Demand Promissory Note Template for Germany

The Demand Promissory Note (Eigenwechsel) is a fundamental financial instrument in German commercial and private lending practices. It is particularly useful when parties need a straightforward, legally enforceable document evidencing a debt obligation that can be called upon at any time. Governed by the Wechselgesetz and related German commercial laws, this instrument provides creditors with enhanced enforcement options through expedited court procedures. The document's key strength lies in its simplicity and strict formal requirements, which, when met, create an incontestable obligation to pay. It's commonly used in business financing, inter-company loans, personal lending, and as security for larger transactions, offering flexibility while maintaining legal certainty under German law.

1. Document Title: Clear identification as a 'Demand Promissory Note' (Eigenwechsel/Solawechsel)

2. Promise to Pay: Unconditional promise to pay a specific sum of money

3. Payment Amount: The sum to be paid, expressed both in numbers and words

4. Payee Details: Full name and address of the person or entity to whom payment is to be made

5. Maker Details: Full name and address of the person or entity making the promise to pay

6. Date and Place of Issue: The date when and place where the note is issued

7. Payment Terms: Specification that the note is payable on demand

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