The Employee Promissory Note is a specialized financial instrument used in Canadian business contexts when an employer extends a loan to an employee. This document type is commonly utilized for various purposes such as relocation assistance, educational support, equipment purchases, or emergency financial aid. The Employee Promissory Note must comply with Canadian federal and provincial regulations, including employment standards, interest rate regulations, and privacy laws. It serves to protect both employer and employee interests by clearly documenting the loan terms, repayment obligations, and the relationship between the debt and employment status. The document becomes particularly important in situations involving employment termination, loan default, or wage deductions, and must be structured to ensure enforceability under Canadian law while maintaining fairness to both parties.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc
1. Parties: Identification of the employer (lender) and employee (borrower) with full legal names and addresses
2. Background: Context of the promissory note, including employment relationship and reason for the loan
3. Definitions: Key terms used throughout the document including 'Principal Amount', 'Interest Rate', 'Maturity Date', etc.
4. Promise to Pay: Clear statement of the debt obligation, principal amount, and basic repayment commitment
5. Interest Rate: Specification of interest rate, calculation method, and compounding frequency
6. Payment Terms: Details of payment schedule, installment amounts, and payment methods
7. Prepayment Rights: Terms regarding early repayment rights and any associated penalties or benefits
8. Events of Default: Circumstances constituting default and consequences thereof
9. Employment Relationship: Impact of employment termination or status changes on the loan repayment
10. Representations and Warranties: Employee's confirmations regarding their understanding and ability to repay
11. Governing Law: Specification of applicable Canadian jurisdiction
12. Execution: Signature blocks and date of execution
1. Security: Terms of any collateral or security provided for the loan - include when the loan is secured
2. Wage Deduction Authorization: Authorization for employer to deduct payments from wages - include when payroll deduction is the payment method
3. Loan Forgiveness Terms: Conditions under which portions of the loan may be forgiven - include when loan includes forgiveness provisions
4. Co-Signer Provisions: Terms applying to any co-signer - include when a guarantor is required
5. Insurance Requirements: Required insurance coverage on any secured assets - include when loan is secured by specific assets
6. Tax Implications: Acknowledgment of tax consequences - include when loan terms have specific tax implications
7. Dispute Resolution: Alternative dispute resolution procedures - include when specific dispute resolution mechanisms are desired
1. Schedule A - Repayment Schedule: Detailed amortization schedule showing payment dates and amounts
2. Schedule B - Loan Calculation Details: Breakdown of loan amount, including any fees or charges incorporated into principal
3. Schedule C - Security Details: Description of any collateral or security arrangements
4. Appendix 1 - Wage Deduction Form: Standard form for payroll deduction authorization if applicable
5. Appendix 2 - Loan Statement: Initial loan statement showing principal amount and terms
Relevant legal definitions
Agreement
Business Day
Default Event
Default Interest Rate
Effective Date
Employee
Employer
Employment Agreement
Interest Rate
Loan
Maturity Date
Outstanding Balance
Payment Date
Payment Schedule
Principal Amount
Province
Regular Interest Rate
Repayment Period
Security Interest
Term
Termination Date
Wage Deduction
Witness
Work Location
Business Day
Default Event
Default Interest Rate
Effective Date
Employee
Employer
Employment Agreement
Interest Rate
Loan
Maturity Date
Outstanding Balance
Payment Date
Payment Schedule
Principal Amount
Province
Regular Interest Rate
Repayment Period
Security Interest
Term
Termination Date
Wage Deduction
Witness
Work Location
Clauses
Loan Amount and Terms
Interest Rate and Calculation
Payment Terms
Default and Remedies
Security Interest
Employment Relationship
Termination Effects
Prepayment Rights
Representations and Warranties
Notice Requirements
Assignment and Transfer
Modification and Amendment
Severability
Wage Deduction Authorization
Governing Law
Dispute Resolution
Entire Agreement
Force Majeure
