Sample Promissory Note Template

A promissory note details the total quantity of money or capital that is loaned payment timeline and interest rate charged.

Sample promissory note template. Scroll to the bottom for a blank repayment schedule that you can fill in. Therefore to help business owners save time promissory note templates are available on the web for free. A promissory note is different than a loan agreement because it only binds one party the borrower to actions such as payment or consequences such as if the borrower doesnt pay but it doesnt bind. Click the image to zoom in and read specific clauses of the promissory note in more detail.

A promissory note also sometimes called an iou is essentially a one sided document by which a borrower of money most often just called the borrower agrees to pay a lender the lender. The list features a wide array of promissory notes whether you are addressing it to a bank a school a business entity or your next door neighbor. In this regard a promissory note meets all the elements of a legally binding contract. Print or download your contract in minutes.

These conditions must be addressed in the promissory note and thereafter signed by the parties involved. Free promissory note template example pdf word download a blank ms word version of this promissory note or view a completed pdf sample to see what the final draft should look like. How to write a promissory note. Download these 43 free promissory note samples templates in ms word and pdf format to study and prepare your own promissory note comprehensively.

A promissory note or promise to pay is a note that details money borrowed from a lender and the repayment structurethe document holds the borrower accountable for paying back the money plus interest if any. This 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. A promissory note is used for straightforward basic loans and to outline payment terms such as due date and interest. Promissory notes are negotiable instruments that are saleable and unconditional and are used in business transactions around the world.

There are 2 types of promissory notes secured and unsecured. One of the risks. Browse through the list for the kind of promissory note you are looking for. Promissory notes are written agreement that specifies how borrowed loans are to be paid.

Create a free promissory note also known as an iou to document your loan. In this page you will find various promissory note templates and samples.