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A Demand notice/letter is an initial and preliminary intimation to the debtor to initiate action for payment toward the debt or an invoice.
For those who don't know, a demand letter is a formal document sent by the builder to another homebuyer asking for payment for unit allotted. So, in this scenario, the builder, according to the payment plan set up in the BBA, sends demand letters to the homebuyers seeking payment for the development of the project.
How to write a demand letterEstablish facts. Don't assume everyone knows the facts.Refer to evidence. If there's evidence (like a contract), you don't need to include it, but you should refer to it.Make a demand. Be specific as to what you want.Set a deadline and establish method of payment.Offer a consequence.
Frequently Asked Questions (FAQ)Type your letter.Concisely review the main facts.Be polite.Write with your goal in mind.Ask for exactly what you want.Set a deadline.End the letter by stating you will promptly pursue legal remedies if the other party does not meet your demand.Make and keep copies.More items...
When drafting your letter of intent, include the following points to make the letter as clear and unambiguous as possible.The compensation you offer to the contractor.The specifics of the work the contractor will perform.The start and end dates of the work.The working conditions involved with the project.More items...