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Promissory Note

A promissory note is a negotiable instrument whereby one party, known as the maker, payer or issuer (“the issuer”), unconditionally promises in writing to pay an agreed monetary sum to another party, known as the recipient or payee (“the payee”), either on demand or at a specified future date.

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You will need the following information to generate your document:

  • Name of issuer and payee
  • Address of issuer and payee
As a member, you can request unlimited legal documents to be drafted or reviewed for your business, including this Promissory Note. Our membership also provides unlimited legal advice consultations, faster turnaround times and ongoing legal support for an affordable monthly fee.
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Promissory Note

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Basic Promissory Note template
Editable Word document that you can print
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30 minute complimentary consultation to discuss any changes to your Promissory Note
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What's included?

The LVDox™ Free Promissory Note is a very simple document, designed for simple situations. It includes an interest clause, and a choice as to whether the Promissory Note will be transferrable or not. A promissory note is not a loan contract, although both relate to borrowing money. The main differences between a loan contract and promissory note are:
  • Both the lender and the borrower sign a loan contract, while only the issuer signs a promissory note;
  • The terms and conditions of a loan contract are generally more detailed than a promissory note, which means that it would generally be appropriate to complete a loan contract in circumstances where compound interest of instalment payments apply.

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