Cure Notice
What is a Cure Notice?
A cure notice is a written notice issued by one party to another, declaring that certain contractual obligations have not been honored, and requiring the offending party take corrective action.
Author: Caleb Christopher
A cure notice should contain these 5 elements
Identification of the contract: The notice should clearly identify the contract in a way that does not leave room for misinterpretation. This usually means including the topic, the effective date, and the parties involved.
Description of the problem: The notice should clearly describe the specific terms and conditions that the offending party has breached and/or failed to meet, including specific instances of noncompliance.
Preferably, the notice includes evidence of the noncompliance and references the specific contract clauses violated or not complied with.Deadline for corrective action: The notice should specify a reasonable deadline for the offending party to take corrective action (or reference any pre-defined cure period from the contract, if available). The deadline should provide the offending party sufficient time to comply with the contract.
Consequences of failure to comply: The notice should clearly state the consequences that may or will result if the offending party fails to take corrective action by the deadline.
Signature and delivery: The notice should be signed and delivered to the defaulting party in accordance with the "notice" requirements in the contract, or if the contract doesn't include those instructions, the notice should be delivered in writing, preferably in physical form via mail. Email may suffice, but it's generally imprudent to send such important notices solely via email.