Payment reminder

Definition, key points and English template

Use a Payment Reminder if...

… you have issued an invoice and the invoice was not paid at the agreed time

… you have already asked a debtor to pay an outstanding invoice and its payment is still outstanding

… you want to remind a debtor for the first time of the payment of your invoice

Key Points included in a Payment Reminder:

What is a Payment Reminder:

A debtor is in default of payment through a reminder when the respective claim has become due or through the lapse of a specific payment date

In the event of default, the creditor may demand payment of default interest and compensation from the debtor. In any case, this requires that the debtor has already been requested to pay or that it has missed a certain agreed payment date.

A written reminder or admonishment is not required by law and a creditor could therefore directly initiate debt collection proceedings in the event of default. However, the usual practice in day-to-day business is to repeatedly remind the debtor of the outstanding invoice and allow enough time to pay it. If this is not sufficient, the debtor should be admonished as the last stage of escalation before debt collection proceedings. 

This template offers a regular warning procedure in accordance with business practice, depending on whether a payment date has been agreed or you have already reminded the debtor of your invoice and whether you wish to grant it more time.

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