Indemnification
Tax Implications
Confidentiality
Survival
Waiver
Electronic Execution
Interest Rate and Calculation
Payment Terms
Default and Remedies
Security Interest
Employment Relationship
Termination Effects
Prepayment Rights
Representations and Warranties
Notice Requirements
Assignment and Transfer
Modification and Amendment
Severability
Wage Deduction Authorization
Governing Law
Dispute Resolution
Entire Agreement
Force Majeure
Indemnification
Tax Implications
Confidentiality
Survival
Waiver
Electronic Execution
Relevant Industries
Financial Services
Technology
Manufacturing
Professional Services
Healthcare
Retail
Construction
Education
Mining
Energy
Transportation
Telecommunications
Real Estate
Hospitality
Agriculture
Relevant Teams
Human Resources
Finance
Legal
Payroll
Executive Leadership
Risk Management
Compliance
Treasury
Employee Relations
Compensation and Benefits
Relevant Roles
Chief Financial Officer
Human Resources Director
Finance Manager
Payroll Manager
Legal Counsel
HR Business Partner
Benefits Administrator
Compensation Specialist
Employee Relations Manager
Chief Executive Officer
Corporate Controller
Accounting Manager
Treasury Manager
Risk Management Officer
Compliance Officer
Find the exact document you need
Note Secured By (Real Estate)
A Canadian legal document establishing a debt obligation secured by real estate property, combining promissory note elements with security features.
Download
Landlord Tenant Promissory Note For Rent Payment
A Canadian legal document that formalizes a tenant's promise to pay outstanding or future rent payments to their landlord, governed by federal and provincial laws.
Download
Promissory Note For Funeral
A Canadian legal document establishing a promise to pay for funeral services, governed by federal and provincial regulations.
Download
Promissory Note For Late Rental Payment
A Canadian legal document formalizing an agreement between landlord and tenant for the repayment of overdue rent, including payment terms and conditions.
Download
Straight Note (Real Estate)
A Canadian legal document establishing a secured real estate debt obligation, detailing repayment terms and property security arrangements.
Download
Simple Promissory Note For Family Loan
A Canadian legal document that formalizes and documents the terms of a loan between family members, ensuring clarity and legal compliance while protecting both parties' interests.
Download
Promissory Note For Real Estate Purchase
A Canadian legal document evidencing a borrower's promise to pay a specified sum for real estate purchase, governed by federal and provincial laws.
Download
Unconditional Promissory Note
A Canadian legal document containing an unconditional written promise to pay a specified sum of money, governed by federal and provincial laws including the Bills of Exchange Act.
Download
Cash Promissory Note
A Canadian legal document containing a written, signed, and unconditional promise to pay a specified sum of money to a named party, either on demand or at a defined future date.
Download
Installment Promissory Note
A Canadian law-governed installment promissory note establishing structured repayment terms for a debt obligation with scheduled payments.
Download
International Promissory Note
A Canadian-law governed promissory note for international transactions, documenting a formal promise to pay with cross-border considerations.
Download
Trust Deed And Note
A Canadian legal document establishing a trust structure combined with a debt instrument, setting out trust arrangements and note terms under federal and provincial legislation.
Download
Promissory Note Letter For Delayed Payment
A Canadian legal document containing a written promise to pay a specified sum of money at a future date, governed by federal and provincial laws.
Download
Promissory Note For Car
A Canadian legal document combining a promissory note with vehicle security provisions, documenting a borrower's promise to repay a car loan.
Download
Promissory Note Compound Interest
A Canadian legal document evidencing a debt obligation with compound interest terms, compliant with federal and provincial lending laws.
Download
Senior Promissory Note
A Canadian-law governed debt instrument documenting a senior-ranking promise to pay a specified sum with defined payment terms and conditions.
Download
Recourse Promissory Note
A Canadian-law governed financial instrument documenting a borrower's promise to repay a debt, with the lender maintaining recourse rights against the borrower's other assets.
