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Hospital Promissory Note for Malaysia

Hospital Promissory Note Template for Malaysia

A Hospital Promissory Note under Malaysian law is a legally binding financial instrument used in healthcare settings where a patient or their guarantor formally promises to pay for medical services rendered. The document, governed by Malaysian contract law and healthcare regulations, establishes payment terms, interest rates, and default provisions. It serves as both a acknowledgment of debt and a structured payment agreement, incorporating relevant provisions from the Private Healthcare Facilities and Services Act 1998 and the Contracts Act 1950.

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Hospital Promissory Note

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What is a Hospital Promissory Note?

The Hospital Promissory Note is a crucial document in Malaysian healthcare facilities when patients require structured payment arrangements for medical services. This document is typically used when immediate full payment is not possible, or when extended payment terms are requested. It combines elements of healthcare service documentation with financial payment obligations, structured under Malaysian law. The Hospital Promissory Note includes detailed information about the medical services provided, payment schedules, interest rates, and consequences of default, while ensuring compliance with Malaysian healthcare regulations and financial laws. It serves as a legally enforceable instrument that protects both the healthcare provider's right to payment and the patient's interest in having clear payment terms.

What sections should be included in a Hospital Promissory Note?

1. Parties: Identification of the hospital (promisee) and the patient/promisor, including full legal names, addresses, and identification numbers

2. Background: Brief context of the medical services rendered and the reason for the promissory note

3. Definitions: Key terms used in the document including 'Medical Services', 'Principal Sum', 'Interest Rate', etc.

4. Promise to Pay: Clear statement of the promise to pay, specifying the principal amount and the hospital as payee

5. Payment Terms: Details of payment schedule, installment amounts, and due dates

6. Interest Rate: Specification of applicable interest rate and calculation method

7. Default Provisions: Consequences of missing payments and remedies available to the hospital

8. Acknowledgment of Debt: Patient's confirmation of the debt and services received

9. Governing Law: Specification of Malaysian law as governing law and jurisdiction

What sections are optional to include in a Hospital Promissory Note?

1. Insurance Claims: Include when there are pending insurance claims that may affect the final payment amount

2. Guarantor Provisions: Required when a third party is guaranteeing the payment

3. Acceleration Clause: Optional provision allowing the hospital to demand full payment under specific circumstances

4. Prepayment Terms: Include when early payment options with potential discounts are offered

5. Assignment: Include when the hospital may need to assign the debt to a collection agency

6. Medical Records Release: Include when sharing of medical records is necessary for payment processing

What schedules should be included in a Hospital Promissory Note?

1. Schedule A - Medical Services Detail: Itemized list of medical services provided with corresponding costs

2. Schedule B - Payment Schedule: Detailed payment schedule showing installment amounts and due dates

3. Schedule C - Insurance Information: Details of insurance coverage and expected insurance payments

4. Appendix 1 - Hospital Invoice: Copy of the original hospital invoice

5. Appendix 2 - Patient Admission Records: Reference to relevant admission and treatment dates

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Malaysia

Document Type

Promissory Note

Sector

Banking

Cost

Free to use
Relevant legal definitions

























Clauses




















Relevant Industries

Healthcare

Medical Services

Financial Services

Legal Services

Insurance

Healthcare Administration

Debt Collection

Relevant Teams

Legal

Finance

Patient Services

Billing

Credit Control

Compliance

Operations

Risk Management

Patient Administration

Collections

Relevant Roles

Hospital Administrator

Finance Manager

Legal Counsel

Medical Director

Billing Coordinator

Credit Control Manager

Patient Services Manager

Healthcare Finance Officer

Compliance Officer

Collections Manager

Risk Manager

Healthcare Operations Director

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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