Promissory note template Canada Quebec
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Free template to adapt to your situation: replace the sample information (names, addresses, dates, amounts, references) with your own.
FreeTemplate letterWord · PDF · No sign-up
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Promissory Note
Amount: CAD $[amount in figures]
Made at [city] (Quebec), on [date].
For value received, I, the undersigned, [First and last name of maker], domiciled at [address],
promise to pay to the order of [First and last name or company name of payee], domiciled at [address],
the sum of [amount in words] Canadian dollars,
[on [maturity date] / on demand / in [number] instalments of $[amount] payable on the [day] of each month beginning [date]],
with interest at the rate of [__]% per annum, calculated [monthly / annually] from [date] until paid in full.
[Optional – acceleration clause: Should any instalment not be paid when due, the entire outstanding balance shall become immediately due and payable.]
Place of payment: [address or financial institution].
Signature of maker: ______________________________
Free, no sign-up. Replace the sample information with your own.
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Drafting notes
- In Canada, promissory notes are governed by the federal Bills of Exchange Act, which applies in Quebec.
- To qualify as a promissory note, the promise must be unconditional, in writing, signed by the maker, and for a sum certain in money, payable on demand or at a fixed or determinable future time.
- Express interest as an annual rate (Interest Act); a rate above the criminal rate is prohibited.
- Holding a note does not dispense with a loan agreement where security or covenants are required; the note is often annexed to it.
How to use this template
- Download the letter in Word or PDF with the button above.
- Adapt it to your situation: your contact information, the recipient’s, the facts, dates and amounts.
- Send it and keep a dated copy.
About the author
Sonia Pin Legal counsel, business law
Sonia Pin is a legal professional specializing in business law and commercial litigation. She drafts and updates the contract and letter templates published on Avocat Montréal, with a focus on Quebec civil law (Civil Code of Québec) and the practical requirements of the courts and administrative tribunals.
