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North Dakota Unsecured Promissory Note

Create North Dakota Unsecured Promissory Note — $7.99

Not a blank template — your details are filled in, formatted to North Dakota law, and ready to sign.

Create a legally conforming Unsecured Promissory Note for North Dakota that incorporates all required terms under North Dakota promissory note law. Fill in your loan details and download your completed, ready-to-sign Unsecured Promissory Note as a professional PDF.

North Dakota law governs promissory notes with specific usury limits and enforcement rules that defends both note holder and borrower. The usury limit in North Dakota is 5.5% above Bank of North Dakota base rate. Lenders have 6 years to file suit to collect on a promissory note in North Dakota. North Dakota law requires 3 specific elements in a valid promissory note.

North Dakota Promissory Note Requirements

Max Interest Rate 12%
Rate Details 5.5% above Bank of North Dakota base rate
Usury Penalty All interest forfeited plus 25% of principal
Statute of Limitations 6 years
Notarization Recommended
Witnesses Recommended (1)
Governing Agency North Dakota District Courts
Required Elements Written agreement signed by borrower; Clear repayment terms; Interest rate disclosure

What to Include in a North Dakota Unsecured Promissory Note

Every Unsecured Promissory Note in North Dakota should include the following vital provisions: the full legal names and addresses of both the creditor and borrowing party, the principal loan amount, the interest rate (which must not exceed 5.5% above Bank of North Dakota base rate under North Dakota law), the repayment schedule and due dates, any late payment penalties, the consequences of default, and the governing law clause.

North Dakota requires the following elements in a valid promissory note: written agreement signed by borrower, clear repayment terms, interest rate disclosure.

How to Complete a North Dakota Unsecured Promissory Note

To complete a Unsecured Promissory Note in North Dakota, start by gathering the necessary information: the full legal names and addresses of both parties, the loan amount, the agreed-upon interest rate (must be at or below 5.5% above Bank of North Dakota base rate in North Dakota), the repayment terms, and any collateral details if applicable.

Our platform walks you through each section with a guided form tailored to North Dakota requirements. Once you have filled in all details, you can preview the document, choose from five professional document styles, and download your completed Unsecured Promissory Note as a PDF.

Frequently Asked Questions

Is a promissory note legally binding in North Dakota?
Yes. A properly executed promissory note is a legally enforceable contract in North Dakota. To be binding, it must identify both parties, state the loan amount and repayment terms, and be signed by the borrower. While notarization is not required in North Dakota, it is recommended to add an extra layer of authenticity. Lenders have 6 years to pursue legal action to collect on a defaulted note.
What is the maximum interest rate for a promissory note in North Dakota?
North Dakota imposes a usury limit of 5.5% above Bank of North Dakota base rate. Charging interest above the legal limit is considered usury and can result in penalties — in North Dakota, the consequence is: all interest forfeited plus 25% of principal.
Do I need a notary for a promissory note in North Dakota?
Notarization is not required for a promissory note to be legally valid in North Dakota. However, notarizing the document is strongly recommended — it deters forgery claims, simplifies enforcement in court, and makes the note self-authenticating as evidence. Having 1 witness is also recommended.
What happens if the borrower defaults on a promissory note in North Dakota?
If the borrower defaults, the lender may demand immediate repayment of the full outstanding balance, charge any default interest rate specified in the note, and pursue legal action in North Dakota court. Lenders have 6 years from the date of default to file a lawsuit under North Dakota's statute of limitations for written contracts.
What must be included in a North Dakota Unsecured Promissory Note?
A valid Unsecured Promissory Note in North Dakota must include: Written agreement signed by borrower; Clear repayment terms; Interest rate disclosure. Our platform automatically includes all required elements for North Dakota in your generated document, formatted to meet state standards.

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