Unsecured Promissory Note Template

Unsecured Promissory Note Template. It, however, has the added benefit of attaching some collateral which may be withheld in the event that the borrower defaults on the loan repayment. The types are unsecured promissory notes and secured promissory notes.

A promissory note template word doc is usually followed to format a legal agreement between a lender and debtor. All the template for the promissory note form or sample is available in both the formatted document and PDF. A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financial instrument and a debt instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee).

An unsecured promissory note has several parts and headings.

A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financial instrument and a debt instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee).

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The formatting will change when printed or viewed on a desktop computer. A secured promissory note is not so different from the unsecured counterpart. A promissory note is a document that a borrower signs to promise to repay a loan.