By Yasmine EDDAM
2 May 2025
Promissory notes are an essential tool for managing trade receivables. It facilitates the granting of payment deadlines while allowing the sums owed to be mobilised quickly. Less widely used than the bill of exchange, it retains its advantages for certain specific transactions and provides a secure legal framework for creditors. There are a number of special features to the promissory note that should be familiarised with. Definition and legal characteristics A promissory note is a document in which one person, the subscriber, undertakes to pay a specific sum on a specific date to, or to the order of, another person, the beneficiary. Unlike a bill of exchange, which brings together three people, a promissory note involves only two parties: the subscriber performs the functions of drawer and drawee in the case of a bill of exchange. This simplification modifies certain aspects of the applicable legal regime, in particular concerning the provision. The promissory...
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