Nevada Unsecured Promissory Note Template

TheĀ Nevada Unsecured Promissory Note Template is a contractual form that is entered into by two parties (a lender and borrower). The document serves to outline the principal sum, interest rate, repayment method, and other terms of a loan. Unsecured notes do not require the borrower to pledge collateral (as opposed to secured notes). Because of this, unsecured notes are typically used for borrowers who have a relatively low default risk.

  • Note: The document MUST be signed by all involved parties (borrower, lender/representative, witnesses) in order to be legally valid.

How to Write

Step 1 – Download the form.

Step 2 – The first paragraph of the note must contain the following:

  • Date of note/agreement
  • Name of borrower
  • Name of lender
  • Addresses of borrower and lender
  • Principal sum
  • Interest percentage

Step 3 – Payments – Select one of the three available payment methods:

  • No Installments
  • Installments
  • Interest Only

Step 4 – The monthly or weekly payment schedule must be submitted (if the payment method is “Installments” or “Interest Only”).

Step 5 – Due Date:

  • Enter the due date (of the full principal sum/interest/additional fees).

Step 6 – Interest Due in Event of Default:

  • Submit what interest percentage shall be applied to the balance of the note if the borrower ends up defaulting on it (the note).

Step 7 – Late Fees:

  • Fill in how long the borrower will have to make a payment (past the original due date).
  • If the borrower does not make the payment within the period of time mentioned in this subsection, they will be subject to a late charge.
  • Submit the late charge amount.

Step 8 – Acceleration:

  • Enter the amount of time the borrower will have after defaulting on the note to “cure” the default.

Step 9 – Signatures:

  • Provide the date in the supplied format.
  • Enter the name of the borrower .
  • Submit the name of the lender.
  • Fill in the names of the witnesses.
  • Borrower must sign the document.
  • Lender must sign the document.
  • Witnesses are required to sign the document.
Nevada Unsecured Promissory Note - Adobe PDF - Microsoft Word

Nevada Unsecured Promissory NoteAdobe PDFMicrosoft Word