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90 Day Promissory Note Template for Denmark

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Key Requirements PROMPT example:

90 Day Promissory Note

I need a 90 Day Promissory Note governed by Danish law for a €50,000 business loan to be issued on March 15, 2025, secured by business inventory and including a corporate guarantee from the parent company.

What is a 90 Day Promissory Note?

The 90 Day Promissory Note is a vital financial instrument in Danish business and personal transactions, commonly used for short-term financing needs. This document, governed by Danish law, particularly the Gældsbrevsloven (Danish Promissory Notes Act), serves as evidence of debt and a promise to repay within a specified 90-day timeframe. It is typically used in situations requiring bridge financing, working capital, or short-term loans where formal bank financing might not be necessary or practical. The note must contain specific elements to be legally enforceable under Danish law, including clear identification of parties, precise payment terms, interest calculations, and default provisions. This type of document is particularly valuable in commercial transactions where parties need a formal, legally-binding instrument for short-term credit arrangements.

What sections should be included in a 90 Day Promissory Note?

1. Parties: Identification of the maker (debtor) and payee (creditor) with full legal names, addresses, and any registration numbers

2. Promise to Pay: Clear statement of the unconditional promise to pay, specifying the principal amount in both numbers and words

3. Payment Terms: Specification of the 90-day term, due date, payment method, and location of payment

4. Interest Rate: Statement of the applicable interest rate, calculation method, and payment frequency in accordance with Danish Interest Act

5. Events of Default: Definition of circumstances that constitute default and consequences thereof

6. Governing Law: Specification of Danish law as governing law and jurisdiction

What sections are optional to include in a 90 Day Promissory Note?

1. Security: Details of any collateral securing the note, used when the note is secured by specific assets

2. Guarantees: Information about any guarantors and the terms of their guarantees, included when third-party guarantees are provided

3. Prepayment Terms: Conditions and penalties for early payment, included when early payment is allowed or restricted

4. Transfer Rights: Terms regarding the transferability of the note, included when specific transfer restrictions or rights are needed

5. Notice Provisions: Detailed requirements for giving notices, included in more formal or complex arrangements

6. Representations and Warranties: Basic representations about authority and capacity, included in commercial contexts

What schedules should be included in a 90 Day Promissory Note?

1. Payment Schedule: Detailed breakdown of payment dates and amounts, used when payments are structured or installment-based

2. Collateral Description: Detailed description of any security or collateral, including registration details if applicable

3. Calculation of Interest: Detailed methodology for interest calculations if complex or variable rates apply

Authors

Alex Denne

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

Relevant legal definitions



















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Relevant Industries

Banking & Financial Services

Commercial Real Estate

Small Business

Manufacturing

Retail

Professional Services

Construction

Import/Export

Agriculture

Technology

Relevant Teams

Legal

Finance

Treasury

Credit Control

Accounts Receivable

Risk Management

Compliance

Corporate Secretariat

Commercial Operations

Relevant Roles

Finance Manager

Treasury Manager

Chief Financial Officer

Legal Counsel

Credit Manager

Accounts Receivable Manager

Corporate Controller

Risk Manager

Commercial Director

Business Development Manager

Compliance Officer

Financial Analyst

Corporate Secretary

Managing 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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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