Document background
The Simple Promissory Letter is a widely used legal instrument in Belgian business and personal transactions where one party wishes to formalize a promise to pay money to another. This document type is particularly useful in situations involving loans, deferred payments, or debt acknowledgments. Under Belgian law, the Simple Promissory Letter must contain certain essential elements to be valid, including clear identification of parties, specific payment amount, and payment terms. The document is governed by the Belgian Civil Code and provides the promissee with a clear legal basis for enforcing the payment obligation. It can be used in both commercial and private contexts, offering a simpler alternative to more complex loan agreements while still maintaining legal enforceability.
