The Promissory Note For Late Rental Payment is a critical document used in the Philippine real estate market when tenants fall behind on their rental payments. It serves as a formal acknowledgment of debt and a legally binding commitment to pay, transforming an outstanding rental obligation into a documented promise to pay. This document becomes necessary when a tenant has accumulated rental arrears but demonstrates willingness to settle the debt, typically through a structured payment plan. The note must comply with Philippine legislation, including the Civil Code, Rent Control Act, and regulations on interest rates. It should clearly state the amount owed, payment terms, interest rates, and consequences of default. This document provides landlords with additional legal security while offering tenants a formal framework to resolve their rental debt, often helping avoid immediate legal action or eviction proceedings.
Your data doesn't train Genie's AI
You keep IP ownership聽of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let 抖阴视频's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Date and Place of Execution: Specifies when and where the promissory note is executed, which is crucial for legal validity and enforcement
2. Parties Identification: Complete names and addresses of the debtor (tenant) and creditor (landlord)
3. Acknowledgment of Debt: Clear statement of the total amount owed for late rental payments, including the rental periods covered
4. Payment Terms: Detailed description of how and when the debt will be paid, including installment amounts and due dates if applicable
5. Interest Rate: Specification of any applicable interest rate on the late payment, ensuring compliance with Philippine usury laws
6. Default Provisions: Consequences of failing to pay according to the agreed terms
7. Signature Block: Space for signatures of the debtor, creditor, and witnesses
1. Collateral: Used when specific assets are pledged as security for the debt
2. Guarantor Details: Include when a third party is guaranteeing the payment of the debt
3. Acceleration Clause: Optional provision that makes the entire debt due immediately upon default of any installment
4. Attorney's Fees: Provision for legal fees in case of enforcement, if agreed upon
5. Waiver of Notice: Optional clause where debtor waives right to formal notice of default
6. Venue of Legal Actions: Specify preferred venue for legal proceedings in case of disputes
1. Schedule A - Payment History: Detailed breakdown of previous rental payments and amounts in arrears
2. Schedule B - Payment Plan: Detailed installment schedule if the debt is to be paid in multiple payments
3. Schedule C - Property Details: Description of the rental property and original lease terms
4. Appendix 1 - Copy of Lease Agreement: Reference copy of the original lease agreement
5. Appendix 2 - Statement of Account: Detailed computation of total amounts due including any penalties or interest
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Management
Residential Housing
Commercial Property
Retail
Office Space
Industrial Properties
Healthcare Facilities
Hospitality
Education
Relevant Teams
Legal
Real Estate
Property Management
Facilities Management
Operations
Risk Management
Compliance
Collections
Tenant Relations
Administrative Services
Relevant Roles
Property Manager
Real Estate Manager
Leasing Manager
Legal Counsel
Corporate Lawyer
Rental Administrator
Estate Agent
Property Administrator
Facilities Manager
Compliance Officer
Real Estate Agent
Tenant Relations Manager
Collections Manager
Housing Administrator
Legal Administrator
Find the exact document you need
Promissory Note For House Payment
A Philippine law-compliant financial instrument documenting a promise to pay for property through installments, including payment terms and security provisions.
find out more
Promissory Note For Unpaid Balance
A Philippine law-governed financial instrument documenting a promise to pay an outstanding balance with specified terms and conditions.
find out more
Promissory Note For Medical Bill
A Philippine law-governed document establishing a patient's legal commitment to pay for medical services received, including payment terms and conditions.
find out more
Promissory Note For Car Loan
A Philippine-law governed promissory note documenting a secured loan for vehicle purchase, including payment terms and security interest details.
find out more
Promissory Note For Late Rental Payment
A Philippine law-governed document that formalizes a tenant's promise to pay overdue rent, including payment terms and conditions.
find out more
Construction Promissory Note
A Philippine-law governed promissory note specifically designed for construction projects, documenting a legally binding promise to pay for construction services or materials.
find out more
Promissory Note For Housing Loan
A Philippine-compliant legal document evidencing a borrower's promise to repay a housing loan, including loan terms and property details as collateral.
find out more
Promissory Note For Tuition
A Philippine-compliant promissory note documenting a student's or guardian's formal promise to pay tuition fees to an educational institution.
find out more
Promissory Note For Late Payment
A Philippine law-governed document containing a formal promise to pay an overdue debt, specifying new payment terms and conditions.
find out more
Promissory Note
A Philippine law-governed financial instrument containing a written promise to pay a specified sum of money, compliant with local Negotiable Instruments Law and Civil Code requirements.
find out more
Promissory Note For Remaining Balance
A Philippine law-compliant financial document establishing terms for paying a remaining balance, including payment schedule and obligations of all parties.
