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The Promise Promissory Note For Hospital Bill is a crucial document in the Philippine healthcare system, bridging the gap between medical service provision and payment management. This document becomes necessary when patients are unable to fully settle their hospital bills immediately upon discharge or completion of medical services. It provides a legally-compliant framework under Philippine law for establishing a payment plan while protecting both the healthcare provider's right to payment and the patient's right to reasonable payment terms. The document incorporates elements required by the Negotiable Instruments Law, Hospital Detention Law, and other relevant Philippine regulations. It typically includes details of the medical debt, payment schedule, interest rates if applicable, and any guarantees or securities provided. This type of promissory note is particularly important in ensuring hospitals can continue providing services while maintaining financial sustainability, all while working within the legal framework that prohibits patient detention for non-payment of bills.

1. Heading and Date: Title of the document as 'Promissory Note' and the date of execution

2. Parties: Full legal names and addresses of the maker (patient/debtor) and the payee (hospital)

3. Amount and Value Received: The principal amount in both figures and words, with reference to the hospital bill as consideration

4. Promise to Pay: Unconditional promise to pay the specified amount, including interest rate if applicable

5. Payment Terms: Detailed payment schedule, including installment amounts, due dates, and method of payment

6. Default Provisions: Consequences of missing payments, including any penalties or acceleration clauses

7. Interest Rate: Specification of interest rate (if any) and how it is calculated

8. Venue of Payment: Where and how payments should be made

9. Attestation: Statement confirming the maker's understanding and voluntary execution of the note

10. Signatures: Signature lines for the maker and witness(es)