Are you lending a significant sum of money to a person or a company? Secure the repayment of the loan with this Installment Promissory Note with Prepayment Premium.
- The borrower will repay the loan principal and interest by a series of regular fixed installment payments.
- The loan is secured by collateral belonging to the borrower.
- The borrower has the option to prepay the Note, but the lender will charge a prepayment premium (fee) if the loan is paid out before the due date.
- The Note contains an acceleration clause, i.e. if the borrower defaults in making a payment or becomes bankrupt or insolvent, the entire balance together with interest becomes immediately due and payable.
This Installment Note with Prepayment Premium
template is available as a downloadable MS Word document, and is generic in nature (not country specific).