find out more
Straight Note Loan
A Philippine law-governed loan agreement for a single-payment loan with interest due at maturity.
find out more
Secured Demand Note
A Philippine law-governed financial instrument creating a secured debt obligation payable on demand, combining features of a promissory note with security interests in specific assets.
find out more
Debt Promissory Note
A Philippine law-governed document evidencing a promise to pay a specified sum of money, including terms of repayment and interest.
find out more
Promissory Note To Follow Documents
A Philippine law-governed financial instrument committing payment against future delivery of trade documents, commonly used in international trade finance.
find out more
Promissory Note For Honorable Dismissal
A Philippine legal document establishing a student's promise to pay outstanding obligations to secure an honorable dismissal certificate from an educational institution.
find out more
Promissory Note To Pay Remaining Balance
A Philippine law-governed financial instrument documenting a promise to pay a remaining balance, setting forth payment terms and conditions under the Negotiable Instruments Law.
find out more
Promissory Note For Examination Payment
A Philippine law-compliant promissory note specifically designed for guaranteeing payment of examination fees to educational institutions or examination providers.
find out more
Loan Note
A Philippine law-governed document establishing the terms and conditions of a loan agreement, including principal, interest, and repayment terms.
find out more
Unsecured Promissory Note
A Philippine law-governed financial instrument documenting an unsecured promise to pay a specified sum of money, creating a legally binding obligation between maker and payee.
find out more
Standard Promissory Note
A legally binding written promise to pay a specified sum of money under Philippine law, governed by the Negotiable Instruments Law and Civil Code.
find out more
Secured Promissory Note
A Philippine law-governed financial instrument combining a promise to pay with security interests in collateral, establishing loan terms and creditor protection through asset backing.
find out more
Promissory Note For Tuition Fee With Partial Payment
A Philippine-law governed promissory note establishing terms for partial payment of tuition fees between educational institutions and students/guardians.
find out more
Promissory Note For Lacking Documents
A Philippine legal instrument that documents a debt obligation while acknowledging and accounting for temporarily missing formal documentation, governed by Philippine commercial and civil law.
find out more
Promissory Note For Delayed Payment
A legal financial instrument under Philippine law documenting a promise to pay a specified sum at a future date, governed by the Negotiable Instruments Law and Civil Code.
find out more
Promise Promissory Note For Hospital Bill
A Philippine-compliant promissory note documenting a patient's commitment to pay outstanding hospital bills, including payment terms and conditions.
find out more
Government Promissory Note
A Philippine government debt instrument representing an unconditional promise to pay a specified sum with interest, governed by Philippine law.
find out more
Convertible Promissory Note
A Philippine law-governed debt instrument that can convert into company equity shares under specified conditions, combining elements of both debt and potential future equity investment.
find out more
Time Promissory Note
A Philippine-compliant financial instrument containing a written promise to pay a specific sum of money at a future date, governed by local Negotiable Instruments Law.
find out more
Straight Promissory Note
A Philippine-law governed financial instrument containing an unconditional promise to pay a specified sum of money at a determined future date or on demand.
find out more
Senior Promissory Note
A Philippine law-governed financial instrument establishing a senior-ranking promise to pay a specified sum with defined terms and conditions.
find out more
Promissory Note With Collateral
A Philippine law-governed financial instrument combining a promise to pay with collateral security provisions, creating a secured debt obligation.
find out more
Promissory Note Letter
A Philippine law-compliant written promise to pay a specific sum of money, detailing payment terms and conditions under Philippine banking and commercial regulations.
find out more
Promissory Note Installment Payments
A Philippine law-governed financial document establishing a promise to pay a specified sum through scheduled installment payments, with defined terms and conditions.
find out more
Non Recourse Promissory Note
A Philippine-law governed promissory note limiting the lender's recovery rights exclusively to specified collateral, with no recourse to the borrower's other assets.
find out more
Full Recourse Promissory Note
A Philippine-law governed promissory note providing lenders with full recourse to the borrower's assets for debt recovery.
find out more
Promissory Note For Family Loan
A legally binding document under Philippine law that formalizes and documents monetary loans between family members, establishing repayment terms and conditions.
find out more
Unsecured Promissory Note Installment Payments
A Philippine-law governed promissory note documenting an unsecured loan repayable in installments, including payment terms and interest calculations compliant with local regulations.
find out more
Promissory Note Shareholder Loan To Corporation
A Philippine law-governed promissory note documenting a loan from a shareholder to their corporation, establishing loan terms and conditions.
find out more
Partial Claim Promissory Note
A Philippine law-governed financial instrument documenting a promise to pay a specific portion of a larger debt obligation, with defined payment terms and conditions.
find out more
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 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
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)