The Store
The Demands for Payment Business/Services Section
Demand for Full Payment on Installment Promissory Note
 A demand for full payment on a promissory note can only be made if the precise terms of the note allow for this. A note may have specific terms which allow it to be accelerated upon default on any payments. This means that if the maker of the note falls behind on their payments, the holder may accelerate all of the payment dates to the present and demand that the note be paid in full. Generally, this form will be used after giving the debtor a reasonable time to make up the missed installment payment. |
Demand for Payment on Demand Promissory Note
| This document should be used when you hold a promissory note which is payable on demand and you wish to demand full payment. Realistically, you should generally allow the maker of such a note a reasonable amount of time to gather enough funds to make the payment. This form allows a period of 10 days. However, you may wish to modify this period after consulting with the debtor. |
Demand for Payment on Promissory Note Guarantor
| This form is intended for use if the defaulted-upon note has been guaranteed by a third party. Any such guaranty should, generally, be clearly noted on the face of the note. This demand notifies the guarantor of the default of the maker of the note (the borrower) and demands that the guarantor live up to the promise to pay upon the default of the maker. |
Final Demand for Payment
| This form should normally be used after one more billing cycle has elapsed since the second payment request was sent. It is a notice that collection proceeding will begin if payment has not been received on the delinquent account within 10 days. (Please note that you may extend this period if you desire, for example, to allow for 30 days to pay). |
Request for Payment
| This form should be used to make the initial request for payment from an overdue account payable. It should be sent when you have decided that an account is in delinquent status. It is intended to promote payment on the overdue account. |
Second Request for Overdue Payment
| You will generally use this form on the next billing date after you have sent the first request for payment. |