Document background
The Promissory Note Signed By Borrower Only is a crucial financial instrument in Singapore's legal framework, commonly used when a clear record of debt and repayment terms is needed. This document type provides a straightforward way to formalize lending arrangements while maintaining compliance with Singapore's monetary and banking regulations. It includes essential elements such as the principal amount, payment terms, and any applicable interest rates, serving as evidence of debt in potential legal proceedings. The single-signature format simplifies execution while still maintaining legal enforceability under Singapore law.
