Employment Promissory Note Template for England and Wales

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Employment Promissory Note

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Employment Promissory Note

"I need an Employment Promissory Note to formalize a deferred bonus payment of £50,000 to our senior software engineer, with monthly installments starting from March 2025 and including a 5% annual interest rate."

Document background
An Employment Promissory Note is commonly used when an employer needs to formalize a payment obligation to an employee, such as deferred compensation, bonuses, or other employment-related payments. This document, governed by English and Welsh law, provides security and clarity for both parties by establishing specific payment terms, conditions, and remedies in case of default. The promissory note combines elements of employment law with financial obligations, making it a crucial tool for managing employment-related financial commitments.
Suggested Sections

1. Parties: Identification of the employer and employee

2. Promise to Pay: Unconditional promise to pay a specified sum

3. Payment Terms: Amount, due date, and payment method

4. Interest Rate: Applicable interest rate and calculation method

5. Default Provisions: Consequences of non-payment

6. Governing Law: Specification of applicable law and jurisdiction

Optional Sections

1. Security: Details of any collateral or security provided - used when the note is secured by specific assets

2. Early Repayment: Terms for early repayment options - included when early repayment is permitted

3. Assignment: Rights to assign or transfer the note - included when transfer rights are relevant

Suggested Schedules

1. Payment Schedule: Detailed breakdown of payment installments and due dates

2. Interest Calculation Schedule: Detailed method for calculating interest including examples and formulas

3. Security Details: Comprehensive description of any security or collateral provided

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant Industries
Relevant Teams
Relevant Roles
Industries

Employment Rights Act 1996: Primary legislation governing employment rights in England and Wales, providing the fundamental framework for employment relationships

Contracts Act 1999: Legislation governing the formation and enforcement of contracts in England and Wales

Law of Property (Miscellaneous Provisions) Act 1989: Legislation concerning formal requirements for creating certain types of legal obligations and property interests

Financial Services and Markets Act 2000: Regulatory framework for financial services and markets in the UK, relevant for financial instruments like promissory notes

Contract Law Fundamentals: Common law principles including offer, acceptance, consideration, and intention to create legal relations

Commercial Law - Promissory Notes: Common law principles specifically governing the creation and enforcement of promissory notes

National Minimum Wage Act 1998: Legislation ensuring minimum payment standards in employment relationships

Working Time Regulations 1998: Regulations governing working hours and conditions that might affect payment terms

Income Tax Laws: Tax legislation relevant to employment-related payments and obligations

Consumer Credit Act 1974: Legislation governing credit arrangements which may be relevant if the promissory note includes credit elements

FCA Regulations: Financial Conduct Authority regulations regarding financial instruments and obligations

Limitation Act 1980: Legislation setting time limits for enforcement of legal obligations and debt recovery

Legal Validity Requirements: Formal requirements including written form, unconditional promise, signature, specific sum, and payment terms

