Generic Promissory Note Template for Austria

The Generic Promissory Note is a fundamental financial instrument used in Austrian business and personal transactions. It provides a formal, legally binding promise to pay a specified sum of money, either on demand or at a predetermined future date. This document type is particularly valuable in situations requiring documented proof of debt, such as business loans, personal lending, or installment purchase arrangements. Under Austrian law, promissory notes (Eigenwechsel) are governed by the Wechselgesetz (WG), which sets strict requirements for their form and content. The Generic Promissory Note must include essential elements such as the unconditional promise to pay, the specified amount, payment date, and the parties' details to be legally valid and enforceable. Its negotiable nature makes it a useful tool for businesses and individuals seeking to document and potentially transfer debt obligations.

1. Promissory Note Declaration: Clear statement that this is a promissory note (Eigenwechsel)

2. Principal Amount: The specific sum of money promised to be paid, stated both in numbers and words

3. Payment Terms: Unconditional promise to pay, including the due date or payment schedule

4. Maker Details: Full legal name and address of the person/entity making the promise to pay

5. Payee Details: Full legal name and address of the person/entity to whom payment is promised

6. Place of Payment: Specific location where payment is to be made

7. Date and Place of Issuance: When and where the promissory note is executed

8. Maker's Signature: Legal signature of the maker with date