North Carolina Unsecured Promissory Note Template
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The North Carolina Unsecured Promissory Note Template is a legal form that establishes the various terms of a loan agreement. The document, entered into by a lender and borrower, is legally enforceable once it has been signed the involved parties. Unsecured promissory notes are not guaranteed by the backing of a borrower’s pledged assets (i.e. collateral). This is the primary difference between unsecured and secured notes. The instructions provided below can be used as a reference when drafting your unsecured promissory note.

How to Write

Step 1 – Download the form.

Note: The .PDF file can be filled out electronically.

Step 2 – Provide the following details on the first page of the form (within the first paragraph):

• Date of agreement
• Names of borrower/lender
• Addresses of borrower/lender
• AND
• Amount that is to be loaned
• Interest rate that the borrower will be charged

Step 3 – Payments – Select the borrower’s method of repayment by checking the corresponding box off (from the following options):

• No Installments
• Installments
• Interest Only

Step 4 – If the borrower’s payment method is “Installments” or “Interest Only,” the monthly OR weekly payment schedule must be provided in the appropriate input fields.

Step 5 – Due Date:

• Fill in the principal sum’s final due date. The full balance of the loan (including interest/fees) must be paid in full by this date.

Step 6 – Interest Due in Event of Default:

• Provide the interest rate that will be charged to the borrower (should they default on the loan).

Step 7 – Late Fees:

• Fill in the number of days in which the borrower will have after missing a scheduled payment (before the lender can charge a late fee).
• Submit the late fee amount.

Step 8 – Acceleration:

• Enter how long the borrower will have, after defaulting on the note, to “cure” the default.

Step 9 – Signatures:

• In order for the form to be enforceable in court, it must be signed by the borrower, lender, and witnesses.
• The printed names of each party must also be provided.
• AND
• The date of signing must be submitted.