Demand Note Template

This Demand Note (“Note”) is entered into on [Date], by and between:

Lender:
Name: __________________________
Address: __________________________
Email: __________________________
Phone: __________________________

Borrower:
Name: __________________________
Address: __________________________
Email: __________________________
Phone: __________________________

Collectively referred to as the “Parties.”

1. Principal and Interest

The Borrower promises to pay the Lender the principal sum of $[Amount], with interest at the rate of [Interest Rate]% per annum, calculated on the unpaid balance until paid in full.

2. Repayment on Demand

• The total outstanding balance of this Note shall be payable in full upon demand by the Lender.

• The Lender shall provide the Borrower with [X] days written notice prior to requiring full repayment.

3. Optional Periodic Payments

The Borrower may make voluntary payments of principal and interest at any time before a demand is made by the Lender. Such payments will be applied first to accrued interest, then to principal.

4. Default

The Borrower shall be in default if they:

• Fail to pay the amount due within [X] days after the Lender’s written demand.

• Become insolvent, file for bankruptcy, or otherwise breach this Note.

Upon default, the Lender may seek legal remedies, including collection of the full balance and enforcement of any collateral agreements.

5. Security (if applicable)

This Note is:
☐ Secured by collateral described as [Describe Collateral]
☐ Unsecured

If secured, the Lender may enforce their rights to the collateral upon default, in accordance with applicable law.

6. Prepayment

The Borrower may prepay this Note in whole or in part at any time without penalty.

7. Governing Law

This Note shall be governed by and construed in accordance with the laws of [State/Country].

8. Notices

All notices required or permitted under this Note shall be in writing and delivered personally, sent by certified mail, or emailed to the addresses provided above.

9. Entire Agreement

This Note constitutes the entire agreement between the Parties and supersedes all prior agreements or understandings related to the loan.

Signatures

Lender Signature: ____________________________ Date: _________
Printed Name: _________________________________________

Borrower Signature: ____________________________ Date: _________
Printed Name: _________________________________________