Promissory Note (United Kingdom) template free sample

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United Kingdom Promissory Note

United Kingdom Promissory Note


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United Kingdom Promissory Note

[What is a Promissory Note?]

Simply answer the questions below to personalize your Promissory Note

A Promissory Note, or loan agreement, is used to record that one party promises to pay a sum of money to another party at a later date. This obligation usually results from a loan to the promising party. Creating a Promissory Note or loan agreement is often recommended for tax and record-keeping reasons. This form is also known as: loan agreement, secured loan agreement, demand note.

This document is accurate and up to date! It was last reviewed by a lawyer in February 2012.


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Governing Jurisdiction:

This document will be governed by the laws of which nation?
(Usually the residence of the Lender)
Select a State:
Select a Province or Territory:
Select a State / Territory:
Select a Country:
Select a Region:
Select a State or Union Territory:
Select a State or District:
Select a State:
Select a State:
 

Borrower Details:

How many Borrowers are there?
 

Borrower's Contact Information:

First Borrower's Contact Information:

Full Name:
Address Line 1:
Address Line 2: (optional)
Is this Borrower a corporation?
Yes No
 

Second Borrower's Contact Information:

Full Name:
Address Line 1:
Address Line 2: (optional)
Is this Borrower a corporation?
Yes No
 

Lender's Contact Information:

Full Name:
Address Line 1:
Address Line 2 (optional):
 

Principal Sum:

How much is being borrowed (e.g. 20,000.00)?
Select the currency:
Enter the currency (e.g. Euros (EUR))
Will this loan be subject to interest?
Yes No
Enter the interest rate, in percentage (e.g. 10.0):
The interest will be compounded:
 

Schedule of Payments:

Will payment be due when the Lender demands?
Yes No
Payment must be received within how many days of demand?
Will payment be in a lump sum?
Yes No
How often will installments be paid?
Which day of the week will payment be due?
Which day of the month will payment be due (e.g. first)?

Due Date:

Month:
Day of Month:
Year:

Installment Dates

How often will installments be paid?
Which day of the week will payment be due?
Which day of the month will payment be due (e.g. first)?
How many installments will there be?
When will payment of installments begin?
When will payment of installments begin?

Installment Starting Date

Month:
Day of Month:
Year:

Installment Starting Date

Month:
Day of Month:
Year:
 

Nature of Installments:

Payments will consist of:
Payments will consist of:
How much will each installment be (e.g. 50.00)?
How much will each installment be (e.g. 60.00)?
 

Pre-payment:

Are the Borrower(s) allowed to pay off the loan early?
Yes No
 

Security:

Security:
You may wish to add a security to the loan. The lender can take the security if the borrower fails to repay the loan.
Will this loan have a security/collateral?
Yes No
Select the type of security:

Aircraft Information

Make (e.g. Boeing):
Model (e.g. 737):
Style (e.g. Helicopter):
Year:
Serial Number:
Registration Number:

Equipment Information

Please enter a detailed description of the equipment:
Serial Number:

Vehicle Information

Make (e.g. Toyota):
Model (e.g. Camry):
Style (e.g. Four-door sedan):
Year:
Vehicle Identification Number (VIN):

You can usually find the VIN on the base of the windshield, or on the vehicle's title.

Watercraft Information

Make (e.g Seadoo):
Model (e.g. GTX):
Style:
Length:
Year:
Hull Identification Number (HIN):

The HIN is usually on the right side of the water craft's transom (back).

Other Security Information

Please enter a detailed description of the security:
Is the Lender selling the security to the Borrower(s)?
Yes No
Prior to full repayment of the loan, title to the security will be:
 

Default by Borrower(s):

Will Borrower(s) be charged interest if payment is late?
Yes No
Enter interest rate, in percentage per year (e.g. 7.5):
 

Additional Clauses:

Do you wish to add any additional clauses?
Yes No
How many additional clauses do you wish to add?
First extra clause:
Second extra clause:
Third extra clause:
Fourth extra clause:
Fifth extra clause:
 

Signatures Required:

Signatures Required:
We highly recommend that your Promissory Note be signed in front of a Notary Public and one or more witnesses.
Will a notary public be present?
Yes No
How many witnesses will be present?
 

Date of Signing, if known:

Do you know when you will be signing the agreement?
Yes No
Month:
Day of Month:
Year: