The promissory note template is a written, signed and unconditional order to pay a certain sum of money at a specified time on demand. It can be simply stated as a promise that is used in business dealings. The promissory note template is a written contract between the payer and the lender, with specific terms and conditions on which an amount is paid from one party to another party. As far as the categories of a promissory note are concerned, this document can be of two types; unsecured and secured. An unsecured promissory note doesn’t include any liability in the payment process. The amount of loan is agreed, which is determined by the maker’s ability to pay. On the other hand, the secured promissory note may also be signed based on the maker’s ability to repay, but it is secured by a thing of value, such as a car or a house.
What Makes Promissory Note Template Different?
There are several crucial points which make the promissory note template more appealing and different as compared to other online available templates and these are given below;
1- The promissory note template is prepared using standard content and layout. The purpose of using standard content and layout is to help users to insert their data in this format.
2- This note template is designed in MS Word, which is very easy and common software to use. The Microsoft Office software provides multiple options which any user can use for editing and redesigning its next template. This way, they can increase the value of work and enable readers to understand the message correctly and completely.
3- Promissory note templates are provided on this page, and are free for downloading. To download them, you do not need to get a membership or subscription. All you need is to click on the download button which is provided underneath the template’s image.
