This form is a Promissory Note. The borrower promises to repay the lender, with interest, on a particular loan. The payments will be made in monthly installments and there is no penalty for pre-payment of the loan.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés.
For your convenience, the complete English version of this form is attached below the Spanish version.
Keep an eye on the interest rate, payment schedule, and any fees for late payments. These terms can make a big difference in how easy or tough it is to manage your payments.
If the buyer defaults, the seller may have the right to take legal action to recover the owed amount. It's like having a backup plan if things go sideways.
It's always wise to have a lawyer look over your promissory note before you sign it. They can help spot any tricky terms and make sure all your bases are covered.
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