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Promissory Note Template
What is a promissory note?
A promissory note is a written promise by a borrower to pay a set sum to a lender, on demand or by a set date, with or without interest.
When you need one
- Simple personal or business loans
Key clauses included
- Principal and interest
- Payment terms
- Late fees
- Default and acceleration
- Signatures
What the template covers
- Interest
- Payment
- Prepayment
- Late Charge
- Default and Acceleration
- Collection Costs
- Waiver
- Governing Law
How to use it
- Buy and download the editable Word file.
- Fill in the brackets: names, dates, fees, scope and governing law. Delete options that don't apply.
- Check it against local law, and have a lawyer review it for high-value deals.
- Sign it on paper or with any e-signature tool.
Frequently asked questions
What format is the template in?
You get an editable Microsoft Word (.docx) file that also opens in Google Docs, Pages and LibreOffice.
Can I use this template in my country?
The templates are written for international use with placeholders for governing law and local details. Contract law differs between countries and states, so check the final document against local law, especially for employment and consumer contracts.
Is this legal advice?
No. A template is a starting point, not advice on your situation. For high-value or unusual deals, have a lawyer review the completed document.
How do I receive the file?
Right after payment you are taken to a download page, and PayPal emails you a receipt. Keep the download page link to download the file again.
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