demand note Meaning in the Cambridge English Dictionary
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Meaning of “demand note” in the English Dictionary

"demand note" in Business English

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demand notenoun [C]

uk   us   FINANCE
(also demand draft) a ​document promising to ​pay back a ​loan when the ​lenderasks for it: The ​employeeborrows directly from a ​bank on a ​demandnotebasis and ​pays an ​annualinterestrateequal to the ​primerate.
a written ​request for a ​debt to be ​paid: The City Council has now set its ​communitycharge, and the basic ​amountpayable is shown on the ​encloseddemandnote.
(Definition of demand note from the Cambridge Business English Dictionary © Cambridge University Press)
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