Document background
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 G脙茠脗娄ldsbrevsloven (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.
