Document Type: DOCX
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A Demand for Settlement of Chama Contributions Demand Letter is a formal written request sent by a Chama (investment group, welfare association, or savings group) or its official representative (Chairperson, Treasurer, or Secretary) demanding that a member settle unpaid or overdue contributions.A Demand for Settlement of Chama Contributions Demand Letter entails:1. Sender’s Details2. Recipient’s Details3. Date of the Letter4. Subject/Reference Line5. Reference to Chama Membership6. Statement of Arrears7. Formal Demand for Payment8. Payment Instructions9. Deadline for Compliance10. Consequences of Non-Compliance11. Polite but Firm Closing12. Signature BlockA Demand for Settlement of Chama Contributions Demand Letter roles are:1. To formally notify the member that they are in breach of their financial obligations.2. To give the member a final opportunity to settle the debt before legal or disciplinary action.3. To preserve a written record of the Chama’s attempts to collect the contributions amicably.4. To protect the Chama’s financial interests and ensure fairness among members.5. To strengthen future legal action (the court will require evidence that a formal demand was made).Order for an editable sample template here on Sheriaplex.
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