CANADA

This Acknowledgement of Payment form confirms that a promissory note has been paid in full.

• This form should be signed by the lender when the full amount of the loan has been paid.
• Available as a free downloadable MS Word document.
• This form is intended for use in Canada.

Write up a Balloon Promissory Note with this easy-to-use template for Canada, which requires collateral as additional security.

• The borrower agrees to make monthly payments against the amount secured by the Note, until the date of the final payment.
• The final payment will be a balloon payment, which is a payment in full of the entire balance of principal and interest outstanding at that date.
• The Note has an additional provision requiring the borrower to put up personal property or real estate as collateral for the loan.
• This digital legal form can be used in any Canadian province or territory.

Add the Balloon Promissory Note form to your shopping cart, check out and download the template immediately after purchase.

Document a loan and protect your rights as a creditor in Canada with this easy-to-use Demand Promissory Note form which provides for floating interest rate.

• Interest is calculated based on the current prime lending rate of the lender's bank.
• The loan can be prepaid at any time without penalty or premium.
• The form can be easily filled in and printed for signature. Use it as many times as you like.
• This a Canadian legal form template that can be used in any part of the country. A French language version may be required for the Province of Quebec.

To get the Demand Note form, add it to your cart and go through the checkout. Once the transaction is processed, you'll be automatically directed to the download page to get your form.

This Installment Promissory Note form is for a loan that is backed by collateral belonging to the borrower.

• The template is for use in Canada only.
• The principal and interest will be repaid by a series of regular fixed (non-variable) installment payments.
• The borrower has the option to prepay the Note, but the lender will charge a prepayment premium (fee) if the loan is paid out before the due date.
• If the borrower defaults in making a payment or becomes bankrupt or insolvent, the entire balance together with interest becomes immediately due and payable.
• If the borrower defaults, the lender has the right to sell the collateral privately or through public auction.

To download the Canada Installment Note with Prepayment Fee, put it in your shopping cart and go through the checkout. You'll be automatically taken to the download page where you can download the form.

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.

Secure the balance payable to the vendor under an asset purchase or rollover agreement with this Promissory Note form for Canadian businesses.

• No interest will accrue on the principal balance prior to default or maturity.
• The full amount outstanding will become due and payable on demand if the purchaser declares bankruptcy, ceases to do business, or otherwise defaults under the terms of the Note.
• The balance may be totally or partially prepaid without bonus or penalty.
• Available in MS Word format.
• Intended to be used only in Canada.

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.

Jurisdiction

This Promissory Note is intended exclusively for use in Canada.

When lending money to a friend or family member in Canada, you may choose not to charge the borrower interest.

Even in these cases, it is important to secure a formal commitment from the borrower to repay the loaned amount. Obtaining a signed Demand Promissory Note for principal only ensures that the borrower is legally obliged to repay the principal.

When and Where to Use the Form

• This type of Promissory Note is most frequently used when the lender and borrower share a close relationship, such as family members.
• This Demand Promissory Note is intended for use within Canada. It is suitable for all provinces and territories except Québec, where a different French-language form may be needed.

Repayment Terms

Because the loan is interest-free, the borrower is required only to return the principal amount borrowed. No interest will accrue on the loan.

Format and Accessibility

The Demand Promissory Note is available as a digital download in MS Word format, making it convenient to use and customize.

Overview of the Grid Note

The downloadable Grid Note, also known as a Term Note, is prepared to secure multiple advances of loan proceeds. This document is suitable for use in various lending scenarios where funds are released in stages rather than as a single lump sum.

When and Where to Use This Form

The Grid Note is structured to cover multiple advances or stages of funding. It is particularly relevant in cases where the lending agreement specifies that loan proceeds will be disbursed in separate instalments over time.

This form of Note is frequently utilized for construction financing. In such contexts, numerous advances of loan proceeds are often required as the project progresses through various phases.

This form can be used across Canada, making it a versatile tool for borrowers and lenders engaged in lending agreements nationwide. A different French-language form may be required in Quebec.

Format and Usability

Provided in MS Word format, the Grid Note is easy to download, fill in with the necessary details, and print for use in your lending transactions.

Overview of the Promissory Note with Collateral Charge on Land

This form of Promissory Note is designed for situations where a lender is providing a substantial loan and requires additional security from the borrower. Intended for use in Canada, this legal document ensures that the borrower's land is pledged as collateral, offering the lender enhanced protection for the repayment of the principal amount.

Key Terms

• Supplementary Security. The collateral charge on the land is established to serve as supplementary security for the lender. The lender holds this charge as a guarantee for the repayment of the principal amount specified in the Promissory Note.
• Interest. Interest on the outstanding balance is calculated at a floating rate. This rate is determined by the current prime lending rate of the lender's chosen bank, ensuring that interest charges are responsive to prevailing market conditions.
• Prepayment Conditions. The borrower has the option to prepay the outstanding balance at any time. There are no penalties, premiums, or additional fees imposed for early repayment of the loan amount, providing flexibility and convenience for the borrower.

Document Format and Usage

This template is available in Microsoft Word format, making it simple to download, complete with your specific details, and print for immediate use.

Governing Law

The Promissory Note with Collateral Charge on Land is governed by Canadian laws and is intended strictly for use within Canada.