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Promissory Note - Template, Sample Form to Fill out

✓ Designed for use in Philippines

Create your Promissory Note for use in Philippines. Answer a few plain-English questions and the document fills in automatically as you go - then download it in Word and PDF, ready to sign or share.

  • Answer 34 simple questions - the document fills in as you go
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  • Edit your answers and re-download anytime

How it works

  1. 1Answer a few simple questions
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  3. 3Pay once - download in Word & PDF

Below you can preview the Promissory Note, complete it by answering a few plain-English questions, and download a ready-to-sign copy in Word and PDF - tailored for use in Philippines.

What the Promissory Note includes

This template is organised into the following sections:

Frequently asked questions

What is a Promissory Note?

A Promissory Note is a ready-to-use legal template for Philippines. You complete it by answering a few plain-English questions, then download the finished document in Word and PDF.

What does the Promissory Note cover?

The Promissory Note is organised into sections covering § 1. Promise to Pay, § 2. Place of Payment, § 3. Interest, § 4. Penalty Charges, § 5. Attorney’s Fees and Costs of Collection, so the important points are captured in a clear, consistent structure.

What formats can I download?

You can download your completed Promissory Note as an editable Microsoft Word (.docx) file and as a PDF.

Can I edit the document later?

Yes - save it to your account and you can re-open, edit and re-download it at any time.

Is a Promissory Note legally binding?

Once it is properly completed and signed by everyone involved, a Promissory Note is generally legally binding in Philippines, provided it meets the legal requirements that apply to this type of document.

What laws apply to a Promissory Note in Philippines?

A Promissory Note should comply with the laws in force in Philippines. This template is built around the provisions such situations commonly require, but the rules can vary by region and change over time, so check the current requirements for your case.

Do I need a lawyer to use a Promissory Note?

For most standard situations you can complete the Promissory Note yourself using the guided questionnaire. For high-value, unusual or high-risk matters, it is sensible to have a qualified lawyer review the finished document.

How do I sign the Promissory Note?

Download the completed Promissory Note as Word or PDF and sign it as required in Philippines. Depending on the document this may involve a handwritten or electronic signature, and some documents also need witnesses.

Is the Promissory Note free?

You can preview the Promissory Note and fill it in for free. A one-time fee applies only when you download the finished, ready-to-sign document in Word and PDF.

How long does it take to complete a Promissory Note?

Most people finish the Promissory Note in just a few minutes by answering the plain-English questions. You can save your progress and come back to it at any time.

Prepared and reviewed by the LegalDocs team.

Document preview

PROMISSORY NOTE

________

KNOW ALL MEN BY THESE PRESENTS:

This Promissory Note (the “Note”) is executed by ________, of legal age, Filipino, with residence and postal address at ________ and bearing Tax Identification Number ________ (the “Maker”), in favor of ________, of legal age, Filipino, with residence and postal address at ________ (the “Payee”).

§ 1. Promise to Pay. FOR VALUE RECEIVED, the Maker hereby unconditionally and irrevocably promises to pay the Payee, or order, the principal sum of ________ PESOS (₱________), Philippine currency, on or before ________.

§ 2. Place of Payment. All payments under this Note, whether for principal, interest, penalties or other charges, shall be made at:

________

or at such other place as the Payee may designate in writing.

§ 3. Interest. The Maker further promises to pay, at the aforesaid place of payment, interest on the outstanding principal amount at the rate of ________ PER CENT (________%) per month. Interest shall accrue from the date hereof and shall be computed on the basis of a thirty (30)-day month for the actual number of days elapsed. The parties expressly stipulate that the foregoing rate of interest is freely agreed upon in writing in accordance with Article 1956 of the Civil Code of the Philippines, and that the same is not unconscionable, iniquitous or contrary to morals, good customs or public policy.

§ 4. Penalty Charges. In case of default in the payment of the principal amount or any interest due thereon, the Maker agrees to pay, by way of liquidated damages and as a penalty clause under Articles 1226 and 2226 of the Civil Code of the Philippines, an additional sum equivalent to ________ PER CENT (________%) per month, computed from the date of default until the full amount due is paid.

§ 5. Attorney’s Fees and Costs of Collection. Should this Note be referred to a lawyer or collection agency for collection, the Maker further agrees to pay attorney’s fees equivalent to ________ PER CENT (________%) of the total amount due, but in no case less than ________ PESOS (₱________), plus costs of suit and all other reasonable expenses of collection.

§ 7. Application of Payments. All payments received shall be applied first to penalties and charges, then to accrued interest, and finally to the outstanding principal, in accordance with Articles 1252 to 1254 of the Civil Code of the Philippines.

§ 9. Venue. Any action arising from or in connection with this Note shall be brought exclusively before the proper courts of ________, to the exclusion of all other venues.

§ 10. Governing Law. This Note shall be governed by and construed in accordance with the laws of the Republic of the Philippines.

§ 11. Severability. Should any provision of this Note be declared invalid or unenforceable, the remaining provisions shall continue in full force and effect.

IN WITNESS WHEREOF, the Maker has signed this Promissory Note on this ________ day of ________, at ________, Philippines.



________
Maker

SIGNED IN THE PRESENCE OF:


________        ________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )
________ ) S.S.

BEFORE ME, a Notary Public for and in the above jurisdiction, on this ________ day of ________, personally appeared ________, who proved to me his/her identity through the competent evidence of identity described as ________, known to me and to me known to be the same person who executed the foregoing Promissory Note, and who acknowledged to me that the same is his/her free and voluntary act and deed.

WITNESS MY HAND AND SEAL on the date and at the place first above written.



______________________________
NOTARY PUBLIC

Doc. No. ________;
Page No. ________;
Book No. ________;
Series of ________.

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Fields you complete are inserted into the document live. This template is general guidance only - not legal advice.