Promissory notes are one the many financial instruments available in the market.
Promissory note template free. He is also the maker of the promissory note. Secured promissory note template free. There are 2 types of promissory notes secured and unsecured.
Free promissory note templates. The time period for repayment may be definitive or at lenders demand. A promissory note is a financial statement and instrument containing a written commitment by one party the issuer or the maker of the note to pay a definite amount of cash to another party the payee of the note either on request or at a defined future date.
Your promissory note may be between you and another individual or company as a standalone document. Here are 15 free promissory note templates that anyone can download to prepare his her own promissory note easily. Mention the payer or debtor to whom the money is given.
A secured promissory note template free word doc comes with a collateral clause. One can use promissory note template word when giving away money to a family member or any other person for short period of time. Mention the payee or creditor of the promissory note which is the person who lends the money to the borrower.
A promissory note is a written promise issued by a borrower to a lender stating that the borrower will pay the stated amount of money at a later date. A promissory note can be defined as it name refer is an instrument which serve like a written promise well in financial procedures of companies such note may generate as a component which contains a written promise along with a definite sum of money. Please let me know how you see my effort in putting up this word template here obviously through comments.
Therefore to help business owners save time promissory note templates are available on the web for free. A promissory note or promise to pay is a note that details money borrowed from a lender and the repayment structure the document holds the borrower accountable for paying back the money plus interest if any. What is a promissory note.
Promissory notes are negotiable instruments that are saleable and unconditional and are used in business transactions around the world. The borrower can suggest any of his valuable assets like car or house as the collateral. I have used my favorite slight black background reversed text in first template to make it distinctive in printing.
If you want to make your own promissory note template then make sure to include the following general information in it. Download free promissory note templates. In this legal document one party promises to pay another involved party specific sum of money on mentioned time date or on demand.