Here’s a sample of a promissory letter and tips on how to write this letter.
PROMISSORY LETTER SAMPLE – There’s an obvious reason why a student would need this letter and here’s a guide and tips and writing this.
There are two types of letters – the formal and informal. One of those under the formal letters is the promissory letter and during our school years, there’s surely a time when we needed this. A promissory letter or promissory note is a legal, financial tool where a person’s promise to pay a certain amount on a particular day is reflected.
This serves as a short-term credit tool that is not related to any currency note or banknote.
There are different types of this letter and they are:
- Personal – This is for the loan taken from family or friends.
- Commercial – This is for the loan taken from deals made with commercial lenders such as banks.
- Real Estate – This is similar to commercial notes in terms of consequences for nonpayment.
- Investments – This is for a business to raise funds and may be used for security purposes and managed by securities laws.
This letter should be written or printed – not oral. The date and amount of payment should reflect, duly signed, the promise is absolute and unconditional, in legal composition, and with detailed information such as the name of the drawer and payee, date of maturity, terms of repayment, issue date, name of the drawee, name, and signature of the drawer, principal amount, and the rate of interest, and others.
Here’s an example of a simple promissory note for students:
[Name]
[Address]
[Contact]
[Date]
[Recipient Name]
[Recipient Address]
[Recipient Contact]
Dear [Recipient]:
Good day! Please allow my son, Ryan Victor Thomas Cruz III, to take his examinations today, December 12, 2020. I am very sorry if we have yet to pay for the tuition fee for this grading period because his father lost his job amid the COVID-19 pandemic as their company closed. Meanwhile, rest assured that we will really find ways to pay for our son’s tuition fee before December 20, 2020.
Thank you so much for your kind consideration. God bless!
Respectfully yours,
(Signature)
LORNA CRUZ