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Canadian Legal Forms > Promissory Notes & Loan Agreements > Promissory Note - Fixed Term w/ Amortized Payments
Promissory Note - Fixed Term w/ Amortized Payments
When a person or entity (“Lender”) loans money to another person or entity (“Borrower”), the loan is typically formalized with a promissory note. A promissory note will set forth, among other things, the repayment schedule and the interest rate.
This particular Promissory Note requires the Borrower to pay off a blend of interest and principal in monthly payments. It also includes language for a fixed interest rate.
See form: Promissory Note - Fixed Term w/ Amortized Payments
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