The Short Form Promissory Note is widely used in Hong Kong's business and financial landscape to document monetary obligations in a clear and enforceable manner. Governed by Hong Kong law, particularly the Bills of Exchange Ordinance (Cap. 19), this instrument serves as evidence of debt and outlines the terms of repayment. It is commonly used in various scenarios including business loans, private lending arrangements, and commercial transactions where deferred payment is involved. The document typically includes essential information such as the principal amount, interest rate, payment terms, and parties' details, while maintaining a concise format suitable for straightforward transactions. This form of Promissory Note is particularly useful when parties need a legally binding document that is simpler than a full loan agreement but still provides adequate protection for the lender.

1. Date and Place of Execution: Specifies when and where the promissory note is made

2. Parties: Identifies the maker (promisor) and the payee of the note

3. Promise to Pay: Contains the unconditional promise to pay a specific sum of money

4. Principal Amount: States the amount promised to be paid in both numbers and words

5. Interest Rate: Specifies the applicable interest rate and calculation method

6. Payment Terms: Details when and how payment(s) will be made

7. Place of Payment: Specifies where payment is to be made

8. Signature Block: Space for maker's signature and details