Simple Promissory Letter Template for Austria

The Simple Promissory Letter (Schuldschein) is a fundamental debt instrument in Austrian legal practice, commonly used to formalize monetary obligations between parties. This document type is particularly valuable when parties need to document a straightforward debt obligation without the complexity of a full loan agreement. It finds application in various contexts, from business loans to personal lending arrangements, and is recognized under Austrian law as a valid evidence of debt. The document typically includes the promise to pay, payment terms, and parties' details, creating a clear and enforceable obligation. While simpler than a full loan agreement, the Simple Promissory Letter still carries full legal weight under Austrian civil law and provides important protections for both creditor and debtor.

1. Place and Date: Location and date of issuance of the promissory letter

2. Debtor Information: Full legal name and address of the person/entity making the promise to pay

3. Creditor Information: Full legal name and address of the person/entity to whom the payment is promised

4. Amount and Currency: Clear statement of the principal amount owed and currency

5. Payment Terms: Specific terms of repayment including due date(s)

6. Interest Rate: If applicable, the agreed interest rate and calculation method

7. Declaration of Promise: Clear and unconditional promise to pay the stated amount

8. Signature Block: Space for debtor's signature and date of signing