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A demand letter, letter of demand, [1] (of payment), or letter before claim, [2] is a letter stating a legal claim (usually drafted by a lawyer) which makes a demand for restitution or performance of some obligation, owing to the recipients' alleged breach of contract, or for a legal wrong.
Word Indonesian Meaning Dutch Word Dutch Meaning Note Ref abolisi: abolition: abolitie: abolition: abonemen: subscription: abonnement: subscription: accoord: agreement, accord: akkoord: agreement, accord: 1. clipped as acc. 2. Loan word borrowed from French from Vulgar Latin *accordō, accordāre (“to be heart to heart with”), formed from ...
Documents forwarded in trust remove the payment security of a letter of credit so this route must only be used as a last resort. Some banks will offer to "Telex for approval" or similar. This is where the nominated bank holds the documents, but sends a message to the issuing bank asking if discrepancies are acceptable. [3]
A 1926 promissory note from the Imperial Bank of India, Rangoon, Burma for 20,000 rupees plus interest. A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), [1] subject to any ...
Communications progress from gentle reminders to threatening letters and phone calls and more or less intimidating location visits as accounts become more overdue. Laws in each country regulate the form that dunning can take. It is generally unlawful to harass or threaten consumers. It is acceptable to issue firm reminders and to take all ...
The demand guarantee bridges the "gap of distrust" that exists between the parties. When the bank issues the demand guarantee, the beneficiary deals with a party whose financial strength he can trust and a party which would pay upon first demand regardless of an existing dispute between the parties on the performance of the underlying contract. [5]
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