Through the following guide we will teach you how to write a letter for a promissory note or promise to pay – Examples of models . For these types of informal documents there is no standard, so you can take your liberties, but it is best to have a guide.
Next, we will talk about loans and the promise to pay them, therefore, knowing the requirements to apply for loans online with banks can be helpful. Let’s continue with this guide to properly draft a promissory note .
What you should consider to make a promissory note or promise to pay
As with making a letter of request , there is no standard for making a promissory note or promise to pay, however, there are certain criteria that must be taken into account. The first of them is that both the debtor and the creditor will have witnesses who must appear in the document .
Next, we will comment step by step on the parameters to be taken into account when writing a promise to pay.
Parameters for drafting a promissory note or promise to pay
- The first step is to present yourself, for this you must then enter the name of the debtor in turn, his identification number. Immediately after this, the condition must be indicated, that is, the condition of debtor.
- It is also recommended to include the name of your company (the debtor’s company ). Immediately after this, the payment commitment must be indicated. In the event of any delay related to payment, the causes should be discussed.
- The following is to indicate the modalities with which the payment will be made . For example, if installments mode will be performed, indicate the installments and the total period for making the payment. It should be indicated in detail and emphasizing compliance with these parameters.
- The information on the payment methods must include dates and amounts to which the debtor agrees to pay.
- As a final aspect of the writing of the promissory note or promise to pay, it is highly recommended to reaffirm the commitment that is made in relation to the debt. You must bear in mind that all this is tied to the law and it will depend on your nation what is expressed.
- Remember that the writing is free, but the main criterion is to include certain aspects such as those mentioned above. The most important thing is to write everything in a respectful and understandable way.
On the other hand, if you need to write another important document such as writing a dismissal letter in Word , you should know that although you can also take liberties, you must take certain things into consideration.
How to write a letter for a promissory note or promise to pay – Sample templates
The following is a template that you can use to make your own promissory note. You can copy and paste the following model , clearly changing the name of those involved and add the title and space for signatures as we show you in the image below.
“I, Augusto Cifuentes, bearer of the identity card 10,455,220, as a debtor and worker of the Carro Motors company, undertake to pay the debt before Mr. Roberto Rodríguez. For reasons of force majeure I have incurred a delay in relation to payment.
The debt whose total represents $ 1950 granted by the creditor in cash, will be paid as follows: two installments of $ 1121, which include the $ 292 from the previously established interest. The payment of each installment will be made in a period of 12 months from the date of this document and each installment will be canceled on the 15th of each of these months.
I write this document aware that failure to pay the debt can have legal repercussions. Given this, I promise to make the payment in the established times and in advance I apologize for the previous delays. ”
The above is just one of the many possible models to make a promise of payment. Clearly, you must adapt the model shown above according to the statutes established in your debt, something that also happens when writing a letter of resignation , but you can take your own licenses if you want to say something else.
