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Debt Collection Notice

Debt Collection Notice Template for Saudi Arabia

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Key Requirements PROMPT example:

Debt Collection Notice

"I need a Debt Collection Notice for collecting an overdue payment of SAR 2.5 million from a construction company in Riyadh, where we've already made three unsuccessful collection attempts and plan to initiate legal proceedings if payment isn't received by March 15, 2025."

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Document background
The Debt Collection Notice is a crucial document used in Saudi Arabia when formal demands for payment need to be made to debtors. It serves as an important step in the debt recovery process, often preceding legal action, and must comply with Saudi Arabia's Enforcement Law (Royal Decree No. M/53) and Islamic financial principles. The notice is typically issued after informal collection attempts have failed and represents a formal step toward legal proceedings. It must carefully balance the creditor's right to collect with Sharia compliance requirements, particularly regarding interest (riba) and late payment charges. The document includes comprehensive details about the debt, payment history, and clear payment instructions, while maintaining compliance with Saudi Arabian commercial law and Islamic banking regulations.
Suggested Sections

1. Sender Details: Full legal name, address, and contact information of the creditor or collection agency

2. Recipient Details: Full legal name, address, and contact information of the debtor

3. Reference Information: Debt reference numbers, account numbers, and any relevant contract references

4. Debt Details: Clear statement of the original debt amount, current amount due, itemized breakdown of any additional charges or fees

5. Payment History: Summary of previous payments made and missed payment dates

6. Legal Basis: Reference to the underlying contract or basis for the debt, including relevant Saudi laws and Sharia compliance statements

7. Payment Demand: Clear statement of the amount demanded and payment deadline

8. Payment Instructions: Detailed information on how and where to make the payment

9. Consequences of Non-Payment: Clear statement of legal actions that may be taken if payment is not received

10. Contact Information: Details for dispute resolution or payment arrangements

Optional Sections

1. Previous Correspondence Reference: Include when this is a follow-up notice to reference previous collection attempts

2. Payment Plan Options: Include when the creditor is willing to accept installment payments or negotiate terms

3. Third Party Authorization: Include when the notice is sent by a collection agency or legal representative on behalf of the original creditor

4. Dispute Resolution Process: Include when there's a specific process for the debtor to dispute the debt

5. Sharia Compliance Statement: Include detailed reference to Sharia compliance when the debt involves Islamic financial products

Suggested Schedules

1. Schedule A - Debt Calculation: Detailed breakdown of the debt, including principal, any permissible charges, and calculation methodology

2. Schedule B - Payment History: Detailed listing of all payments and attempts to collect

3. Schedule C - Supporting Documents: Copies of relevant contracts, invoices, or other documents proving the debt

4. Appendix 1 - Legal References: Relevant sections of Saudi laws and regulations applicable to the debt collection

5. Appendix 2 - Communication Records: Log of all previous communications regarding the debt

Authors

Alex Denne

Head of Growth (Open Source Law) @ 黑料视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions






























Clauses




















Relevant Industries

Banking & Financial Services

Commercial & Retail

Manufacturing

Construction

Healthcare

Professional Services

Real Estate

Telecommunications

Utilities

Education

Logistics & Transportation

Relevant Teams

Legal

Finance

Accounts Receivable

Credit Control

Collections

Compliance

Risk Management

Treasury

Islamic Banking

Corporate Affairs

Relevant Roles

Credit Controller

Collections Manager

Financial Manager

Accounts Receivable Specialist

Legal Counsel

Compliance Officer

Finance Director

Treasury Manager

Risk Manager

Commercial Manager

Chief Financial Officer

Corporate Lawyer

Debt Recovery Specialist

Islamic Finance Compliance Officer

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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