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Promissory Note Sample Philippines (Free Download) To save you the hassle of writing a promissory note from scratch, you may download the following samples and edit the contents based on your agreement with the other party. 1. Simple Promissory Note (With No Conditions) 2. Notarized Promissory Note (With the Condition to Pay Monthly Interest) 3.
Promissory Note. Php50,000.00 January 5, 2014. FOR VALUE RECEIVED, I promise to pay to the order of ANNA CURTIES, the sum of FIFTY THOUSAND PESOS (Php50,000.00) Philippine Currency, in TEN (10) equal monthly installments of FIVE THOUSAND PESOS (Php5,000.00) starting February 5, 2014 and every 5th day of the month thereafter until fully paid.
What is a Promissory Note? A Promissory Note is an unconditional promise in writing made by one person (the "maker") in favor of another (the "payee") that the maker will pay an amount of money at a specified date.
A Promissory Note is a legal document in the Philippines whereupon the Maker makes a formal acknowledgement of an obligation to pay and is only extinguished upon full payment. If a borrower fails to pay, the lender may reposes any collateral put up or may file a civil case in court against the maker of the note.
May 19, 2017 · A promissory note, sometimes referred to as a note payable, is a legal instrument, in which one party promises in writing to pay a determinate sum of money to the other, either at a fixed or determinable future time or on demand of the payee, under specific terms and conditions.
PROMISSORY NOTE _____ For value received, I hereby unconditionally promise to pay _____ the principal amount of _____ (₱_____) on or before _____. All payments shall be made at: _____ I also promise to pay, at the aforesaid address, monthly interest of _____ Per Cent (_____ %).
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.
