Introducing Referent – AI-native practice management software for modern law firms.
Explore ReferentThis 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.”
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.
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.
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.
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.
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.
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.
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.
The Borrower may prepay this Note in whole or in part at any time without penalty.
This Note shall be governed by and construed in accordance with the laws of [State/Country].
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.
This Note constitutes the entire agreement between the Parties and supersedes all prior agreements or understandings related to the loan.
Lender Signature: ____________________________ Date: _________
Printed Name: _________________________________________
Borrower Signature: ____________________________ Date: _________
Printed Name: _________________________________________
Each template already follows legal structure and best practices.
The agreement is automatically filled and adapted to your inputs.
Check the generated document, make edits if needed, and download a ready-to-use agreement.
Click below for detailed info on the template.
For quick answers, scroll below to see the FAQ.
Frequently asked
A Demand Note is a type of promissory note where the borrower agrees to repay the loan whenever the lender demands it, rather than on a fixed schedule. It offers flexibility for both parties and is commonly used in short-term or informal financing situations.
It provides the lender with maximum control over repayment, ensuring they can call the loan when necessary. It also creates a legal record of the loan terms, protecting both the borrower and lender in case of disputes.
Use a Demand Note for short-term loans, family or friend loans, business cash advances, or situations where repayment timing cannot be predetermined.
Essential elements include the principal amount, interest rate (if any), repayment terms, notice requirements for repayment, default provisions, and governing law.
Unlike a Term Note, which has a fixed repayment schedule, a Demand Note can be called in full at any time by the lender with proper notice.
Use our AI-powered builder to generate a tailored Demand Note in minutes — professional, legally compliant, and ready to use.
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