Ingebrekestelling
Notice of Default
A notice of default is a formal written demand by which a creditor places the debtor in default for non-performance of an obligation.
A notice of default is a legal instrument under Dutch law of obligations. It formally places the counterparty in default when that party fails to perform its contractual or statutory obligations in a timely or proper manner.
The notice of default is significant because it typically marks the commencement of the periods within which damages, statutory interest or dissolution of the agreement may be claimed. Without a valid notice of default, a creditor is often unable to assert these legal consequences.
In practice, a notice of default is usually sent by registered post or through a bailiff to ensure proof of receipt and specifies a reasonable period within which performance must still be rendered.
“The attorney sent a notice of default to the contractor because the work had not been completed within the agreed period.”
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