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The Bank Promissory Note (Bankschuldschein) is a fundamental financial instrument in Austrian banking practice, commonly used for documenting financial obligations and facilitating both commercial and personal lending arrangements. This document type is particularly relevant when a bank needs to issue a formal, negotiable promise of payment, whether for direct lending, refinancing, or as part of more complex financial transactions. The document must adhere to strict requirements under Austrian banking law and financial regulations, including the Austrian Banking Act (BWG) and Commercial Code (UGB). It serves as a legally binding commitment from the bank to the payee, containing essential elements such as payment terms, interest provisions, and any applicable security arrangements. The Bank Promissory Note's formal structure and content make it a reliable and transferable financial instrument, widely recognized within the Austrian banking system.

1. Bank Details: Full legal name, registration number, and address of the issuing bank

2. Promise to Pay: Unconditional promise to pay a specific sum of money, including the currency and amount both in numbers and words

3. Payee Information: Complete details of the payee, including full name and address

4. Payment Terms: Specific date or determinable future time when payment is due, interest rate if applicable

5. Place of Payment: Specific location where the payment is to be made

6. Date and Place of Issue: Date when and place where the promissory note is issued