Promissory Note Template in Word

For every business operation, it’s certainly risky to settle on the nonverbal agreements. There will always be tendencies of trickery, misunderstanding, or deceit. Remember, luck doesn’t always come after you, and it’s not every day that you meet sincere clients. So to avoid this problematic situation, we got you covered with the right solution! We have high-quality and professionally written Promissory Note Templates in Microsoft Word. You’ll have a template that is 100% customizable and available in A4 and US letter sizes. So, download our templates today and avoid taking any risk. Start building a concise foundation that protects you and your business from any mishap. 

How to Create Promissory Note Templates in Word

A promissory note refers to a legal document that covers the agreed statements that the borrower promises to pay the lender a certain amount of money in the future. It contains essential details, such as the terms and conditions, interest rates, payment dates, and the names of the lender and borrower. It is vital to building trust that is always necessary for a better company-and-client relationship.

But do you need it for your business loan? Loaning money has to go through a legal agreement procedure. Lenders make sure that borrowers follow and respect their policies accordingly. So, parties involved must agree on a written contract. There are certain risks of unsecured promissory notes. But with a legal document, the advantages of promissory note creates an opportunity for businesses and investments to grow. 

To create a promissory note in Microsoft Word, we will help you with it. Below are the steps on how you can go through the process of making one. 

1.Set an Objective 

Knowing your purpose in writing a promissory note should always come first. As agreements have different uses, such as in businesses and schools, it will be difficult to write coherently without understanding your purpose. To avoid cluttered word structure, make sure to gather enough information, and know the purpose of writing. So, if you are writing for your lending business, avoid using slang words. 

2. Input the Terms

There are different ways of writing a promissory note. You can either open a Microsoft Word document and start jotting down the terms or insert the letterhead first. But we suggest you input the terms first before adding elements to determine how much space you’ll need. 

3. Write Customer Details 

After writing the terms and conditions, make sure that you don’t forget to write the date, the client’s name, contact number, and address. Ensure to leave spaces for the witness and the client’s signature. The agreement between the two parties must be signed accordingly. Signatures are always an essential element in every contract to secure the validity of claims. But more than that, make sure to observe proper spellings of names. 

4. Avoid Designs

When writing a formal letter, it’s important to avoid inserting too much design elements. Make it minimal. Limit the design elements with the logo alone. Create a simple agreement that allows your client to understand easily—format the text, spacing, capitalization, color, and more. So, make sure to use the right typeface for legal documents. If you’re doubtful, use Arial and Tahoma instead. 

5. Proofread and Revise

Remember, you’re writing a legal paper. So, before printing it, make sure that you proofread every detail. Don't forget to make the necessary revisions. Check if you have both names spelled correctly, or else, it could mean invalidity of the contract agreement. Secure that the agreed amount, interest rates, and repayment dates are written clearly and correctly. Once revised, print the promissory note and have both parties sign the document.