How to fill out a provisional note without secrets!

If you are someone who wants to do business, know that the promissory note is one of the ways used to have a type of payment contract, that is, a way to have a valid document for paying debts.

In this post, we'll show you what a provisional note is and how to fill it out, as well as showing you the different types and understanding how to do it.

Therefore, follow the article until the end and learn more about filling out provisional notes.

See here the step by step guide on how to fill out a promissory note 👈

What is a promissory note?

A promissory note is a legal document establishing a written and signed promise of payment between two parties. It is a financial instrument used to formalize a debt or payment obligation.

Typically, a promissory note includes information such as the date of issue, the amount to be paid, the due date, the debtor's and creditor's identification information, and the payment terms. It must be signed by the debtor, who agrees to pay the amount specified in the note within the stipulated period.

What is a promissory note for?

A promissory note serves as a legal instrument to formalize a debt or payment obligation between two parties. It performs several important functions:

• Evidence document: The promissory note serves as written evidence of the debt or the promise to pay.
• Security and trust: By signing a promissory note, the debtor assumes a legal commitment to honor the payment on the established date.
• Judicial execution: The promissory note is considered an extrajudicial executive title.
• Negotiation and guarantees: The promissory note can be used as a negotiation instrument or as a guarantee to obtain credit.
• Accounting Record: The promissory note plays an important role in the accounting records of the parties involved. It records the existence of the debt and allows for the tracking of payments and financial obligations.

What are the types of promissory notes?

There are two types of promissory notes, each with its own distinct characteristics. Here are the differences:

• Pro-soluto Promissory Note: In this type of promissory note, if the debtor fails to make the agreed payment, the creditor does not have the automatic right to terminate the transaction or terminate the contract. To receive the stipulated amount, the creditor must take legal action, such as filing a lawsuit, to seek payment.
• Pro-solvendo Promissory Note: In contrast, in this type of promissory note, the creditor has the right to terminate the contract if the debtor fails to make payment within the established deadline. There is no need to resort to legal action to obtain payment. The debtor's failure to fulfill the obligation itself allows the creditor to terminate the agreement.

How to fill out a promissory note?

Now, see a step-by-step guide to filling out a simple provisional note:

Step 1: Promissory note number

In the “number” field, indicate the payment made in a single installment (01/01).

For simple promissory notes, that is, with a single payment, you must enter 01/01 or explained: 01 of 01.

Step 2: Due Date

Correctly enter the date on which the promissory note is due, including the day, month, and year. It's crucial to fill out this field accurately. If it's not filled out, the payment term will be the same day.

In addition to filling in “Expiration”, some notes will come with a field for you to fill in the expiration date in full.

Step 3: Note value

In the “amount” field, follow the same logic used for checks: present the amount in numerical format and in full, including the pound sign (#) at the beginning and end to avoid tampering.

Step 4: Creditor Name

Fill in the full name of the promissory note beneficiary, along with their CPF or CNPJ number.

Step 5: Name and CPF of the Issuer/Debtor

In this space, enter the debtor's full name, without abbreviations or omissions of surnames. Also, provide the debtor's CPF number.

Step 6: Issue Date

Indicate the date of issue of the promissory note, which represents the day it was completed.

This way, it is possible to know the emission when necessary.

Step 7: Debtor's Address

Provide the debtor's complete address, including street name, number, address, city, and state.

Step 8: Signature

Finally, the promissory note with the issuer's signature, guaranteeing its authenticity.

That's it! By following these steps, you can fill out a simple promissory note.

How to fill out an installment promissory note?

Completing installment promissory notes follows the same pattern as simple promissory notes, with just a few minor differences:

• Number: Enter the number of each promissory note, identifying each one. Example: 01 of 05, 02 of 05, 03 of 05, 04 of 05, 05 of 05.
• Due date: Remember that each promissory note must have a specific payment date. Example: July 1, 2023, August 1, 2023, etc.
• Note value: enter the value of each installment that will be paid on each promissory note.

