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The Promissory Note

What is a Promissory Note?

A Promissory Note is a written, signed and dated two-party negotiable instrument containing an unconditional promise by the maker (or obligor, promisor) to pay a definite sum of money to a payee (or holder) on demand or at a specified future date. It is often used as a means to borrow funds or take out a loan.

So it’s basically a promise to pay a certain amount of money to someone, on demand, or at a specified time.

The only difference between a promissory note and a bill of exchange is that the maker of a note pays the payee personally, rather than ordering a third party to do so.

Securitisation:

Will your bank tell you that they Securitised your loan, Not a chance.

Can you find out if they did, well the short answer is yes.

However, it is very difficult, if you Google the subject you will see just how hard it is to find and follow your note.

There are people out there that will do it for you but it is expensive.

Securitisation