Promise Promissory Note For Hospital Bill Template for Singapore

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Key Requirements PROMPT example:

Promise Promissory Note For Hospital Bill

"I need a Promise Promissory Note For Hospital Bill for a payment plan of SGD 50,000 to be paid in monthly installments over 24 months, starting from March 2025, with a 5% annual interest rate and my elderly father as guarantor."

Document background

The Promise Promissory Note For Hospital Bill is commonly used in Singapore when patients need to formalize arrangements for paying substantial medical expenses over time. This document is particularly relevant when immediate full payment isn't possible, but the healthcare provider requires assurance of future payment. It includes specific details about the medical services rendered, payment schedule, and consequences of default, all while adhering to Singapore's healthcare and financial regulations. This type of promissory note provides legal protection for both the healthcare provider and the patient, establishing clear terms and conditions for debt repayment.

Suggested Sections

1. Date and Place of Execution: Specifies when and where the note is executed

2. Maker Details: Full name and address of the person promising to pay

3. Payee Details: Hospital/healthcare provider's full legal name and address

4. Promise to Pay: Clear statement of promise to pay the specified amount

5. Principal Amount: Exact amount owed for medical services

6. Payment Terms: Schedule and method of payment

7. Signature Block: Space for signatures and witness details

Optional Sections

1. Interest Rate: Terms for interest charges and calculation method if applicable

2. Default Provisions: Consequences and procedures in case of missed payments

3. Acceleration Clause: Conditions under which full amount becomes immediately due

4. Security Interest: Details of any collateral securing the note

Suggested Schedules

1. Schedule A - Payment Schedule: Detailed breakdown of payment installments and due dates

2. Schedule B - Medical Services Detail: Itemized list of medical services covered by the note

3. Schedule C - Hospital Bill Details: Copy of original hospital bill and charges

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Healthcare
Financial Services
Insurance

Relevant Teams

Finance
Billing
Legal
Patient Services
Credit Management

Relevant Roles

Hospital Administrator
Financial Controller
Billing Manager
Credit Manager
Patient Financial Services Director

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Let's create your Promise Promissory Note For Hospital Bill

Authors

Alex Denne

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