Its power is entirely in follow-through. A final notice that is not acted on teaches the customer that none of your notices mean anything. Set the deadline, and on the day after it, do what you said.
Glossary
Final notice
Also: final demand · demand letter
A final notice is the last message in a dunning sequence, stating what will happen (a late fee, paused service, referral to collections) if payment is not received by a specific date.
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