Submission Agreement Sample For Lending Money In Illinois
Category:
State:
Multi-State
Control #:
US-0010BG
Format:
Word;
Rich Text
Instant download
Description
An agreement to arbitrate a dispute that has already arisen is sometimes called a ?ˆ?submission agreement.?ˆ A submission agreement is needed when the parties don?ˆ™t have an existing written contract or a clause in an existing contract that provides that arbitration will be used to settle disputes between them. The submission agreement is used to start the arbitration with the selected arbitrator.
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FAQ
Promissory notes are contracts and contracts don't make dishonest people honest. A DIY contract is likely a mistake. You can buy a promissory note off of a site like or use a local attorney.
A simple promissory note might be for a lump sum repayment on a certain date. For example, let's say you lend your friend $1,000 and he agrees to repay you by December 1st. The full amount is due on that date, and there is no payment schedule involved.