Document background
A Non-Negotiable Promissory Note is commonly used in Switzerland when parties need to formally document a debt obligation while ensuring it remains between the original parties involved. This document type is particularly useful in private lending arrangements, corporate financing, or other situations where the parties wish to prevent the debt from being transferred or negotiated to third parties. The note must comply with Swiss law, particularly the Swiss Code of Obligations, and typically includes the principal amount, payment terms, interest rates (if any), and clear identification of the maker and payee. The non-negotiable nature of the instrument provides additional security to both parties by ensuring the debt obligation remains within their direct control.
