The Promissory Note With Payment Schedule is a crucial financial instrument in Malaysian business and lending practices, designed to formalize debt obligations while providing a clear structure for repayment. This document type is commonly used when parties need to establish a legally binding commitment for the repayment of funds with specific installment terms. It combines the simplicity and enforceability of a standard promissory note with a detailed payment schedule, making it particularly valuable for business loans, property transactions, and structured financial arrangements. The document must comply with Malaysian legislation, particularly the Bills of Exchange Act 1949 and the Contracts Act 1950, and requires proper stamping under the Stamp Act 1949 to be admissible in Malaysian courts. It serves as both a proof of debt and a practical payment management tool.

1. Parties: Identification of the Maker (Promisor) and the Payee (Promisee) with full legal names and addresses

2. Promise to Pay: Clear statement of the unconditional promise to pay, including the principal amount in both numbers and words

3. Payment Terms: Details of the payment schedule including installment amounts, due dates, and payment method

4. Interest Rate: Specification of any applicable interest rate and how it is calculated

5. Place of Payment: Specification of where and how payments should be made

6. Default Provisions: Consequences of missing payments and definition of what constitutes default

7. Governing Law: Statement that the note is governed by Malaysian law

8. Execution: Signature blocks for all parties and witnesses