21 Sample Promissory Note Template

Written By Anonymous Wednesday, May 21, 2014 Add Comment Edit

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. Promissory note template 20 free for word pdf a promissory note details the total quantity of money or capital that is loaned payment timeline and interest rate charged.

Secured Promissory Note Free Templates Amp Examples

Promissory notes are governed by article iii of the uniform commercial code the ucc.

Sample promissory note template. These conditions must be addressed in the promissory note and thereafter signed by the parties involved. Free promissory note template. Generally the promissory notes involve the following elements.

Download a free promissory note template below. Borrower agrees and promises to pay to lender the sum of dollars for value received with interest at the annual rate of payable after date. For a more detailed loan an in depth loan agreement can be used.

Use this document if you want the borrower to agree to give up property like jewelry cars businesses or stocks if they fail to pay back the loan. How to modify the template. You fill out a form.

It is a financial tool broadly used to document a loan or credit transaction and the borrower will be legally obligated to repay the mentioned amount of debt or loan to the lender by signing this note. In this page you will find various promissory note templates and samples. There are 2 types of promissory notes secured and unsecured.

What are the essential elements in a promissory note template. All promissory notes usually include the similar elements and heads in the promissory note template but you should still check your state laws first before making one. You can choose to make it either secured or unsecured.

The payee of the promissory notes. The document is created before your eyes as you respond to the. A promissory note is a short succinct document for a loan.

5 Best Promissory Note Templates For Ms Word Word Amp Excel