FREE SIMPLE PROMISSORY NOTE Printable IOU Blank Letter
A simple promissory note is a brief document written in simpler terms between two people over a loan or transaction.
Thinking about bailing out family or friends?
With the economy the way it is right now many of us have been asked by family members and friends for loans. When the "I'll pay you back on Friday" does not happen, having a signed loan contract can improve the chances of getting your money back.
A promissory letter or IOU is a written promise made by the borrower to the creditor to pay a certain amount of money on a specific date.
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.
PRINCIPAL AMOUNT: $ ____________________ DUE DATE: ___________,_____ of 20___.
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: __________________________________________________.
DISCLAIMER: The law will vary depending on your state and the specifics of your case. The information provided by USAttorneyLegalServices.com is intended for educational purposes only. All the content on this website should NOT be considered professional legal advice or a substitute for professional legal advice. For such services, we recommend getting a free initial consultation by a licensed Attorney in your state.