Document background
A Demand Promissory Note is a crucial financial instrument in Swiss commercial and private transactions, governed by the Swiss Code of Obligations. This document type is commonly used when one party wishes to formalize a debt obligation that can be called for immediate payment by the holder. The Demand Promissory Note includes essential elements such as the unconditional promise to pay, the specified sum, and the identities of both maker and payee. It is particularly useful in business financing, private lending arrangements, and commercial transactions where immediate access to funds might be required. Under Swiss law, these notes carry specific legal protections and enforcement mechanisms, making them valuable tools for securing financial obligations and facilitating business transactions. The document must comply with strict formal requirements under Swiss law to ensure its validity and enforceability.
