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Financial Promissory Note
"Need a Financial Promissory Note for a secured business loan of SGD 500,000 to be repaid in quarterly installments over 3 years, starting from March 2025, with a floating interest rate tied to SORA."
1. Note Details: Date, place of execution, and note number
2. Maker Information: Full legal name and address of the person/entity making the promise
3. Payee Information: Full legal name and address of the person/entity to whom payment is promised
4. Promise to Pay: Unconditional promise to pay with specific amount in words and numbers
5. Payment Terms: Due date, interest rate, payment schedule
6. Signature Block: Maker's signature and witness details
1. Security Provisions: Details of any collateral securing the note - include when the note is secured by assets
2. Default Provisions: Consequences of default and remedies - include when specific default terms are required
3. Prepayment Terms: Conditions for early payment - include when early payment is allowed
4. Transfer Rights: Terms for transferring or assigning the note - include when note is intended to be transferable
1. Payment Schedule: Detailed breakdown of payment installments and dates
2. Security Details: Detailed description of any collateral or security
3. Calculation of Interest: Method and examples of interest calculation
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