FREE SIMPLE PROMISSORY NOTE
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Thinking about bailing out family or friends?Below you'll find a Simple Promissory Note sample. It's also a Promise to Pay Letter or Printable IOU. Just copy and paste to your word processor, making the changes and corrections necessary.
IMPORTANT: Consult a licensed attorney near you for a more detailed document tailored for your specific needs. It'll have a better chance of holding up in court in case of legal dispute.
On this _______ day of _______________ in the year two thousand and ___________, I, __________________________________ (Borrower’s name) promise to pay to the order of ____________________________________ (Payee’s name) resident of ______________ ________________________________________ City: _____________________________, State: _____ Zip :________ OR its HOLDER to the amount of: ______________________________________ DOLLARS. Interest at the yearly rate of _____% will be added to the unpaid balance. A late charge of $_____________ Dollars will be added to the principal if payment is not made within _____ days of the due date. Payable on: __________________ (city) - _____________ (state) Witness’ name and address: __________________________________________________. ___________________________________ Borrower’s name: ________________________________________ __________________________________ Date: ____ / ____ / ____ PROMISSORY NOTE
PRINCIPAL AMOUNT: $ ____________________ DUE DATE: ___________,_____ of 20___.
Witness’ signature
Address: _______________________________________________
City: ________________________, State: _____ Zip:__________
(Borrower’s Signature)
Sample Promissory Note - Long Version
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