Demand Promissory Note | Canada

Secure repayment of a loan with this Demand Promissory Note template for Canada.

  • This is a simple form of Promissory Note, which is:
    • payable on demand,
    • accrues interest at a specified rate, and
    • can be prepaid without penalty.
  • You can use this Demand Promissory Note anywhere in Canada.
  • Download the MS Word file, fill in the details and print. Use it as often as you need to.
Document Type: Microsoft Word
Last Updated: 15-September-2025
SKU: 6506
$1.99
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Canada Demand Note with Floating Interest Rate

Demand Note with Floating Interest Rate | Canada

This Demand Promissory Note form is designed to help creditors in Canada document loans and safeguard their rights effectively.

It offers an easy-to-use format that accommodates a floating interest rate, ensuring flexibility and clear terms for both parties.

Interest Rate Calculation

The interest on the loan is calculated based on the current prime lending rate of the lender’s bank. This method ensures that the interest remains competitive and reflects prevailing market conditions.

Prepayment Terms

Borrowers have the option to prepay the loan at any time. Importantly, there are no penalties or premiums associated with early repayment, providing added flexibility for the borrower.

Form Accessibility and Reusability

The form is straightforward to fill out and can be printed for signature, making the documentation process simple and efficient. Users may utilize the form multiple times as needed for different loan arrangements.

Jurisdiction

This template is recognized as a legal form throughout Canada and can be used in any province or territory. For transactions in the Province of Quebec, a French language version of the form may be necessary to comply with local requirements.

How to Obtain the Form

To access the Demand Note form, simply add it to your cart and complete the checkout process. Upon successful transaction, your document will automatically download.

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Picture of Share Pledge Agreement (Loan Security) | Canada

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Under the terms of this Share Pledge Agreement for Canadian lenders, a borrower pledges shares to the lender as security for the loan.

  • The lender will keep possession of the shares until the loan is repaid.
  • The lender has the right to vote the shares and to receive any benefit (such as dividends) from the shares while the shares are being held as security.
  • This legal form can be used in any Canadian province or territory.
  • Download the Canada Share Pledge Agreement (Loan Security) for your loans department.
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Are you loaning money or extending credit facilities to a customer or other party? Document your security interest as a creditor with this Loan Security Forms Package for Canadian lenders.

  • The package contains the following forms:
    • General Security Agreement,
    • Unconditional Guarantee and Postponement of Claim,
    • Promissory Note to be executed by the borrower.
  • Available in MS Word format.
  • Intended to be used only in Canada.
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Purpose of Promissory Note for Interest Only

This Promissory Note template is designed to help secure the repayment of a loan made within Canada. It provides a clear framework for both lenders and borrowers regarding the repayment terms and expectations.

Interest-Only Payment Terms

Under this Note, the borrower is required to make payments that cover only the accrued interest on the loan. No payments toward the principal amount are necessary until the specific date outlined in the Note. This allows the borrower to manage cash flow by deferring principal repayments until a later time.

Schedule of Interest Payments

Interest payments are to be made in arrears, following a regular payment schedule as defined in the terms of the Note. This ensures that the lender receives compensation for the use of their funds over the period of the loan.

Principal Repayment and Prepayment

The principal sum of the loan may be repaid at any time chosen by the borrower, without incurring any penalty or additional fee. This flexibility benefits the borrower, allowing for early repayment if desired.

Format and Availability

This template is provided in Microsoft Word format, making it easy to edit and customize to suit the specific details of your transaction. Users are encouraged to modify the document as necessary to reflect the terms agreed upon by both parties.

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This Promissory Note is intended exclusively for use in Canada.

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  • An indemnity of this type is typically required as an inducement to the lessor ⁄ landlord to sign the lease.
  • If the tenant defaults in its obligations, the indemnifying party agrees to perform those obligations, including paying all rent and other amounts due under the lease.
  • The indemnifying party also indemnifies and saves the landlord harmless against loss, costs or damages suffered by the landlord as a result of such failure.
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  • This is a generic legal form which is not specific to any country, state or province.
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  • The Board of Directors declares the capital dividend on a specific class of shares.
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