Promissory Note

Promissory Note :

PROMISSORY NOTE - Installment Note - Short Form

FOR VALUE RECEIVED, the undersigned jointly and severally promise to pay to the order of (NAME) the sum of (AMOUNT), together with interest thereon at the rate of 12% per annum on any unpaid balance.

Said sum, inclusive of interest, shall be paid in 30 [monthly/weekly] installments of $1200 each, with a first payment due (DATE) and a like amount on the same day of each [month/week] thereafter until the full amount of this note and accrued interest shall be fully paid. All payments shall be first applied to accrued interest and the balance to principal. The undersigned reserves the right to pre-pay this note in whole or in part without penalty.

This note shall be fully payable upon demand of any holder in the event the undersigned shall default in making any payments due under this note within 15 days of its due date.

In the event of any default, the undersigned agreed to pay all reasonable attorney fees and costs of collection to the extent permitted by law. This note shall take effect as a sealed instrument and be enforced in accordance with the laws of the payee's state.

Signature :

Name :


This is a typical letter. You have to add your company's name with full address. And the receiver's name and full address also should be added in the place allotted for that purpose. Without those primary details no letter carries any significance. So, you are requested to provide all those important details. Failing which the letter will make a wrong impression about your company and you among the receivers of your letters. This is the most unwanted attitude on your side in dealing with the clients who are the most valued assets of any business organisation. If necessary, leave those spaces blank.

Promissory Note

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