Promissory Note With Payment Schedule Template for Belgium

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Key Requirements PROMPT example:

Promissory Note With Payment Schedule

"I need a Promissory Note With Payment Schedule for a €250,000 business loan between my manufacturing company and ABC Finance Ltd., with monthly installments over 36 months starting March 2025, including equipment as security and an early repayment option."

Document background
A Promissory Note With Payment Schedule is a fundamental financial instrument used in Belgian business and personal transactions where structured repayment of debt is required. This document type combines the legal force of a promissory note with the practical utility of a detailed payment plan, making it particularly suitable for installment-based financial obligations. It is commonly used in business financing, real estate transactions, and commercial lending where parties need to document both the debt obligation and its repayment terms. The document must comply with Belgian legal requirements, including the Belgian Civil Code and specific legislation governing negotiable instruments. It serves as both a proof of debt and a clear framework for repayment, providing security for the payee while giving the maker a clear understanding of their payment obligations.
Suggested Sections

1. Identification of Parties: Full legal names and addresses of the maker (promisor) and payee (promisee) of the note

2. Promise to Pay: Unconditional promise to pay a specific sum of money, including the total amount in both numbers and words

3. Payment Terms: Basic terms of payment including the principal amount, interest rate (if any), and reference to the payment schedule

4. Due Date(s): Clear specification of when the payment(s) become due, including the final maturity date

5. Place of Payment: Specification of where and how payments are to be made, including bank account details if applicable

6. Default Provisions: Consequences of missing payments and circumstances that constitute default

7. Governing Law: Explicit statement that the note is governed by Belgian law

8. Signature Block: Space for dated signatures of all parties, with clear identification of their roles

Optional Sections

1. Security Provisions: Details of any collateral or security provided to guarantee the payment, used when the note is secured

2. Prepayment Terms: Terms and conditions for early payment, including any penalties or benefits, included when early payment is permitted

3. Transfer Rights: Provisions regarding the transferability of the note, included when the note is intended to be negotiable

4. Late Payment Interest: Specific provisions for additional interest on late payments, included when late payment penalties are desired

5. Notice Requirements: Procedures for providing notices between parties, included in more formal or complex payment arrangements

6. Force Majeure: Provisions for unforeseen circumstances affecting payment ability, included in longer-term payment arrangements

Suggested Schedules

1. Payment Schedule: Detailed breakdown of payment dates and amounts, including any varying payment amounts or special payments

2. Interest Calculation Schedule: If applicable, detailed explanation of how interest is calculated and applied to payments

3. Security Documentation: If applicable, details and documentation of any security or collateral provided

4. Bank Account Details: Separate schedule with complete banking information for payments, keeping sensitive information separate from the main document

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant Industries

Banking and Financial Services

Real Estate

Commercial Lending

Small and Medium Enterprises

Manufacturing

Retail

Professional Services

Construction

Import/Export

Agricultural Business

Relevant Teams

Legal

Finance

Treasury

Credit Control

Accounts Receivable

Risk Management

Commercial Operations

Corporate Banking

Business Development

Contract Administration

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Credit Manager

Financial Controller

Legal Counsel

Corporate Lawyer

Accounts Receivable Manager

Credit Risk Officer

Business Development Manager

Commercial Director

Contract Administrator

Financial Analyst

Loan Officer

Collections Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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