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Loans, sales and receipts

Promissory Note Template

A borrower signs a written promise to pay a stated sum to a named person on a fixed date or on demand. Download it in Word or PDF, or fill it in online and print it.

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PROMISSORY NOTE

Amount: ____________
Date: ____________
Place: ____________
FOR VALUE RECEIVED, I, ____________, of ____________ (the “Borrower”), promise to pay to ____________, of ____________ (the “Lender”), or to the Lender’s order, the sum of ____________ (in words: ____________), together with interest at ____________% a year on the unpaid balance from the date of this Note.
1. Payment
The amount due shall be paid (choose one): in full on ____________; or on demand, ____________ days after the Lender asks for it in writing; or in ____________ instalments of ____________ each, the first on ____________ and the rest on the same day of each following month.
2. Place and Method of Payment
Payments shall be made to the Lender at ____________ or to bank account ____________, or as the Lender directs in writing.
3. Early Payment
The Borrower may pay all or part of the amount due before it falls due, without penalty.
4. Default
If a payment is not made within ____________ days of its due date, the whole unpaid balance and interest become payable at once, at the Lender’s choice, and the Borrower shall pay the reasonable costs of collection.
5. General
The Borrower waives presentment, notice of dishonour and protest. This Note is governed by the laws of ____________.

BORROWER
Signature: ____________
Name: ____________
ID / passport number: ____________

Witness 1 — Name: ____________ Signature: ____________
Witness 2 — Name: ____________ Signature: ____________

When is a promissory note used?

When a borrower gives a short written promise to repay money: for a personal loan, money advanced to a business, a deposit refundable later or a debt being paid off in instalments.

Signing and where it goes

The borrower signs it and gives it to the lender, who keeps the original. It is evidence of the debt if it is not repaid.

Points to get right

  • Write the amount in figures and words, and make sure they match.
  • Choose one way of payment in clause 1 and delete the others.
  • In some countries a promissory note must carry a revenue stamp or be on stamp paper to be used as evidence. Check the local rule.
  • Keep a record of every payment received against the note.

How to fill it in

  1. Press Open in editor, or download the Word file to fill it in on your computer.
  2. Replace every blank line with your own details, and delete the clauses and choices that do not apply.
  3. Read it through once more as the other party would read it.
  4. In the editor, press Print / PDF to make a PDF, or Word in the File tab to save a Word file.

Before you sign

These templates are general forms written to save time, not legal advice. The law differs from country to country and changes, and a paper about property, money or employment has legal effect. Fill in every blank, delete what does not apply, check the result against the law where you are, and have an important document reviewed by a lawyer before it is signed.

Questions

Questions and answers

Who signs a promissory note?

Only the borrower signs it, because it is the borrower’s promise. Witnesses can sign as well.

Is a promissory note enough for a large loan?

For larger amounts a full loan agreement, signed by both sides and setting out security and default, gives better protection.

Is this promissory note template free?

Yes. You can download it in Word or PDF, or fill it in online and print it, without payment or sign up, and no watermark is added.

Can I edit it online?

Yes. Press Open in editor: the template opens as an ordinary document in your browser. Fill in the blanks, change any clause, then download it as a Word file or a PDF.

Is it valid in my country?

It is written in a general form that is used in many countries, but the law differs from place to place. Check it against the rules where you are, and have an important document reviewed by a lawyer.

Is what I type sent anywhere?

No. What you type stays in your own browser on your device. Nothing is uploaded.

Loans, sales and receipts

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