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If you are a lending or borrowing money use this promissory note to create an unconditional promise to have all debts repaid. Creating a legally binding promissory note means you can feel protected and assured as you have recorded the transaction and set out repayment terms . This promissory note will help you outline all the specific terms regarding the repayment, from the parties involved, to the date of repayment and even whether interest is payable.

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Use this promissory note:

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This promissory note covers

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Further advice

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Ask a lawyer for:

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Promissory Note - Free Promissory Note Template

Overview of the Promissory note

If you are a lending or borrowing money use this promissory note to create an unconditional promise to have all debts repaid. Creating a legally binding promissory note means you can feel protected and assured as you have recorded the transaction and set out repayment terms . This promissory note will help you outline all the specific terms regarding the repayment, from the parties involved, to the date of repayment and even whether interest is payable.

Use this promissory note:

  • when someone or an organisation owes money as a result of a business transaction
  • when you want to create a legally enforceable contract for repayment of a sum of money (a debt)
  • when you know who or what organisation owes the money
  • when the amount to be repaid is certain and the time scale for payment has a fixed start and end date

This promissory note covers

  • the parties to the note
  • the amount to be repaid (the debt)
  • the date by which the debt is to be repaid
  • whether interest is payable and if so how much
  • other terms and conditions used in contracts for loans

Further advice

Ask a lawyer for:

  • debt recovery procedures
  • advice on recovering debt for organisations based outside England and Wales
  • advice if you intend to enter into loan agreements with individuals or small businesses more than merely occasionally, as you may need a credit licence

Sample Promissory note

More than just a Promissory note template, our step-by-step interview and guidance makes it easy to create your document.

Easily create online, download, print and sign your free Promissory note in minutes.

This document is also sometimes called: Promissory note form and Note payable form.