How to Write a Promissory Note? Step-by-Step Guide
Promissory note (bono / order promissory note) documents should clearly state their nature in the opening paragraph so both parties immediately understand the obligation they are entering into. Making the document type explicit from the start prevents ambiguity later in the process.
A promissory note is a frequently used document in commercial life and is extremely important from a legal perspective. If not written correctly, it may be considered invalid and this can lead to legal problems. In this article, we will provide a comprehensive answer to the question of how to write a promissory note compliant with Turkish Commercial Code (TCC).
What is a Promissory Note?
A promissory note is a document drawn up by the debtor and containing a promise to pay the creditor. A promissory note is the debtor's commitment to pay the creditor a certain amount of money on a specific date or at maturity.
Important Points When Writing a Promissory Note
1. Promissory Note Title
A promissory note is not legally required to start with the heading “Promissory Note”. Turkish law instead looks for the wording “bono” or “emre yazılı senet” within the body of the document to confirm its enforceability. Keeping those phrases near the top of the document ensures every reader immediately recognizes the document type and leaves no room for interpretation.
2. Date Information
The promissory note must contain a date. This date is the date the note was drawn up. The date should be written in day/month/year format.
3. Amount Information
One of the most important elements of a promissory note is the debt amount. The amount should be written both in figures and in words. For example:
- In figures: 10,000.00 TL
- In words: Ten Thousand Turkish Liras
4. Time Draft and Demand Draft
Promissory notes are divided into two categories based on maturity:
- Time Draft: Notes that will be paid on a specific date. The maturity date must be specified.
- Demand Draft: Notes that will be paid when payment is requested.
5. Debtor and Creditor Information
The following must be specified in the note:
- Debtor's full name (or title)
- Debtor's address
- Debtor's T.C. Identity No (or Tax No)
- Creditor's full name (or title)
- Creditor's address
6. Place of Payment
The place where payment will be made (city or address) should be specified in the note.
7. Signature
The promissory note signature requirement is a non-negotiable condition under Turkish law. The debtor (or an authorized representative for companies) must provide a wet signature together with their readable name at the end of the document. Promissory notes that lack this signature are considered invalid and cannot be enforced through legal or collection procedures.
Steps to Write a Promissory Note
Step 1: Title and Date
Add a descriptive heading such as “Promissory Note / Bono (Order Promissory Note)” and include the drafting date just below it. While the heading is optional legally, it improves clarity and SEO.
Step 2: Debtor Information
Write the debtor's full name, address, and identity information.
Step 3: Amount Information
Write the debt amount both in figures and in words. Don't forget to specify the currency.
Step 4: Maturity Information (For Time Draft)
If the note is a time draft, clearly specify the maturity date.
Step 5: Place of Payment
Specify where payment will be made.
Step 6: Signature
Add the debtor's signature at the bottom of the note.
Promissory Note According to Turkish Commercial Code
The Turkish Commercial Code (TCC) clearly specifies how promissory notes should be drawn up. Promissory notes that do not comply with the TCC may be considered legally invalid. Therefore, you must always act in accordance with TCC rules when writing a promissory note.
Digital Promissory Note Creation
Today, digital tools are also used to create promissory notes. Platforms like Senetyaz allow you to easily create professional promissory note documents compliant with the TCC. These platforms offer advantages such as:
- Automatic form validation
- TCC compliance checking
- PDF format download
- Data security
Conclusion
Writing a promissory note is a serious transaction from a legal perspective. Every detail must be written correctly. Incorrect or missing information can cause the note to be considered invalid. Therefore, you should carefully follow the steps above when writing a promissory note.
If you want to learn more about writing promissory notes or create a professional bono / order promissory note document, you can use the Senetyaz platform.