Promissory Contract for Germany

Promissory Contract Template for Germany

A German Promissory Contract (Schuldversprechen) is a formal legal document governed by the German Civil Code (BGB), specifically § 780. This document represents an abstract promise to pay a sum of money or perform a specific obligation, independent of the underlying transaction. It must meet strict form requirements under German law, including written form unless notarized. The document's abstract nature makes it a powerful tool in commercial transactions, as it creates a separate obligation that can be enforced independently of the basic transaction. It is commonly used in financial arrangements, corporate financing, and business restructuring.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Promissory Contract

Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc

What is a Promissory Contract?

The Promissory Contract under German law serves as a fundamental instrument in commercial and financial transactions. It is particularly useful when parties need to create a clear, enforceable obligation that stands independent of other agreements or circumstances. This document type is governed by the German Civil Code (BGB) and requires specific formalities to be valid. It's commonly employed in scenarios such as debt restructuring, corporate financing, or when a party needs to formally acknowledge and promise to fulfill a specific obligation. The abstract nature of the promise, a unique feature of German law, means the obligation exists regardless of the underlying transaction's validity, providing additional security to the promisee. The document must be carefully drafted to meet both legal requirements and practical business needs, particularly when used in international contexts or when drafted in English.

What sections should be included in a Promissory Contract?

1. Parties: Identification of the promisor (person making the promise) and promisee (person receiving the promise), including full legal names and addresses

2. Background: Brief context for the promise, though keeping this limited to maintain the abstract nature of the promise

3. Definitions: Key terms used in the promise, keeping these minimal to maintain clarity

4. Promise Declaration: Clear and unequivocal statement of the promise, including the specific amount or obligation being promised

5. Payment Terms: Specific details about how and when the promised amount will be paid or the obligation will be fulfilled

6. Form Requirements: Statement confirming compliance with German law written form requirements

7. Governing Law: Explicit statement that German law governs the promise

8. Signatures: Formal signature block meeting German law requirements

What sections are optional to include in a Promissory Contract?

1. Interest Provisions: Include when the promise involves monetary payment with interest

2. Security: Include when the promise is secured by collateral or guarantees

3. Conditions: Include when the promise is subject to specific conditions precedent

4. Assignment: Include when transfer rights need to be addressed

5. Notices: Include when formal communication procedures need to be established

6. Severability: Include when there's risk that certain provisions might be challenged

7. Language: Include when the document is bilingual or when specifying that English version prevails

What schedules should be included in a Promissory Contract?

1. Payment Schedule: If the promise involves installment payments or multiple payment dates

2. Calculation of Interest: If complex interest calculations are involved

3. Security Details: If collateral or security is involved, detailed description of the security

4. German Translation: If the promise is in English, a German translation for reference

5. Power of Attorney: If relevant, documentation of authority to make the promise

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

Jurisdiction

Germany

Publisher

Genie AI

Document Type

Promissory Note

Sector

Banking

Cost

Free to use
Relevant Industries

Banking & Financial Services

Corporate Finance

Real Estate

Manufacturing

Construction

Professional Services

Investment Management

Insurance

Retail

Technology

Energy

Transportation & Logistics

Relevant Teams

Legal

Finance

Treasury

Risk Management

Compliance

Corporate Secretariat

Credit Management

Business Development

Commercial Operations

Corporate Banking

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Corporate Lawyer

Legal Counsel

Contract Manager

Financial Controller

Credit Manager

Risk Manager

Commercial Director

Business Development Manager

Company Secretary

Compliance Officer

Financial Analyst

Corporate Banking Officer

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

Find the exact document you need

Negotiable Instrument Promissory Note

A German law-governed financial instrument containing an unconditional promise to pay a specified sum, which can be transferred between parties and is regulated under the Wechselgesetz.

find out more

Basic Promissory Note

A German law-governed formal promise to pay a specified sum of money, structured as a Schuldschein (promissory note) with defined payment terms and parties.

find out more

Simple Promissory Note

A German law-governed written promise to pay a specified sum of money, structured according to BGB requirements.

find out more

Straight Note Loan

A German law loan agreement where interest is paid periodically and principal is repaid as a lump sum at maturity.

find out more

Secured Demand Note

A German law-governed debt instrument that combines on-demand payment features with security over specified collateral.

find out more

Debt Promissory Note

A German law Debt Promissory Note (Schuldschein) documenting a bilateral loan agreement, combining features of both a loan and a negotiable instrument under German legal requirements.

find out more

Bill Of Sale With Promissory Note For Automobile

A German law-governed agreement combining vehicle sale terms with a promissory note payment arrangement for automobile purchase and financing.

find out more

Installment Promissory Note

A German law-governed debt instrument documenting installment repayment terms and conditions between a debtor and creditor.

find out more

International Promissory Note

A German law-governed promissory note containing an unconditional promise to pay a specific sum in an international context, complying with both German and international legal requirements.

