Promissory Note Template
This promissory note is a binding legal document by and between [Client.FirstName][Client.LastName] (the “Holder”) and [Sender.FirstName][Sender.LastName] (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 its entirety.
|Principle Loan Amount||Date of Promissory Note|
|$ Loan Amount|||
Holder, having a physical address of [Client.StreetAddress], agrees to loan the balance indicated above to Maker, having a physical address at [Sender.StreetAddress]. 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|
|||Payment 1 Amount|
|||Payment 2 Amount|
|||Payment 3 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
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 nontransferable 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 [Client.State] and subject to the exclusive jurisdiction of the federal and state courts located in [Client.Country], [Client.State].
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.