Simple Promissory Note No Interest Template for Austria

The Simple Promissory Note No Interest is a fundamental debt instrument used in Austrian business and personal transactions where one party wishes to formalize a loan or debt obligation without charging interest. This document type is particularly useful for straightforward lending arrangements between family members, friends, or business associates, where the addition of interest might complicate the relationship or violate religious or ethical principles. Governed by Austrian law, particularly the ABGB (Austrian Civil Code), the note must contain specific elements to be legally enforceable, including clear identification of parties, the exact sum to be repaid, and payment terms. While simpler than interest-bearing notes, it still provides legal protection for both the lender and borrower by creating a clear record of the debt obligation and its terms.

1. Date and Place of Execution: The date and location where the promissory note is signed

2. Parties' Information: Full legal names and addresses of both the promisor (debtor) and promisee (creditor)

3. Promise to Pay: Clear and unequivocal statement of the promise to pay, including the exact amount in numbers and words

4. Payment Terms: Due date or payment schedule, method of payment, and place of payment

5. No Interest Statement: Explicit statement that no interest is charged on the principal amount

6. Signatures: Space for signatures of the promisor and witness(es) if required