Promissory Note Template
PandaTip: This promissory note template is designed to be quick and easy to complete, send, and sign. Simply fill out the tokens to the menu on the right, assign the “Holder” and “Maker” roles in the menu on the right, and hit “send”!
This promissory note is a binding legal document by and between [Holder.Name] (the “Holder”) and [Maker.Name] (the “Maker”). By signing the final page of this promissory note, both parties agree to uphold, enforce, and abide by the terms of this document in it’s entirety.
|Principle Loan Amount||Date of Promissory Note|
PandaTip: Once you’ve sent this template, you’ll receive the promissory note first, and will be prompted to complete the date fields throughout the document. Once you’ve completed and signed the promissory note, it will automatically be sent to the other party in the loan agreement.
Holder, having a physical address of [Holder.Address], agrees to loan the balance indicated above to Maker, having a physical address at [Maker.Address]. Maker agrees to repay this amount, plus interest in the amount of [Interest.Percent]% per month from the date indicated above.
Maker agrees to make periodic payments towards the full amount of the loan plus interest accrued, indicated in the table below:
|Payment Date||Payment Amount|
Holder reserves the right to enforce this promissory note as payable in full in each of the following conditions:
- Failure to make payment by any of the dates in the table above
- Maker’s breach of any other aspect of this promissory note
- Death, incapacitation, or bankruptcy of the Maker
PandaTip: These terms are intentionally simple, but include the text necessary to cover you in the event that you’re not paid in a timely manner. It never hurts to have an attorney review any legal document, though (you can add them as a third recipient and place them second in the signing order!)
Maker agrees to be solely responsible for all costs incurred by Holder in enforcing the terms of this promissory note, including fees from attorneys and collection agencies.
This note is legally binding and non-transferrable by either party without prior written consent by both parties.
This promissory note is the sole agreement governing the loans mentioned. No other statements, promises, or commitments shall be considered valid or enforceable.
This promissory note and the interpretation of its terms shall be governed by and construed in accordance with the laws of the State of [Holder.State] and subject to the exclusive jurisdiction of the federal and state courts located in [Holder.County], [Holder.State].
PandaTip: This template includes PandaDoc’s electronic signature fields, which allow you to sign documents from any computer or mobile device.
IN WITNESS WHEREOF, each of the Parties has executed this Promissory Note, both Parties by its duly authorized officer, as of the day and year set forth below.