Document background
The Family Member Promissory Note is essential for documenting financial loans between family members in Switzerland, providing a clear legal framework while acknowledging the unique nature of family relationships. This document is particularly useful when family members wish to formalize financial arrangements, whether for business investments, property purchases, education funding, or other personal needs. The note must comply with Swiss legal requirements, including the Swiss Code of Obligations and relevant tax regulations, while maintaining flexibility for family circumstances. It includes comprehensive details about the loan terms, repayment schedule, interest provisions (if any), and default procedures, all tailored to meet Swiss legal standards. The document is designed to protect both the lending and borrowing family members' interests while potentially offering more favorable terms than commercial loans.
