Document background
The Credit Promissory Note is a specialized financial instrument used in Belgian commercial and banking practice when parties wish to document a credit arrangement in a form that is both a formal acknowledgment of debt and a negotiable instrument. This document type is particularly useful in situations where a creditor requires a readily transferable evidence of debt while maintaining specific credit terms. The Credit Promissory Note must comply with Belgian law requirements, including the Civil Code and Code of Economic Law, as well as European regulations. It typically includes details of the credit amount, interest rates, payment terms, and any security arrangements. This instrument is commonly used in commercial lending, trade finance, and structured credit arrangements within the Belgian market, offering the advantage of being both a credit agreement and a negotiable instrument that can be transferred or used as security.
