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The Promissory Letter For Late Payment is a crucial document in the UAE's commercial landscape, used when a party has failed to meet their payment obligations and wishes to formally acknowledge the debt while committing to a new payment schedule. This document is particularly relevant in the UAE's business environment where post-dated cheques and credit terms are common practice. It must comply with UAE Federal Law No. 18 of 1993 (Commercial Transactions Law) and related regulations, making it a legally enforceable instrument. The document serves multiple purposes: it confirms the outstanding amount, provides evidence of the debt, establishes a clear payment commitment, and can be used in legal proceedings if necessary. It's commonly used in various commercial transactions and can include provisions for late payment interest (subject to UAE Central Bank regulations), security arrangements, and personal guarantees if required.

1. Letter Header: Date, letterhead, and reference number of the original invoice/debt

2. Debtor Details: Full legal name, address, and identification details of the party making the promise to pay

3. Creditor Details: Full legal name and address of the party to whom the payment is owed

4. Debt Acknowledgment: Clear statement acknowledging the original debt amount, its origin, and the fact that it is overdue

5. Amount Due: Total amount payable including any agreed late payment charges or interest

6. Unconditional Promise: Explicit, unconditional promise to pay the stated amount

7. Payment Terms: Specific payment schedule, including dates and installment amounts if applicable

8. Place of Payment: Specific location or bank account details where payment should be made

9. Signature Block: Space for debtor's signature, name, date, and witness details