No matter the loan, lender, or borrower, it’s always a good idea to put it in writing. Find out the information you need and the fastest, most reliable way to complete a loan contract.
What is a promissory note?
When do you need to use a promissory note?
Different types of promissory notes include business loans, student loans, car loans, and personal loans between friends and family members. You should use them when you lend or borrow large sums because they ensure that both borrowers and lenders understand the details of the loan and consequences for nonpayment. When they contain all of the necessary information and signatures, promissory notes are considered legal documents that protect both parties.
What to include in a promissory note:
Take loan agreements to the cloud with Adobe Sign.
In a globally connected world that moves at internet speed, e-signatures have become the best way to complete contracts. E-signatures are legally binding in most nations, and they can be signed and shared securely almost instantly. To learn more about how e-signatures can help you streamline all of your contract processes and save time and paper, read about German company Meyle+Müller’s successful implementation of Adobe Sign.
With Adobe Sign, borrowers and lenders can use PDFs to e-sign documents securely. Instead of waiting days to complete a contract, you can sign it on any device, wherever you are, and get the deal done in minutes. Get notified when the other party views and signs, and have an instant copy for your records, no stamps or photocopies necessary.