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Undertaking Loan Agreement

find out more

Solicitor Loan Agreement

find out more

Securities Lending Agreement

find out more

Rent Agreement For Personal Loan

find out more

Rent Agreement For Loan

find out more

Private Car Sale Loan Agreement

find out more

Parent Loan Agreement

find out more

Mortgage Sales Contract

find out more

Mortgage Agreement

find out more

Money Repayment Agreement

find out more

Mezzanine Loan Agreement

find out more

Loan Surety Agreement

find out more

Loan Reinstatement Agreement

find out more

Loan Note Form

find out more

Loan Memorandum Of Agreement

find out more

Loan Indemnity Agreement

find out more

Loan Deed Agreement

find out more

Loan Conversion Agreement

find out more

Loan Commitment Agreement

find out more

Loan Agreement Without Interest

find out more

Loan Agreement Calculator

find out more

Lending Contract

find out more

Lending Agreement

find out more

Lenders Agreement

find out more

Lender And Borrower Agreement

find out more

Letter Of Borrowing Money From Company

find out more

Home Loan Agreement

find out more

Hold Harmless Agreement Mortgage

find out more

Hard Money Lending Contract

find out more

Finance Agreement

find out more

Formal Letter For Borrowing Money

find out more

Forbearance Agreement Commercial Loan

find out more

Family Loan Agreement Contract

find out more

Education Loan Agreement

find out more

Debt Agreement Loans

find out more

Debt Agreement Letter

find out more

Contract Of Loan With Real Estate Mortgage

find out more

Company To Company Loan Agreement

find out more

Commercial Loan Broker Agreement

find out more

Caveat Loan Agreement

find out more

Cash Loan Contract

find out more

Car Payment Agreement Contract

find out more

Car Payment Agreement Between Friends

find out more

Car Payment Agreement

find out more

Bank Loan Agreement

find out more

Assumption Of Loan Agreement Form

find out more

Compliance Agreement Mortgage

A legal document under English and Welsh law establishing compliance requirements and monitoring procedures for mortgage relationships.

find out more

Agreement To Take Over Car Payments

A legal agreement under English and Welsh law that transfers responsibility for vehicle loan payments from one party to another.

find out more

Petty Cash Loan Agreement

A legally binding agreement under English and Welsh law establishing terms for managing petty cash funds between employer and employee.

find out more

Letter Borrowing Money From A Friend

A formal letter agreement for documenting personal loans between friends under English and Welsh law.

find out more

Good Faith Loan Agreement

A legally binding loan agreement under English and Welsh law, emphasizing honest and fair dealing between parties through explicit good faith provisions.

find out more

Interest Only Loan Contract

A contract for an interest-only loan facility under English and Welsh law, where only interest payments are made during the loan term.

find out more

Option Contract Car Loan

A legally binding car loan agreement with embedded option rights, governed by English and Welsh law.

find out more

Loan On Rent Agreement

A legal agreement under English and Welsh law governing the terms and conditions for equipment rental between a lessor and lessee.

find out more

Assumption Of Mortgage Form

A legal document under England and Wales law that enables the transfer of mortgage obligations from one borrower to another, with the lender's consent.

find out more

Mortgage Note Purchase Agreement

An English law agreement governing the purchase and sale of mortgage notes between financial institutions.

find out more

Car Loan Assumption Agreement Form

A legal document under English and Welsh law enabling the transfer of car loan obligations from one borrower to another.

find out more

Letter Of Exclusivity Mortgage Broker

A formal agreement establishing exclusive mortgage broking services between broker and client in England and Wales.

find out more

Line Of Credit Agreement And Note

A legal agreement under English and Welsh law establishing a revolving credit facility and associated promissory note between lender and borrower.

find out more

Contract Financing Loan

An English law agreement establishing terms for contract-based financing, including loan terms, security, and parties' obligations.

find out more

Loan Takeover Agreement

An English law agreement facilitating the transfer of loan rights and obligations from one lender to another while maintaining the original loan terms.

find out more

Loan Against Rent Agreement

An England and Wales jurisdiction agreement enabling property owners to secure loans against rental income streams.

find out more

Inventory Loan Agreement

A legally binding agreement under English and Welsh law that facilitates lending against inventory as collateral.

find out more

Credit Agreement Between Two Parties

An English law agreement establishing credit terms between a lender and borrower, including loan amount, interest, and repayment conditions.

find out more

Demand Promissory Note Loan Agreement

An English law agreement combining a loan agreement with a promissory note, enabling the lender to demand repayment at any time.

find out more

Business Line Of Credit Agreement

A legal agreement governed by English and Welsh law establishing a revolving credit facility between a lender and a business borrower.

find out more

Forgivable Loan Promissory Note

A legal document under English and Welsh law establishing terms for a loan that may be forgiven upon meeting specified conditions.

find out more

Loan Against Lease Agreement

A financing agreement under English and Welsh law where a lease serves as security for a loan, detailing loan terms and security arrangements.

find out more

Construction Loan Extension Agreement

A legal document under English and Welsh law that extends the term of an existing construction loan and updates related terms and conditions.

find out more

Auto Loan Agreement

A legally binding agreement under English and Welsh law establishing terms for vehicle financing between a lender and borrower.

find out more

Residential Mortgage Contract

A legally binding agreement under English and Welsh law establishing terms for a residential property loan, including security arrangements and repayment conditions.

