This letter is a formal demand for immediate payment of a specified amount in accordance with a contractual agreement between the parties.
This guarantee demand letter is to be used by the lender/creditor when the borrower/debtor has defaulted on an agreement for which a guarantor has given a guarantee.
The recipient is informed of their obligation to fulfill the obligation of the borrower/debtor in case of a breach and warned of possible legal action if they fail to make the payment by the specified deadline.
This Guarantee Payment Demand Letter refers to a prior contractual Agreement between the parties and requests the recipient to sign and return an acknowledgement receipt form.
This document is intended for use in the Emirate of Dubai.
This document is provided for reference only and is not intended to be, and should not be considered, legal advice. Determinations about whether this document will be appropriate in your particular situation or jurisdiction should be made after consultation with a legal counsel. Kanoony will not assume any legal liability that may arise from the use of this document.