The International Promissory Note is a vital instrument in cross-border commercial transactions, providing a formal mechanism for documented payment obligations. This document type is particularly relevant when parties need a legally enforceable promise of payment across different jurisdictions, with Hong Kong law serving as the governing framework. It is commonly used in international trade financing, large commercial transactions, or structured payment arrangements where parties seek a reliable and negotiable instrument. The document must comply with the Hong Kong Bills of Exchange Ordinance (Cap. 19) while incorporating international best practices to ensure cross-border recognition and enforcement. This instrument is especially valuable when parties need a clear, transferable evidence of debt that can be used in banking channels or as security for other financial arrangements.

1. Unconditional Promise to Pay: Clear statement of absolute and unconditional promise to pay a definite sum of money

2. Parties: Identification of maker (promisor) and payee, including full legal names and addresses

3. Principal Amount: Precise amount promised to be paid, stated in both numbers and words to avoid ambiguity

4. Payment Terms: Specification of payment date(s), whether payable on demand or at a fixed/determinable future time

5. Interest Rate: Clear statement of applicable interest rate, calculation method, and payment frequency

6. Place of Payment: Specified location where payment must be made

7. Governing Law: Statement that the note is governed by Hong Kong law

8. Date and Execution: Date of issuance and maker's signature