Introduction
This Statutory Demand is a formal legal document used to demand payment of a debt from a company under the Corporations Act.
It is a powerful enforcement tool that requires the company to pay the debt, secure the debt or apply to set aside the demand within the statutory timeframe.
Failure to comply with a statutory demand may result in the company being presumed insolvent and can form the basis for winding up proceedings.
This document is suitable for creditors seeking to take formal action to recover outstanding debts from companies.
📄 Statutory Demand
• Formal demand for payment of a debt
• Corporations Act compliant structure
• Clear statement of debt and amount owing
⚖️ Legal Enforcement Framework
• 21-day compliance requirement
• Insolvency trigger mechanism
• Basis for winding up proceedings
What is a Statutory Demand?
A statutory demand is a formal legal notice issued by a creditor to a company requiring payment of a debt within a specified period.
Under the Corporations Act, a company that fails to comply with a statutory demand within 21 days may be presumed to be insolvent.
This makes statutory demands a powerful tool for debt recovery and enforcing payment obligations.
Professionally Drafted Legal Precedent
Prepared by experienced Australian commercial lawyers, this precedent provides a comprehensive and reliable framework for real-world use.
The document is fully editable in Microsoft Word and includes an Editing Legal Documents Guide to assist with completing and tailoring the agreement.
Designed for immediate use, it can be adapted to suit a wide range of legal and commercial scenarios.
At A Glance
What This Document Covers
• Formal demand for payment
• Statement of debt
• Compliance requirements
• Legal notice structure
Key Features
• Corporations Act compliant
• Enforceable legal document
• Structured demand format
• Ready to use template
Typical Use
• Debt recovery
• Commercial disputes
• Company payment defaults
• Pre-winding up action
Download Details
• Professionally drafted legal precedent• Suitable for Australian use
• Fully editable Microsoft Word document
• Includes Editing Legal Documents Guide
• Instant download available immediately after purchase
Drafted by Legal Professionals
Our precedents are prepared by Australian legal practitioners and reflect commonly used legal drafting standards.
Practical and Easy to Use
Each template provides a structured framework that can be adapted to suit the specific transaction or matter.
Instant Access
Download immediately after purchase and edit the document in Microsoft Word to suit your requirements.
Also Known As
• Creditor statutory demand
• Corporations Act demand
• Formal demand for payment (company)
• Insolvency demand
Frequently Asked Questions
What happens if a company ignores a statutory demand?
If a company fails to comply within 21 days, it may be presumed insolvent and the creditor may apply to wind up the company.
Is this legally enforceable?
Yes. A statutory demand is a formal legal document with serious consequences if not complied with.
Can this be used for individuals?
No. Statutory demands are generally used for debts owed by companies, not individuals.
Statutory Demand – Instant Download
• Statutory demand template (Corporations Act)
• High-impact debt recovery document
• Suitable for company debt enforcement
• Fully editable Microsoft Word document
• Instant download available immediately after purchase
Used by lawyers, businesses and commercial operators across Australia.
Download This Precedent
Instant download. Fully editable Microsoft Word format. Includes practical drafting guidance.