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Promissory Note

Paragon Bank Technology Finance can offer suppliers use of a Promissory Note structure. These short and simple instruments are often employed by large international corporations to make deferred payments to suppliers, and achieve budgetary advantages.

Suppliers can offer deferred repayments to their customers whilst obtaining payment from Paragon Bank Technology Finance at the point of delivery.

For example, a European bank wanted to obtain software licences for use in its global offices but not make payment for them until a future budget year. PBTF entered into a promissory note with the head office, based outside UK and not subject to UK law. Through a disbursement arrangement, funds were transferred to the software supplier enabling it to recognise the sale.



 

Testimonials

When it came to putting together the finance for the Sony camera deal, the decision to use Paragon Bank Technology Finance was as much about people as numbers. Paragon Bank Technology Finance has a very good relationship with Sony, as authorised finance partners to Sony’s Financial Services, but it also has a very good relationship with us, which was very important.

Doug Urquhart
MD, Electra TV

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