Promissory Note
Written proof of a loan between two parties, with interest, repayment and default.
Jurisdiction: Denmark. Written for Danish law and Danish contract practice.
What is a promissory note?
Written proof of a loan between two parties, with interest, repayment and default.
What the document must contain
- Creditor and debtor with full identification details.
- Principal, currency and what the amount covers.
- Interest, instalment profile and due dates.
- Consequences of non-payment, including default interest and acceleration.
- Any security, guarantee or pledge.
- Date and signatures, optionally with witnesses.
Relevant legislation
- Gældsbrevsloven:
- Simple og omsætningsgældsbreve samt overdragelse.
- Renteloven:
- Morarente ved for sen betaling.
References are indicative. LegalDock provides templates, not individualized legal advice.
Frequently asked questions
How strong is a promissory note as evidence?
A written, signed document is strong evidence of the claim and makes recovery considerably easier if the debtor does not pay voluntarily.
What interest can be agreed?
The parties may set the rate. Absent agreement, the statutory default interest applies from the due date: the central bank lending rate plus eight percentage points.
What does enforceable mean?
That the document can be used directly in the enforcement court without a prior judgment. The debtor must accept this expressly in the text.
When does the claim lapse?
Ordinary monetary claims lapse after three years, while a promissory note evidencing the debt typically has a ten-year limitation. Instalments and acknowledgements restart the period.
Are witnesses required?
Not as a requirement, but witnesses strengthen the evidential value and are practical if the document is later used in the enforcement court.
Guide for this template
The template comes with a step-by-step guide explaining every field and what to watch out for before signing.
Open the guide in the editor →