A promissory note template is a ready to use format by which the promisor agrees to repay a loan or a debt to the promisee. It consists of details related to terms and conditions to be obliged by both the parties. Any promissory note must stress on the payment details and the time space clearly.

Sample Promissory Note Template:

The promissory note is made between [Name of promisor] hereafter referred to as PROMISOR and [Name of promisee] hereafter referred to as PROMISEE.

Agreement is made on [day], [month] and [year] at [location of signing].

Promiser:

Address: [address of promisor]

Phone: [contact number of promisor]

Promisee:

Address: [address of promisee]

Phone: {contact number of promisee]

Mode of payment: [cash/credit card]

Location of payment: [address of the location where the payments will be made]

Effective Date of payment: [day], [month] and [year]

Terms and conditions:

  • The promisor shall pay the amount on the specified date.
  • An additional amount of $[amount] will be charged in case the payment is received [no. of days] late from the specified date.
  • All payments must be made in cash/credit card whichever is mentioned in the contract as per convenience of the promisor.
  • This is a legally binding document and any breach or deviation shall result in legal implications.
  • The promisee must ask for a copy of this document and must retain it till the expiration of the note.

Signed and accepted:

[Signatures of the promisor and promise]

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