Digital Promissory Note (dPN) is an electronic version of a promissory note – a written promise to pay a specific sum of money at a certain date. It offers the same legal validity as a paper promissory note but with increased efficiency and security. dPN includes electronic/digital signatures and security features to ensure authenticity.
Enigio’s solution trace:original makes it possible to create dPNs in accordance with MLETR and contract law. The trace:original electronic promissory note is faster, safer, more cost-efficient, and more sustainable.
Lloyds Bank is among the financial institutions already using digital promissory notes.