Document background
A 6 Month Promissory Note is commonly used in Singapore for short-term financing arrangements where one party requires immediate funds and agrees to repay within a fixed 6-month period. The document creates a legally binding obligation under Singapore law and must comply with the Bills of Exchange Act (Chapter 23). It typically includes the principal amount, interest rate, payment terms, and consequences of default. This type of note is particularly useful for businesses seeking working capital or individuals requiring bridge financing, offering a formal and enforceable promise of repayment.
