Updated April 08, 2022
A Florida unsecured promissory note is used for transactions that involve the loaning of money between two parties. The agreement helps ensure the lender receives his or her interest revenue and gets reimbursed for the full balance. Both the lender and borrower need to agree on the various sections of the agreement before it can go into effect. Because this note is unsecured, it does not guarantee the lender reimbursement if the borrower defaults on the balance. Because of this, the lender should lend to those that can be fully trusted.