Notice of Default Package

for Your State

Notice informing person or entity that they are in default of a contract obligation.

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Choose the Notice of Default that is right for your situation!

A Notice of Default is a communication to another person or entity informing them that they have defaulted on an obligation within an agreement (i.e. a lease or other type of contract). Generally agreements are fairly specific regarding what the non-defaulting party is required to do and how they may proceed. This packet includes three notices. The first is a notice which requires correction of the default within a specified number of days. The second accelerates any remaining obligations and requires immediate payment. The third terminates the agreement and requires immediate payment of any outstanding balance.

These forms can be used in all states.

This package contains: (1) Instructions and Checklist for the Notice of Default; (2) Information about the Notice of Default; and (3) Three Notices of Default.
Number of Pages5
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#21868
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.








 



Notice of Default











This Packet Includes:
   1. Instructions & Checklist
   2. General Information
   3. Notice of Default





Instructions and Checklist
 Notice of Default


   Three Notices have been included in this packet. Choose the notice that is appropriate for your situation.

   Review your original agreement to determine what steps you must take when the other party has defaulted.  The original agreement may require that notice be provided in a very specific manner and that time be allowed for correction.

   Insert all requested information in the spaces provided on the form.  Bracketed, italicized instructions have been inserted in the Notices to help guide you.  Erase these instructions before printing your final version.

   These forms contain the basic terms and language that should be included in similar agreements.

   Laws vary from time to time and from state to state. These forms are not intended and are not a substitute for legal advice. These forms should only be a starting point for you and should not be used or signed before first consulting with an attorney to ensure that they address your particular situation. An attorney should be consulted before negotiating any document with another party.

   The purchase and use of these forms is subject to the “Disclaimers and Terms of Use” found at www.findlegalforms.com






General Information
Notice of Default

A Notice of Default is simply a communication to another person or entity informing them that they have defaulted on an obligation within an agreement.  Generally agreements are fairly specific regarding what the non-defaulting party is required to do and how they may proceed.  For example, your agreement may require that you notify the defaulting party of their default and allow them 5 days to correct.  Other agreements may allow you to terminate the agreement immediately and demand immediate payment of any account balance.  

This packet includes three notices.  The first is a notice which requires correction of the default within a specified number of days.  The second accelerates any remaining obligations and requires immediate payment.  The third terminates the agreement and requires immediate payment of any outstanding balance.  Choose the notice that is appropriate for your situation and complies with the provisions in the agreement.
 
Laws vary from time to time and from state to state.  These forms should only be a starting point for you and should not be used before first consulting with an attorney to ensure that it addresses your specific situation.






DISCLAIMER:

FindLegalForms, Inc. (“FLF”) is not a law firm and does not provide legal advice.  The use of these materials is not a substitute for legal advice. Only an attorney can provide legal advice.  An attorney should be consulted for all serious legal matters.  No Attorney-Client relationship is created by use of these materials.  

THESE MATERIALS ARE PROVIDED “AS-IS.  FLF DOES NOT GIVE ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY, SUITABILITY OR COMPLETENESS FOR ANY OF THE MATERIALS FOR YOUR PARTICULAR NEEDS.  THE MATERIALS ARE USED AT YOUR OWN RISK.  IN NO EVENT WILL:  I) FLF, ITS AGENTS, PARTNERS, OR AFFILIATES; OR II) THE PROVIDERS, AUTHORS OR PUBLISHERS OF ITS MATERIALS, BE RESPONSIBLE OR LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATE OR PROFITS; OR BUSINESS INTERRUPTION) HOWEVER USED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, STRICT LIABILITY, OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANY WAY OUT OF THE USE OF THESE MATERIALS. 


                        [Insert your Company Name]
                        [Insert your address]
                        

[Insert Date]





[Insert Address of Recipient]
__________________________
__________________________
__________________________


Re: Notice of Default


Dear [Insert Name of Recipient]:

This letter serves as your notice that you are in default of the __________________ [insert the type of contractLease Agreement, Storage Agreement, etc.]dated ______________, _____ (the “Agreement”) as described below:

[e.g Under Section 2.8 of the Agreement you are required to pay a lease payment of $300 per month.  We have not yet received payments originally due on ___________ and __________.]

In accordance with the Agreement, you are obligated to correct the default within ____ days of receiving this notice [check the Agreement to determine how long the defaulting party has to correct].  If you do not correct the default by _____________, 20__, we will have no choice but to explore other alternatives to correct this situation, including any rights and remedies we have under the Agreement and possibly the institution of legal proceeding against you to recover any amounts owed to us, including any penalties, interests and legal costs.

Thank you for your prompt attention to this matter.



                                Sincerely Yours,



                                [Insert your name]
[Insert your Company Name]
                        [Insert your address]
                        

[Insert Date]







[Insert Address of Recipient]
__________________________
__________________________
__________________________


Re: Notice of Default


Dear [Insert Name of Recipient]:

This letter serves as your notice that you are in default of the __________________ [insert the type of contractLease Agreement, Storage Agreement, etc.]dated ______________, _____ (the “Agreement”) as described below:

[e.g Under Section 2.8 of the Agreement you are required to pay a lease payment of $300 per month.  We have not yet received payments originally due on ___________ and __________.]

In accordance with the Agreement, we hereby accelerate your obligations and require full payment of the balance.  The total amount of $______________, which includes a late fee of $____________, is now due.  [erase the statement regarding a late fee  if there is none] You must pay the total amount within __________ days of receiving this letter.  If you do not, we will have no choice but to explore other alternatives to correct this situation, including any rights and remedies we have under the Agreement and possibly the institution of legal proceeding against you to recover the amount listed above, including any penalties, interests and legal costs.

Thank you for your prompt attention to this matter.



                                Sincerely Yours,


                        [Insert your name][Insert your Company Name]
                        [Insert your address]
                        

[Insert Date]






[Insert Address of Recipient]
__________________________
__________________________
__________________________


Re: Notice of Default


Dear [Insert Name of Recipient]:

This letter serves as your notice that you are in default of the __________________ [insert the type of contractLease Agreement, Storage Agreement, etc.]dated ______________, _____ (the “Agreement”) as described below:

[e.g Under Section 2.8 of the Agreement you are required to pay a lease payment of $300 per month.  We have not yet received payments originally due on ___________ and __________.]

In accordance with the Agreement, we hereby terminate the Agreement and require full payment of the balance of your account.  The total amount of $______________ is now due.  You must pay the total amount within __________ days of receiving this letter.  If you do not, we will have no choice but to explore other alternatives to correct this situation, including any rights and remedies we have under the Agreement and possibly the institution of legal proceeding against you to recover the amount listed above, including any penalties, interests and legal costs.

Thank you for your prompt attention to this matter.



                                Sincerely Yours,



                        [Insert your name]
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