Unsecured Promissory Note Template

Disclaimer

This document serves as a formal written promise to repay a specified amount of money on agreed terms. It is provided solely as an example for informational purposes and does not constitute legal, financial, or professional advice. The terms and enforceability may vary depending on jurisdiction, and users should seek qualified legal counsel or financial advice before using or customizing this document. The creator assumes no liability for any errors, omissions, or consequences arising from reliance on or improper use of this template without appropriate professional review.

This sample Unsecured Promissory Note template may vary slightly depending on specific circumstances. Please adapt the details as needed for your situation.

Unsecured Promissory Note Sample

Parties Involved:

Lender: Alice Johnson
Address: 789 Oak Street, Los Angeles, CA 90001

Borrower: Robert Lee
Address: 321 Maple Avenue, Los Angeles, CA 90002

Loan Amount and Terms:

The borrower promises to pay the lender the principal sum of $5,000, with interest at an annual rate of 5%, payable in monthly installments of $250, beginning on __________________ and ending on __________________. Payment shall be made via check, electronic transfer, or other mutually agreed method.

Repayment Schedule:

The borrower shall make payments on the first day of each month until the full repayment of the loan. Early repayment is permitted without penalty.

Unsecured Nature:

This loan is unsecured, and no collateral is required or held by the lender. The borrower acknowledges this and agrees to repayment terms accordingly.

Default:

In the event of default, the unpaid balance shall accrue interest at legal rates, and the lender may pursue legal remedies to recover owed amounts.

Governing Law:

This note shall be governed by the laws of the State of California. Any disputes shall be resolved within the jurisdiction of Los Angeles courts.

Additional Terms:

• The borrower shall not transfer or assign this note without prior written consent from the lender.
• The borrower agrees to provide updated contact information upon request.
• Amendments to this note must be in writing and signed by both parties.

Los Angeles, ______________________