Information Security Notes Pdf Free Download

The Washington promissory note templates are documents signed by both a lender and a borrower that concrete the details of a money-lending agreement. The documents cover areas ranging from late fees to payment types plus many more important sections.

Usury Rate – The maximum rate of interest is 12% or 4% points above the average bill rate for 26-week treasury bills in the month before the loan was made.

Laws –Wash. Rev. Code § 19.52.020

Types (2)

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Secured Promissory Note – The 'secured' part of the document refers to a section in which an item is declared as security. This item is typically a home, vehicle, or boat. The item is given to the lender if the borrower cannot repay the loaned balance to help cover the remaining unpaid note.

Download: Adobe PDF, MS Word (.docx), OpenDocument

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Unsecured Promissory Note – This version does not include security, leaving the lender at an increased risk for losing the loaned balance. The lender should screen potential borrowers to ensure they have a strong credit history to avoid a financial loss.

Download: Adobe PDF, MS Word (.docx), OpenDocument

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Usury Rate

In Washington, "any rate of interest shall be legal so long as the rate of interest does not exceed the higher of: (a) twelve percent per annum; or (b) four percentage points above the equivalent coupon issue yield (as published by the Board of Governors of the Federal Reserve System) of the average bill rate for twenty-six week treasury bills." WA ST 19.52.020

(Video) What is a Washington Promissory Note?

How to Write –

Step 1 –Download the Washington note document – Submit the following:

• The start date of the form – in dd/m/yy format
• The Borrower's name and Mailing address
• AND
• Lender's name and Mailing address
• AND
• Enter the total sum of the principal on the note
• Provide the unpaid sum of the annual percentage rate (APR)

Step 2 –Payments –

• Enter the balance of the note to be satisfied by the due date
• Include the sum of all accrued interest and late fees

Installments –

Payment method – Provide the final date for the note to be paid in full, in dd/m/yy format

• The full amount to be paid in full
• The total sum of the principal
• Choose the best payment frequency and check the box
• Submit the amount that would be required of the borrower for late fees

Step 3 – Security-

• Check "Secured"or "Unsecured"
• If the note is required to be a"secured," agreement, provide a property description

Step 4 –Titled Sections and Subsections –

• Interest due in the Event of Default
• Allocation of Payments
• Prepayment
• Acceleration (and 6A.)
• Attorney's Fees and Costs
• Waiver of Presentments
• Non-Waiver
• Severability
• Integration
• Conflicting Terms
• Notice
• Co-Signer – Name of co-signer
• Execution
• Governing Law – (Washington State Laws)

Step 5 –Signatures – Submit signatures before a witness, as follows:

• Lender's signature
• Date of signature in mm/dd/yyyy format
• Print name
• AND
• Borrower's signature
• Date of signature – mm/dd/yyyy
• Print name
• AND
• Co-signer  signature
• Date signature in dd/mm/yyyy format
• Print name
• AND
• Witness' signature
• Date of witness' signature in mm/dd/yyyy format
• Print name

Source: https://eforms.com/promissory-note/wa/

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