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.
Promissory note word template. One can use promissory note template word when giving away money to a family member or any other person for short period of time. Download free promissory note templates. These word templates are useful when parties involving in a loan transaction don t know how to document it for later use or reference.
What is a promissory note. It contains essential details such as the terms and conditions interest rates payment dates and the names of the lender and borrower. 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.
Although there are certain items that the promissory note must necessarily contain. 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. For official documents please consult to your attorney as well.
Here are 15 free promissory note templates that anyone can download to prepare his her own promissory note easily. There are 2 types of promissory notes secured and unsecured. In this legal document one party promises to pay another involved party specific sum of money on mentioned time date or on demand.
In this regard a promissory note meets all the elements of a. A promissory note refers to a legal document that covers the agreed statements that the borrower promises to pay the lender a certain amount of money in the future. How do you write a promissory note.
How to create promissory note templates in word. These conditions must be addressed in the promissory note and thereafter signed by the parties involved. Your promissory note may be between you and another individual or company as a standalone document.
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.