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The Demand For Payment On Promissory Note is a crucial document in Saudi Arabian commercial practice, used when a creditor needs to formally request payment from a debtor who has issued a promissory note. This document is particularly important in the Saudi Arabian legal system, where it must comply with both modern commercial law and Islamic Shariah principles, especially regarding the prohibition of interest (riba). The demand letter typically includes specific details about the promissory note, payment requirements, and consequences of non-payment, serving as a necessary precursor to any enforcement action through Saudi courts. It's commonly used in various commercial transactions where payment has been secured by a promissory note but has not been honored according to its terms.

1. Sender Details: Full legal name, address, and contact information of the party making the demand

2. Recipient Details: Full legal name, address, and contact information of the party who issued the promissory note

3. Date: Current date of the demand letter

4. Reference Details: Specific details of the promissory note including its date, number, and original amount

5. Payment Demand: Clear statement of the amount being demanded, including the principal amount and any permitted charges under Shariah law

6. Payment Instructions: Specific instructions for making the payment, including bank account details or acceptable payment methods

7. Payment Deadline: Clear statement of the deadline for payment (must be reasonable and specific)

8. Legal Basis: Reference to relevant laws and the legal basis for the demand

9. Consequences of Non-Payment: Statement of legal actions that may be taken if payment is not received by the deadline