Document background
The Lump Sum Promissory Note is a fundamental financial instrument used to document and formalize debt obligations under Swiss law. It serves as a legally binding commitment where one party (the maker) promises to pay a specific sum of money to another party (the payee) at a predetermined date. This document type is particularly useful in business transactions, loans, and financial arrangements where a clear, enforceable record of debt is required. The note must comply with Swiss legal requirements, particularly those set forth in the Swiss Code of Obligations, and typically includes essential elements such as the parties' details, payment amount, due date, and any applicable interest terms. A Lump Sum Promissory Note provides creditors with a strong legal position for debt collection and can be used as evidence in legal proceedings if enforcement becomes necessary.
