Promissory Note

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Promissory Note

£________ (________)

________

________

(the Promisor)

________


IT IS RECORDED THAT:

The Promisor promises, to repay to: ________

________

(the Lender)

The sum of £________ (________ pounds) received for value on the date of this agreement.

The repayment shall be paid to the Lender by ________ weekly payments of £________ paid on the same day of the week as the day of this note for every week as exampled in Note 1 at the bottom of this note.

Interest shall accrue daily the balance for any time where the balance is outstanding at the rate of 8% a year, such interest to be paid together with the final instalment of principal. In default of any instalment, the whole unpaid balance shall be paid with interest as specified above up to the date of payment whether or not there has been any waiver of any previous instalment.

I have deposited with ________ and pledge to it as security:

________

(the Security)

In default of payment I authorise ________ to sell or dispose of the Security in order to recover the owed costs to itself in the sum of £________ (________ pounds) and interest. Any proceeds of sale in excess of this amount shall be paid to me.

This Promissory Note (and any disputes in relation to it) shall be governed by the jurisdiction of England and Wales.

Note 1

e.g. if this note were dated on a Tuesday, instalments would be due on the Tuesday of each week


Signed by the parties

THE BORROWER:

SIGNATURE:

____________________________
________

DATED:

____________________________



THE LENDER:

Signed for and on behalf of ________, by ________:

________________________________

________

Preview your document

Promissory Note

£________ (________)

________

________

(the Promisor)

________


IT IS RECORDED THAT:

The Promisor promises, to repay to: ________

________

(the Lender)

The sum of £________ (________ pounds) received for value on the date of this agreement.

The repayment shall be paid to the Lender by ________ weekly payments of £________ paid on the same day of the week as the day of this note for every week as exampled in Note 1 at the bottom of this note.

Interest shall accrue daily the balance for any time where the balance is outstanding at the rate of 8% a year, such interest to be paid together with the final instalment of principal. In default of any instalment, the whole unpaid balance shall be paid with interest as specified above up to the date of payment whether or not there has been any waiver of any previous instalment.

I have deposited with ________ and pledge to it as security:

________

(the Security)

In default of payment I authorise ________ to sell or dispose of the Security in order to recover the owed costs to itself in the sum of £________ (________ pounds) and interest. Any proceeds of sale in excess of this amount shall be paid to me.

This Promissory Note (and any disputes in relation to it) shall be governed by the jurisdiction of England and Wales.

Note 1

e.g. if this note were dated on a Tuesday, instalments would be due on the Tuesday of each week


Signed by the parties

THE BORROWER:

SIGNATURE:

____________________________
________

DATED:

____________________________



THE LENDER:

Signed for and on behalf of ________, by ________:

________________________________

________