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A Simple Promissory Note For Personal Loan is a fundamental legal instrument used in the United Arab Emirates when one party (the maker/borrower) promises to pay a specific sum of money to another party (the payee/lender). This document is particularly useful for personal lending arrangements and is governed by UAE Federal Law No. 18 of 1993 (Commercial Transactions Law) and UAE Federal Law No. 5 of 1985 (Civil Code). The document must contain certain mandatory elements including the amount borrowed, payment terms, and parties' details to be legally enforceable. It serves as both a proof of debt and a legally binding promise to repay, making it a crucial document for personal lending transactions in the UAE.

1. Title and Date: Clear identification as a Promissory Note with execution date

2. Maker's Details: Full legal name, Emirates ID number, and address of the person making the promise to pay

3. Payee's Details: Full legal name and address of the person to whom the payment is to be made

4. Promise to Pay: Unconditional promise to pay with the specific amount in both numbers and words

5. Payment Terms: Due date or payment schedule, including whether payable on demand or at a specific time

6. Interest Rate: Specification of any applicable interest rate (if any) in compliance with UAE law

7. Place of Payment: Specification of where the payment is to be made

8. Signature Block: Space for maker's signature, date, and witness signatures