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This document template is designed for situations where family members in Hong Kong need to formalize a loan arrangement while maintaining the special nature of family relationships. A Simple Promissory Note Between Family Members provides a legally valid framework under Hong Kong law, particularly complying with the Bills of Exchange Ordinance (Cap. 19), while keeping the document accessible and straightforward. It's particularly useful for significant loans where parties want to avoid future misunderstandings, for estate planning purposes, or when documentation is needed for tax or legal purposes. The document includes essential elements such as party identification, loan amount, payment terms, and witness provisions, with optional sections for interest rates and special conditions. While maintaining legal enforceability, it preserves the informal and flexible nature often desired in family financial arrangements.

1. Parties: Identification of the lender (promisee) and borrower (promisor) with full legal names and addresses

2. Background: Brief context of the family loan arrangement and relationship between parties

3. Definitions: Essential terms used in the document including 'Principal Sum', 'Interest Rate' (if applicable), 'Payment Date(s)', and 'Default'

4. Promise to Pay: Clear statement of the unconditional promise to pay the specified amount

5. Principal Amount: The exact amount being borrowed in both numbers and words

6. Payment Terms: Specification of when and how the payment(s) will be made, including payment schedule if applicable

7. Execution: Signature blocks for both parties and witness(es)