Educational Information Only
The content on this page is for general educational purposes and does not constitute legal advice. Every legal situation is unique. For matters involving investigation, arrest, litigation, or formal proceedings, consult a qualified legal professional.
Promissory Note (Loan IOU)
A written promise to pay a specific sum of money — simpler than a loan agreement, legally enforceable in Thai courts.
When to Use
For personal loans between individuals, informal business loans, or documenting debts. Simpler and faster than a full loan agreement.
Key Clauses
Amount
Principal amount in both numbers and words. Specify currency (THB).
Interest Rate
Maximum legal rate: 15% per year for promissory notes. Specify rate clearly.
Repayment Date
Specific date or 'on demand'. Installment schedule if applicable.
Maker & Payee
Full names, ID/passport numbers of both parties.
Signature & Date
Signed by the maker (borrower). Witnessed recommended but not legally required.
Warnings
Interest above 15% per year is illegal for promissory notes and voids the interest clause.
Promissory notes have a 3-year statute of limitations from the payment date.
The note must be in writing — oral promises are not enforceable as promissory notes.
Professional Legal Assistance
When a matter involves investigation, arrest, detention, litigation, or regulatory action, professional legal representation becomes essential.
Anglo Siam Legal provides experienced legal services across Thailand for both Thai nationals and foreigners.
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