Basic Promissory Note Template

More than just a template our step by step interview process makes it easy to create a promissory note due on a specific date.

Basic promissory note template. A promissory note is a legally binding document so it makes sense to want to do it right the first time. A promissory note template is a legal document containing a written promise to pay a specific amount of money to a certain individual at a particular date as well as agreed terms and conditions. A promissory note template is a financial legal instrument in which one party promises in writing to pay a determinate sum of money to the other either at a fixed or determinable future time or on demand of the payee under specific terms. Scroll to the bottom for a blank repayment schedule that you can fill in.

Below youll find a simple promissory note sample. A promissory letter or iou is a written promise made by the borrower to the creditor to pay a certain amount of money on a specific date. A promissory note template is also demonstrated as a financial instrument which served as a biding between two or more parties. If youre lending to a relative or friend youll want to craft a written agreementthis sample promissory note also available in microsoft word pdf and plain text downloadable files spells out how and when you are to be paid and what happens if the borrower doesnt repay the loan.

Therefore to help business owners save time promissory note templates are available on the web for free. These include names and signatures date state amount of cash involved and a witness signature. The lender and the borrower herein named maker and holder must sign the document in the bottom part and write their initials on the second page. It is similar to a secured promissory note however it is a note secured through something of value.

A simple promissory note is mostly used as a short term loan where one person will lend money lender to someone else borrower. Unlike most contracts promissory notes arent typically long and complicated and rather short and simple. Sample promissory note due on a specific date. If repayment stretches beyond the due date interest will begin to accumulate.

Therefore the lender and borrower dont necessarily need legal knowledge to be able to fill one in. Creating a promissory note. Firstly here is a simple promissory note template that you can print and sign on the spot. Its also a promise to pay letter or printable iou.

In accounting they are referred to as notes payable. Promissory notes are negotiable instruments that are saleable and unconditional and are used in business transactions around the world. Save sign print and download your document when you are done. Simple promissory note template example.

Just copy and paste to your word processor making the changes and corrections necessary.