Right To Cure Letter Format
Description
How to fill out South Carolina Notice Of Consumer's Right To Cure Default?
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FAQ
If the contractor fails to make progress or fails to perform any other provision of the contract, the Agency Contracting Officer (ACO or CO) will issue a ?Cure Notice?. The cure notice must be in writing and specifically state what failure exists and provide 10 days to 'cure' the failure.
The legal right to cure is a principle founded in contract law that allows one party in a contract, who has defaulted under a contract provision, to remedy their default by taking steps to ensure compliance or otherwise, cure the default.
Your cure notice response must address the issues discussed in the issued letter at a minimum. Address the issues discussed in the cure notice. Address the contractual issues that are out of your control. Show a plan of action that addresses how you will meet the contract terms and conditions.
If you fail to make a required payment on time, the lender must send you a "Notice of Right to Cure" the default. This Notice can only be sent once you are more than ten days late and it gives you 20 days to catch up your payments.
A cure or termination letter should begin where the problems began and tell the story chronologically. Bullet points work well to sum up this information. A contractor should be specific on the important dates, or if specific dates are not available, reference relevant time frames.