Document background
A Promissory Certificate is commonly used in Singapore's business and financial transactions when one party needs to formalize a promise to pay another party a specific sum of money. This document, governed by Singapore law, serves as evidence of debt and creates a legally enforceable obligation. The certificate typically includes the amount promised, payment schedule, interest rates (if applicable), and any security arrangements. It's particularly useful in business financing, loan documentation, and commercial transactions where formal documentation of payment obligations is required.
