» » » Georgia Unsecured Promissory Note Template

Georgia Unsecured Promissory Note Template

Create a high quality document online now!

The Georgia unsecured promissory note is a document created to help two parties come to an agreement on the terms and conditions of a loan as well as ensure the loaned balance is reimbursed to the lender in the transaction. Because this note is unsecured, the lender has very little financial protection as there is no security for the lender to claim in the event of a default. The lender would have to resort to bringing the borrower to small claims court and/or reporting the default to the borrower’s credit. Because of this, the lender should ensure the borrower is a stable and trustworthy individual.

How to Write

Step 1 – Enter the names and addresses of the lender and borrower as well as the full balance being loaned and its associated interest rate.

Step 2 – Select the payment method the borrower will be required to follow. The options range from No Installments (one full payment at a certain date) to Installments (monthly or weekly payments on the balance), to Interest Only Payments (monthly or weekly payments of interest until the balance is fully paid for).

If a payment option that uses installments is selected, look at the bottom of the first section and select either weekly or monthly payments.

Step 3 – In section two (2), enter the final due date for the balance.

Step 4 – Proceeding to section six (6), enter all the required details regarding late fees.

Step 5 – For section seven (7), enter the number of days required to pass before the lender can issue an acceleration.

To finalize the agreement and put it into effect, enter the date on the last page and have the printed names and signatures of the lender, the borrower, and the witness be written in their designated areas.


ABOUT SSL CERTIFICATES