find out more

Mortgage Settlement Agreement

A legal document under English and Welsh law that establishes the terms for settling and concluding a mortgage arrangement between lender and borrower.

find out more

Letter Of Intent For Business Loan

A preliminary document under English and Welsh law outlining proposed terms for a business loan arrangement.

find out more

Co Signer Agreement Form For Car

A legally binding agreement under English and Welsh law establishing a co-signer's obligations and responsibilities in a vehicle finance arrangement.

find out more

Motorcycle Loan Agreement

An English law agreement setting out terms for motorcycle financing between a lender and borrower.

find out more

Letter For Borrowing Money

A formal letter governed by English and Welsh law that documents loan terms and conditions between a lender and borrower.

find out more

Loan Agreement Shareholder To Company

An English law agreement documenting terms of a shareholder loan to their company, including amount, interest, and repayment terms.

find out more

Contract For Debt Repayment

A legally binding agreement under English and Welsh law that sets out terms for debt repayment, including payment schedule and default provisions.

find out more

Consortium Loan Agreement

A legally binding agreement under English and Welsh law governing a loan provided by multiple lenders acting as a consortium to a single borrower.

find out more

Mortgage Buyout Agreement

A legal agreement under English and Welsh law enabling one party to acquire another's interest in a mortgaged property through a formal buyout process.

find out more

Agreement Of Money Between Two Parties

A legally binding agreement under English and Welsh law that establishes terms for monetary transactions between two parties.

find out more

Personal Credit Agreement

A regulated agreement under English and Welsh law establishing terms for personal lending between a financial institution and individual borrower.

find out more

On Demand Loan Agreement

A legally binding agreement under English and Welsh law establishing terms for a loan that can be called for repayment at any time by the lender.

find out more

Loan Agreement Between Lender Borrower And Guarantor

An English law agreement establishing loan terms between a lender, borrower, and guarantor, including loan amount, repayment terms, and guarantee provisions.

find out more

Fee Letter Syndicated Loan

An English law-governed document detailing the fee arrangements between parties in a syndicated loan transaction.

find out more

Demand Loan And Term Loan

An English law agreement combining demand and term loan facilities, setting out terms for immediate repayment on demand and/or structured repayment over a fixed period.

find out more

Car Pawn Agreement

A legally binding agreement under English and Welsh law governing the terms of a loan secured against a vehicle through pawning.

find out more

Equine Loan Agreement

A legal agreement under English and Welsh law governing the temporary loan of a horse between owner and borrower.

find out more

Tranche Loan Agreement

An English law agreement governing the provision of loan facilities in multiple predetermined portions (tranches), including drawdown conditions and repayment terms.

find out more

Simple Loan Note

A legally binding document under English and Welsh law that evidences debt and sets out loan terms between lender and borrower.

find out more

Short Term Credit Agreement

An English law agreement setting out terms for short-term credit provision between lender and borrower, compliant with UK consumer credit regulations.

find out more

Payday Loan Agreement

A regulated agreement under English and Welsh law for short-term, high-cost credit facilities, complying with FCA requirements and consumer protection regulations.

find out more

Joint Loan Agreement

A legally binding agreement under English and Welsh law establishing terms for a loan between a lender and multiple borrowers with joint responsibility.

find out more

Group Loan Agreement Form

A legal document governed by English and Welsh law that establishes lending arrangements between financial institutions and corporate group borrowers.

find out more

Default Loan Agreement

An English law agreement setting out revised terms between lender and borrower following loan default.

find out more

Cash Advance Loan Agreement

An English law agreement for short-term financing where a lender provides an advance sum to be repaid with interest.

find out more

Bill Of Sale Loan Agreement

A secured lending agreement under English and Welsh law where movable property serves as collateral while remaining in the borrower's possession.

find out more

Asset Based Loan Agreement

An English law agreement governing asset-based lending facilities secured against specific business assets.

find out more

Parallel Loan Agreement

An English law agreement facilitating reciprocal lending between entities in different jurisdictions, typically used to overcome currency exchange restrictions.

find out more

Letter Of Credit Loan Agreement

A legal agreement governed by English and Welsh law that establishes terms for a letter of credit facility between a lender and borrower.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.