder to generate a tailored notice that complies with state laws and contract terms, ready to send and enforce.
Similar templates