Download
Promissory Note With Real Estate Mortgage
A Canadian legal document combining a promissory note with real estate mortgage security, subject to federal and provincial laws, used to evidence and secure debt against property.
Download
Promissory Note With Collateral
A Canadian legal document combining a promise to pay with security interests in collateral, governed by federal and provincial legislation including the Bills of Exchange Act and PPSA.
Download
Promissory Note Repayment Schedule
A Canadian-law governed document that establishes the detailed repayment schedule and terms for a promissory note, including payment amounts, frequencies, and due dates.
Download
Promissory Note Cosigner Agreement
Canadian legal agreement establishing a cosigner's guarantee of a promissory note, outlining obligations and responsibilities under federal and provincial law.
Download
Promissory Note Convertible To Equity
A Canadian-law governed convertible debt instrument that allows for the conversion of a loan into equity shares under specified conditions, commonly used in early-stage financing.
Download
Promissory Note Secured By A Deed Of Trust
A Canadian legal instrument combining a promissory note with real property security through a trust deed arrangement, establishing loan terms and security rights under Canadian law.
Download
Generic Promissory Note
A Canadian-law governed document containing a written promise to pay a specified sum of money, including payment terms and conditions.
Download
Standby Promissory Note
A Canadian law-governed contingent payment instrument that combines features of traditional promissory notes with standby payment obligations, becoming payable upon specific triggering events.
Download
Refinance Promissory Note
A Canadian legal document evidencing a borrower's promise to repay a refinanced debt under new terms, complying with federal and provincial lending regulations.
Download
Partial Claim Promissory Note
A Canadian legal document establishing terms for partial debt payment arrangements, governed by federal and provincial legislation.
Download
Consumer Promissory Note
A legally binding financial document used in Canada that records a consumer's promise to repay a specific sum of money to a lender, subject to federal and provincial consumer protection laws.
Download
Promissory Note From Corporation To Shareholder
A Canadian law-governed promissory note documenting a corporation's legally binding promise to repay a specified sum to a shareholder, including payment terms and conditions.
Download
Old Promissory Note
A Canadian-law governed financial instrument documenting an unconditional promise to pay a specific sum of money, structured according to federal and provincial requirements.
Download
Multiple Advance Promissory Note
A Canadian-law governed financial instrument that establishes terms for multiple loan advances up to a maximum amount, including draw conditions, interest, and repayment terms.
Download
Simple Note Payable
A Canadian-compliant legal document evidencing a promise to pay a specified sum of money with defined interest rates and payment terms.
Download
Unsecured Promissory Note Issued By A Corporation
A Canadian law-governed unsecured promissory note template for corporate borrowers, establishing terms for repayment of debt without collateral.
Download
Credit Card Promissory Note
A Canadian legal document that converts credit card debt into a formal promise to pay, establishing repayment terms and conditions under Canadian federal and provincial laws.
Download
6 Month Promissory Note
A Canadian law-governed financial instrument documenting a six-month promise to pay a specified sum with defined interest and payment terms.
Download
Promissory Note With Balloon Payment
A Canadian-law governed financial instrument documenting a debt obligation with regular payments and a larger final balloon payment, including interest terms and security provisions.
Download
Personal Promissory Note
A Canadian legal document establishing a promise to pay a specific sum of money under defined terms, governed by federal and provincial legislation.
Download
Secured Demand Promissory Note
A Canadian legal document combining a demand promissory note with security interests in collateral, governed by federal and provincial laws.
Download
Renewal Promissory Note
A Canadian legal document that renews and potentially modifies an existing promissory note, establishing new payment terms while maintaining the original debt obligation.
Download
Interest Only Promissory Note With Balloon Payment
A Canadian promissory note structure where the borrower makes interest-only payments with a final balloon payment of the principal at maturity.
Download
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
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)
.png)