Lending sounds like an excellent deal, but there must be rules to govern this activity, rules acceptable between you and the borrower. Even if you think that you will not need strict rules, you will still need to make an agreement between you and the buyer. A word, excel or pdf blank promissory note will thus be of good help here. A secured promissory note will ensure that you and the lender remain in good terms before lending, after lending, before repayment and after repayment.
You should use a language that is clear and easy to understand. If possible, compress a lot of information into simple sentences. Download free templates to help you write the promissory note. If you have any DMCA issues on this post, please contact us!