find out more

Loan Note

A German law debt instrument documenting a bilateral loan agreement between a borrower and lender, combining features of both a loan agreement and a transferable security.

find out more

Standard Promissory Note

A German law-governed Standard Promissory Note (Schuldschein) documenting an unconditional promise to pay a specified sum of money, subject to German Civil Code requirements.

find out more

Promissory Note Without Interest

A German law-governed financial instrument containing an unconditional promise to pay a specified sum without interest, regulated by the Wechselgesetz.

find out more

Promissory Deed

A German law Promissory Deed (Schuldschein) documenting an unconditional promise to pay a specified sum of money, subject to BGB requirements.

find out more

Promise Promissory Note For Hospital Bill

A German law-governed promissory note documenting a patient's formal commitment to pay outstanding hospital bills, with specified payment terms and conditions.

find out more

Hospital Bill Promissory Note

A German law-governed promissory note documenting a patient's commitment to pay outstanding hospital bills, establishing payment terms and conditions in compliance with German healthcare and consumer protection regulations.

find out more

Government Promissory Note

A German law-governed debt instrument representing a direct obligation of the Federal Republic of Germany, establishing terms for government borrowing through bilateral loan arrangements.

find out more

Balloon Promissory Note

A German law-governed debt instrument documenting a loan with regular payments and a larger final balloon payment, structured according to German civil law requirements.

find out more

Simple Note Payable Agreement

A German law-governed debt instrument documenting a promise to pay a specified sum with defined terms and conditions, compliant with BGB requirements.

find out more

Senior Promissory Note

A German law-governed Senior Promissory Note (Schuldscheindarlehen) establishing terms for senior-ranking debt obligations between issuer and noteholder.

find out more

Recourse Promissory Note

A German law-governed debt instrument containing a promise to pay a specified sum with recourse rights against additional parties if the primary debtor defaults.

find out more

Promissory Note With Collateral

A German law-governed debt instrument (Schuldschein) containing an unconditional promise to pay combined with security interests in specific collateral assets.

find out more

Non Recourse Promissory Note

A German law-governed debt instrument that limits the lender's recovery rights exclusively to specified collateral, structured as a Schuldschein under the German Civil Code.

find out more

Note Agreement

A German law-governed agreement establishing terms and conditions for the issuance of debt instruments (notes), including financial terms, rights, and obligations of all parties.

find out more

Loan Promissory Note

A German law debt instrument combining a loan agreement and promissory note, providing a streamlined approach to corporate financing under the German Civil Code.

find out more

Promissory Note Secured By A Deed Of Trust

A German law-governed secured lending document combining a promissory note with a deed of trust as security over real property.

find out more

Credit Card Promissory Note

A German law-governed debt instrument documenting a cardholder's promise to pay an outstanding credit card balance, incorporating consumer protection requirements.

find out more

Personal Promissory Note

A German law-governed formal written promise to pay a specific sum of money, structured according to BGB requirements and enforceable under German jurisdiction.

find out more

Short Term Unsecured Promissory Note

A German law promissory note documenting an unsecured short-term loan agreement between lender and borrower, governed by BGB provisions.

find out more

Secured Demand Promissory Note

A German law-governed financial instrument combining an unconditional promise to pay on demand with security interests in specified collateral.

find out more

Business Promissory Note

A German law-governed financial instrument representing an unconditional promise to pay a specified sum of money, commonly used in commercial transactions.

find out more

Vehicle Promissory Note

A German law-governed promissory note establishing payment terms and security interest for a vehicle purchase, compliant with BGB requirements.

find out more

Time Note Loan

A German law-governed loan agreement documenting terms for a fixed-term lending facility with specified repayment dates and interest calculations.

find out more

Short Form Promissory Note

A German law-governed financial instrument documenting a formal promise to pay a specified sum of money, structured as a simplified but legally binding debt acknowledgment.

find out more

Home Loan Promissory Note

A German law-governed promissory note document establishing terms and conditions for a residential property loan, including principal, interest, and security arrangements.

find out more

Forgivable Promissory Note

A German law-governed debt instrument combining a standard promissory note with provisions for conditional debt forgiveness.

find out more

90 Day Promissory Note

A German law-governed financial instrument containing a written promise to pay a specified sum after 90 days, structured according to German legal requirements.

find out more

Standard Promissory Note Unsecured

A German law-governed unsecured promissory note (Schuldschein) documenting a binding promise to pay a specified sum under defined terms.

find out more

Pledge Note

A German law-governed security document (Pfandschein) evidencing the creation of a pledge over specified assets as security for obligations.

find out more

Individual Promissory Note

A German law-governed written promise to pay a specified sum of money, creating a legally binding payment obligation between the maker and payee under the German Civil Code (BGB).

find out more

Credit Promissory Note

A German law Credit Promissory Note (Schuldschein) documenting a bilateral loan agreement with simplified documentation compared to traditional loan agreements.

find out more
See more related templates

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it

2 Docs LeftAccess Now