[What is a Promissory Note?]

South African 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.


Simply answer the questions below to personalize your Promissory Note

Governing Jurisdiction:

 

Borrower Details:

 

Borrower's Contact Information:

First Borrower's Contact Information:

 

Second Borrower's Contact Information:

 

Lender's Contact Information:

 

Principal Sum:

 

Schedule of Payments:

Due Date:

Installment Dates

Installment Starting Date

Installment Starting Date

 

Nature of Installments:

 

Pre-payment:

 

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.

Aircraft Information

Equipment Information

Vehicle Information

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

Watercraft Information

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

Other Security Information

 

Default by Borrower(s):

 

Additional Clauses:

 

Signatures Required:

Signatures Required:
We highly recommend that your Promissory Note be signed in front of a Notary Public and one or more witnesses.
 

Date of Signing, if known: