In this article, we are going to present some promissory note template examples. Each of the items on this list will be accompanied by a short description as to their use, and a link from where you can download them.
Note that all the promissory note template example found in this article are free for use and can be used in more than a single circumstance.
As a reminder, a promissory note is defined as being a written document, in which one party (the borrower) promises to the other party (lender) that he or she will return a sum of money on demand or at a specified date.
1.Simple Promissory Note Template
This is a simple promissory note template that can be printed and signed on the spot. The lender and the borrower, herein named maker and holder, must sign the document in the bottom part, and write their initials on the second page.
In addition, the party who drafts this promissory note must carefully complete the fields referring to the principal and interest installment, to clearly state the amount owned, and to fill in the date when he or she expects to receive the debt.
Furthermore, the maker must also specify how is the promissory note secured: deed of trust, mortgage or another document.
2. Printable Promissory Note Template
Another variation after the first promissory note we have presented. The borrower must fill in the lender’s name, the address of the property, the principal, and the interest.
Furthermore, this promissory note template contains more details instructions on the waiver, obligations, and what happens in the event that the borrower is unable to pay the debt.
At the end of the document, both lender and borrower must sign the document in the presence of witness and a notary. You can download this promissory template example by clicking on the link below.
3.Promissory Note for Moving Expense Advance
This is a promissory note for moving expenses to a later date from the University of Michigan. The borrower (student) can use this note in order to postpone the payment, and promises to cover all expenses at the date specified in the document.
To fill in this promissory note, you will need to supply your personal info, such as first name, last name, middle name, an SSN, UMID, and to write the name of the University’s department to which you submit this document.
The other party must fill in the middle part of this promissory note, and faculty or staff member must sign the document.
4. Promissory Note Template for Alabama Lawyer Assistance Foundation, Inc.
A simple promissory note template drafted by ALAF. The lender needs only to write in the borrowed sum of money and the date in which it must be paid. In the end, the document must be signed by the promisor.
In addition, two witnesses must also sign this promissory note. Furthermore, the borrower is required to write in his address and social security number.
5. Simple Interest Only Promissory Note
For this simple interest only promissory note, the lender must fill in the sum of money owned in the upper left corner and the date in the right corner.
As for the borrower, he must write in his name, the name of the lender, sum of money owned (expressed in US dollars in this case) and the day of payment.
The lender must be careful to write in the rate of interest. In the end, the borrower will sign and date the document.
6. Promissory Note (New Jersey Department of Agriculture)
This is another example of a simple promissory note, drafted by the New Jersey Department of Agriculture. In this case, the borrower must indicate the type of loan he or she has contracted, county, date or purchase, and the amount owned.
The document specifies the rate of interest per year, as well as the penalties, should the lender fail to pay the amount owned until the promised date.
To be valid, the borrower must sign and date this document. In the event that the borrower is a minor, this document will be signed by both parents or guardians.
7. Extended Promissory Note
This is the unabridged version of a promissory note, containing sections to cover each type of circumstance that may arise.
Apart from filling in the appropriate sections containing basic info and amount owned, the borrower and the lender must be careful to fill in the sections regarding securities, late charge, default, and remedies.
For this promissory note to go into effect, two witnesses must be present. They will need to write their names, address, and to provide a signature. The borrower must also write his name on the document.
8. Promissory Note
This two-paged promissory note template can be adjusted nearly to every circumstance.
As in the case of all promissory note templates we’ve presented so far, the main section remain unchanged. However, for this document to take effect,the \ witness, the borrower, and a notary must sign it. Furthermore,this document requires a countersignature guarantee its effectiveness.
9. Non-Negotiable Promissory Note
Here is an example of a non-negotiable promissory note, drafted between a student (maker) and the Marylhurst University. By signing this document, the maker promises to return the specified sum of money until a certain due date.
Failure to do this will determine the holder of the contract to charge the maker’s credit card number until the debt is paid.
10. Promissory Note for Cash Advance
With this promissory note, the maker (student) can request cash in advance from the faculty in order to be used for specific purposes. In addition, he promises to return the amount borrowed at the date specified in the contract.
To be valid,the requestor, the Dean, and the Office of Finance must sign this document.
The promissory note template can take many shapes, but, in essence, it remains unchanged.
Remember that whatever form it may take, and regardless of the nature of rapport between lender and borrower, every promissory note must contain the amount borrowed, return date,an the rate of interest.The promissory note should also specify what happens in the event that the borrower is unable to fulfill his or her contractual obligations.
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