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A Construction Promissory Note is a specialized financial instrument commonly used in the Philippine construction industry to facilitate project financing and material purchases. This document is particularly useful when construction companies, developers, or project owners need to secure materials, services, or labor with a formal promise of future payment. The note combines elements of standard promissory notes with construction-specific provisions, making it suitable for construction project financing while ensuring compliance with Philippine law. It typically includes project details, payment schedules, and may be tied to construction milestones. Used extensively in both private and commercial construction projects, this document type provides security for creditors while offering borrowers a structured payment arrangement. The Construction Promissory Note must comply with both the Negotiable Instruments Law of the Philippines and relevant construction industry regulations.

1. Promise to Pay: Clear and unconditional promise to pay a specific sum of money

2. Maker Details: Complete identification and contact information of the party making the promise to pay

3. Payee Details: Complete identification and contact information of the party to whom payment is promised

4. Amount: Principal amount in both numbers and words

5. Interest Rate: Specified interest rate and calculation method

6. Payment Terms: Due date(s) and payment schedule

7. Construction Project Details: Brief description of the construction project related to the promissory note

8. Place of Payment: Specified location or method where payment should be made

9. Date and Execution: Date of execution and signature blocks