Acknowledgment by Endorsement on the Promissory Note (India) by OLL
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ACKNOWLEDGMENT BY ENDORSEMENT ON THE PROMISSORY NOTE
This _____ day of _______ I have paid Rs. ____________ (Rupees ___________________________________________________________________________________) in part payment of the within mentioned pronote debt.
(Signed) _____________
Address: ____________
Acknowledgement of partial payment by endorsement on a promissory note
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About this template
What is this template?
This is a brief evidentiary record intended to be physically written or stamped on an original promissory note. It is not a standalone loan agreement or a release of debt, but specifically an acknowledgment of a partial payment amount in Rupees.
When should you use it?
Use this when a debtor pays a portion of the principal or interest due on a promissory note and both parties require a record on the instrument itself; use a Debt Settlement Agreement if the payment resolves the entire debt for a lesser amount.
What's inside
| Clause | Name | What it does |
|---|---|---|
| — | Acknowledgment of Payment | Records the specific amount paid in Indian Rupees as part-payment of the underlying promissory note debt on a specific date. |
| — | Debtor Identification | Captures the signature and physical address of the person making the payment to authenticate the endorsement. |
Who it's for
- a borrower in India making a partial repayment of a debt evidenced by a promissory note
- a lender requiring written proof of part-payment to update the outstanding balance of a pronote
How long it runs and how it's signed
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