Finance template
Overdue Payment Notice template
A final overdue payment notice listing the invoices in arrears, the interest worked out, the contact history, the ways to resolve it and what happens next. It suits businesses chasing a customer account before referring it to collections.
1 section, 4 tables, 1 signature block
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What you fill in
- [Date]
- [Client company]
- [Company number]
- [Client address]
- [Customer number]
- [Invoice number 1]
- [Invoice number 2]
- [Invoice number 3]
- [Email]
- [Client name]
- [Your company]
- [Bank code]
- [Account number]
- [Phone]
- [Jurisdiction]
- [Your name]
- [Licence number]
- [Your address]
The template, in full
Final notice before referral
Three invoices on this account are unpaid and the oldest is now more than two months past its due date. This letter is the final notice before the debt is referred outside the business. It is written to be easy to act on, so the amounts, the dates and the options are all in one place.
Invoices in arrears
Interest charged to [Date]
How the interest is worked out. Clause 7 of the credit application signed in March 2023 allows interest at ten per cent a year, simple, calculated daily from the due date. On [Invoice number 1] that is $1,485.00 multiplied by ten per cent, divided by 365, multiplied by 66 days, which is $26.85. Interest keeps accruing at about $1.30 a day across the three invoices until the account is cleared.
What has already been sent
How to resolve this
If nothing is received by [Date]. The account is referred to a commercial collection agency, and the reasonable recovery costs of doing so are added to the debt under clause 9 of the credit application. Supply on the account stops, including any booked work. [Your company] may commence proceedings in the small claims court in [Jurisdiction], and interest continues to run until the debt is paid.
A default may also be listed with a credit reporting body. That step is not taken lightly and is subject to the conditions set by privacy law, which include a minimum amount, a minimum period overdue and prior written notices of the kind already sent. It is raised here so the consequence is known before the date, not afterwards.
Ways to pay
[Your company] has worked with [Client company] since 2023 and would rather keep the account than close it. Paying, or picking up the phone, does both.