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Statutory Demand

Payment of Debt

A Statutory Demand is a formal written demand  for payment of debt. It must be served to the debtor in compliance with the local laws

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Document Description

A Statutory Demand is a formal written demand  for payment of debt. It must be served to the debtor in compliance with the local laws. This template includes the format for Docquet of Service and Denial Slip

A Statutory Demand requires the debtor to make the payment within the period specified else the creditor will initiate court proceedings for bankruptcy against the debtor and the property and goods will be confiscated for the benefits of the creditors.

The statutory demand is signed by the creditor himself or by the stating himself to be authorised to make the demand on behalf of the creditor

Docquet of Service records that the debtor is served with the Demand by the creditor on the date specified therein in presence of the witness.

Denial Slip must be filled and signed by the debtor. The debtor must choose the appropriate response from below:

* that I owe you the specified money in the Demand and

* that I am supposed to pay you the money right away.  

How to use this Document?

The statutory demand is signed by the creditor himself or by the stating himself to be authorised to make the demand on behalf of the creditor. 

The amount and deadline that the debtor should pay up should be clearly stated in the Statutory Demand. The witness must sign the Docquet of Service. The debtor should sign the denial slip after selecting the appropriate response and send it to the creditor. 

 

 

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