Document background
An Amended Promissory Note is utilized when parties need to modify the terms of an existing promissory note while preserving the underlying debt obligation. This document is particularly relevant in Hong Kong's dynamic business environment where financing terms may need adjustment due to changing business conditions, financial circumstances, or mutual agreement between parties. The document must comply with Hong Kong's Bills of Exchange Ordinance and Stamp Duty Ordinance, ensuring proper execution and stamping. The Amended Promissory Note typically includes references to the original note, specific amendments being made, and confirmation of terms that remain unchanged. It's commonly used in both commercial and private lending situations where formal documentation of debt modification is required.
