Grid Promissory Note Template for Austria

The Grid Promissory Note is a specialized financial instrument used in the Austrian energy sector to secure payment obligations related to grid services, infrastructure access, or energy distribution. This document type emerged from the need to provide secure payment mechanisms in the increasingly complex energy market, particularly with the growth of diverse energy providers and grid access requirements. The Grid Promissory Note combines the legal certainty of a traditional promissory note with specific provisions for grid-related services, making it particularly valuable for energy infrastructure transactions. It must comply with Austrian financial regulations, particularly the Bills of Exchange and Cheques Act, while also addressing requirements under energy sector legislation. This document type is commonly used when establishing new grid connections, securing ongoing grid service payments, or structuring payment obligations for major infrastructure projects in the energy sector.

1. Promissory Note Declaration: Clear statement identifying the document as a promissory note ("Ich zahle gegen diesen Eigenwechsel")

2. Payment Amount: Unconditional promise to pay a specific sum, stated both in numbers and words

3. Payment Details: Specification of currency, payment date, and place of payment

4. Beneficiary Information: Full legal name and address of the party to whom or to whose order payment is to be made

5. Issuer Details: Full legal name, address, and authorized signature of the issuing party

6. Place and Date of Issuance: Location and date where the promissory note is issued

7. Grid Service Reference: Reference to the underlying grid service agreement or arrangement