Document background
A Demand Note Payable is commonly used in Singapore when parties need to document a debt that is payable immediately upon the creditor's demand. This instrument, governed by Singapore law, provides flexibility in payment timing while maintaining legal enforceability. The document typically includes the principal amount, parties' details, and any applicable interest rates. It's particularly useful in business financing, personal loans, and inter-company arrangements. The Demand Note Payable must comply with Singapore's Bills of Exchange Act and related regulations to ensure its validity and enforceability.