The other fields must be completed in the same way, as in the simple provisional invoice. Remember that each invoice, for each installment, must be completed in full.

How to issue a promissory note online?

With the advancement of the internet, it has been possible to issue promissory notes online for some time now.

Here's a step-by-step guide to help you fill it out online:

• Choose a reliable platform: Research online platforms that offer promissory note issuance services. Check the platform's reputation and security before proceeding. You can use NotaPromissória.com, Reciboonline.com, and many others.
• Access the platform: Visit the website of your chosen platform and create an account to issue your card. Provide the requested information to register. You'll need your personal information and documents.
• Fill in the promissory note details: On the platform, you'll find a digital form to fill out the promissory note information. Fill in all fields, just like on a paper note: note amount, due date, creditor's name, debtor's name, and address.
• Reviewing the details: Before proceeding, carefully review all information entered to ensure it is correct and complete. Ensure there are no errors or omissions.
• Digital signature: Some platforms offer the digital signature option. In this case, you can digitally sign the promissory note using the tools provided by the platform. Otherwise, you will need to print the document for physical signature.
• Generating and downloading the promissory note: After reviewing and signing the document, the platform will usually allow you to generate and download the completed promissory note. Make sure the document is generated in PDF or another format.
• Distribute the promissory note: Send a copy of the promissory note to the lender and keep a copy for your records. You can share the document via email, cloud storage services, or any other suitable method.

How to protest a promissory note?

You may have received a promissory note and need to protest the instrument due to non-compliance with the note and the inability to negotiate with the debtor.

To protest a promissory note, follow these steps:

• Check for default: Make sure the promissory note's due date has passed and the debtor has not made payment as agreed.
• Consult a Protest Notary: Find a Protest Notary in your area. They are responsible for registering and protesting titles, including promissory notes.
• Gather the necessary documents: Before going to the Notary's Office, have the following documents on hand: the original promissory note, proof of the debtor's address, the debtor's CPF/CNPJ, and any other documents that prove the default, such as charges or prior notices.
• Present the promissory note for protest: Go to the Notary Public Protest Office and present the promissory note and the necessary documents. Inform the attendant that you wish to protest the promissory note.
• Pay the fees: Typically, a fee is required to protest a promissory note. Check with your notary public for specific fees and make the corresponding payment.
• Registration and notification: The Notary's Office will register the promissory note protest in its system and notify the debtor. The debtor will have a period of time to regularize the situation by making payment. Otherwise, the protest will be kept in the public record.
• Effect of protest: Protesting a promissory note can have significant consequences for the debtor, such as credit restrictions and difficulties in conducting commercial transactions. This action may encourage the debtor to fulfill their payment obligation.

What can invalidate a promissory note?

A promissory note can be invalidated in various situations. A lack of signature by the issuer, a lack of a clear due date, inconsistent amounts between the numerical and worded amounts, and a lack of proper identification of the creditor and debtor are some of the reasons that can lead to invalidation.

Furthermore, if the promissory note was issued without the issuer's voluntary consent, if there are formal defects, or if the cause or purpose are illegal, immoral, or contrary to law, the promissory note may also be invalidated. It is important to note that the requirements and circumstances that may lead to invalidation may vary depending on the applicable legislation in each country or jurisdiction.

Is it worth making a promissory note?

The decision to issue a promissory note depends on several factors, such as the nature of the financial arrangement, the level of trust between the parties involved, and applicable law. In some situations, a promissory note can be a convenient and formal way to record a debt and establish clear payment terms, providing additional security for the creditor.

On the other hand, it is important to consider the possible risks and drawbacks, such as the need to comply with legal requirements for its validity, the possibility of facing difficulties in execution in the event of default, and the possibility of legal litigation to enforce the obligation.

It is advisable to carefully evaluate the specific situation, seek appropriate legal advice, and consider alternatives, such as more comprehensive contracts or additional guarantees, before deciding whether a promissory note is the best option for the parties involved.

Frequently asked questions

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