NON DISCLOSURE AGREEMENT (NDA)
WHAT IS A NDA?
A Non-Disclosure Agreement, is an agreement wherein the parties comply with sharing the confidential information/data which is mentioned under the ‘Confidentiality Clause’ of the Non-Disclosure Agreement. The parties to the Non-Disclosure Agreement also agree
to not disclose such information to the third party.
ALL SERVICES
NON DISCLOSURE AGREEMENT (NDA)
WHAT IS A NDA?
A Non-Disclosure Agreement, is an agreement wherein the parties comply with sharing the confidential information/data which is mentioned under the ‘Confidentiality Clause’ of the Non-Disclosure Agreement. The parties to the Non-Disclosure Agreement also agree
to not disclose such information to the third party.
NON DISCLOSURE AGREEMENT (NDA)
WHAT IS A NDA?
A Non-Disclosure Agreement, is an agreement wherein the parties comply with sharing the confidential information/data which is mentioned under the ‘Confidentiality Clause’ of the Non-Disclosure Agreement. The parties to the Non-Disclosure Agreement also agree
to not disclose such information to the third party.
NON DISCLOSURE AGREEMENT (NDA)
COPYRIGHT
COPYRIGHT
COPYRIGHT
WHAT IS A NDA?
A Non-Disclosure Agreement, is an agreement wherein the parties comply with sharing the confidential information/data which is mentioned under the ‘Confidentiality Clause’ of the Non-Disclosure Agreement. The parties to the Non-Disclosure Agreement also agree
to not disclose such information to the third party.
PROMISSORY NOTE
WHAT IS PROMISSORY NOTE?
A promissory note is a legal, financial tool declared by a party, promising another party to pay the debt on a particular day.
It is a written agreement signed by drawer with a promise to
pay the money on a specific date or whenever demanded.
OUR SERVICES :
Our experienced professionals will draft whichever document you need, tailored to your business requirements. We offer every client a free consultation call to
thoroughly discuss their requirements and clarify any doubts they may have after which a customized document is drafted, according to every client’s specific needs.
Let us draft a Promissory Note for you, personalized and customized according to your specific needs.
TYPES OF PROMISSORY NOTES
A Promissory Note may be secured or unsecured.
​
In case of a secured note, the borrower will be required to provide a collateral such as property, goods, services, etc.,
in the event that they fail to repay the borrowed amount. The value of the collateral being provided must be more or
equal to the amount that is being borrowed.
In case of an unsecured Promissory Note, no collateral needs to be provided. An unsecured loan is easy to get if one
has a health credit score.
PARTIES OF PROMISSORY NOTE
01
Drawer
A drawer is a borrower or debtor who promises to pay the debt to the
moneylender.
02
Drawee:
She/He is an individual,
in whose favour the note is prepared. She/He is the
creditor and provides
goods or services on credit
or lends capital.
03
Payee
A payee is someone to whom the payment is made.
Most of the times, the payee and drawee are the same people to whom the cash is paid.
The party who has loaned the money keeps the promissory note, and when the due is cleared,
the payee or drawee cancels the note and gives it to the drawer/payee.
COMPULSORY ELEMENTS OF A PROMISSORY NOTE
A Promissory Note will not be enforceable if it not includes all
the elements which are necessary to make it a legal document.
To make a Promissory Note enforceable, it must contain the
following information:
​
​
1. Names of All Involved Parties -
The Promissory Note must include the legal names of all the parties who are a part of the transaction.
​
2. Contact /Address Details of All Parties -
The note must include the address and contact number of all the parties which are involved in the transaction.
​
3. Loan Amount -
The loan amount that is being borrowed or lent.
​
4. Date of Repayment -
The note must clearly state the date on which the repayment for the loaned amount must be paid.
​
5. Rate of Interest -
In case interest is being charged on the lent or borrowed amount, the note must mention the rate of interest which will be calculated on the basis of APR (annual percentage rate).
​
6. Final Amount After Addition of Interest -
In case interest is being charged, the note must clearly mention the final amount which is to be repaid after the interest
is applied. The final amount will include the principal loan amount + the interest rate applicable.
​
7. Collateral Hold / Pledge of Security Agreement -
The note must contain the list of goods / services which are being put as a guarantee on the loan and also their value.
​
8. Terms of Repayment -
The note must have a clear mention of the terms on which the repayment of the loan must be done. Inclusions can also
be made for late or missed payments.
​
9. Default Terms -
The note must clearly mention the terms applicable in case the borrower fails to make the payment of the loan amount on time.
​
10. Signature -
The note must compulsorily include the signature of the borrower and a witness. Whether the signature of the lender is a mandatory requirement will differ from state to state. However, the signatures of the borrower and witness are of prime importance as without them, the note will be invalid and not have any legal capacity in a court of law.
​
​