Document background
The Revolving Promissory Note is a fundamental financing document used when parties wish to establish a flexible credit arrangement that allows for multiple borrowings and repayments over time. This document is particularly suitable for situations where the borrower requires ongoing access to credit, such as working capital financing or regular business operations funding. Under Dutch law, the document must comply with the provisions of the Dutch Civil Code (Burgerlijk Wetboek), particularly Books 3 and 6, and may also need to address requirements under the Financial Supervision Act (Wet op het financieel toezicht) depending on the context. The note typically specifies a maximum credit limit, interest calculations, draw-down procedures, repayment terms, and the mechanics of the revolving facility, providing a legally robust framework for ongoing credit relationships.
