Demand Letter for Settlement of Chama Contributions

Name: Demand Letter for Settlement of Chama Contributions
Brand: SheriaPlex
SKU: DOC-689
Price: 200 KES
Availability: InStock

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Microsoft Word (Editable)

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Document Overview

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 Details
2. Recipient’s Details
3. Date of the Letter
4. Subject/Reference Line
5. Reference to Chama Membership
6. Statement of Arrears
7. Formal Demand for Payment
8. Payment Instructions
9. Deadline for Compliance
10. Consequences of Non-Compliance
11. Polite but Firm Closing
12. Signature Block

A 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).

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Demand Letter for Settlement of Chama Contributions

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