The Employee Loan Promissory Note is a crucial document used when an employer provides financial assistance to an employee through a formal loan arrangement. This document, governed by New Zealand law, serves to protect both parties by clearly documenting the loan terms, repayment obligations, and consequences of various scenarios such as default or employment termination. It is particularly important in ensuring compliance with New Zealand's financial and employment regulations, including the Credit Contracts and Consumer Finance Act 2003 and the Employment Relations Act 2000. The document is typically used when companies offer employee loans as part of their benefits package, for personal hardship assistance, or as part of a broader employment arrangement.
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 Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identifies the employer (lender) and employee (borrower) with their full legal names and addresses
2. Background: Establishes the employment relationship and context for the loan
3. Definitions: Defines key terms used throughout the document
4. Loan Amount and Purpose: Specifies the principal amount of the loan and its intended purpose
5. Interest Rate: Details the applicable interest rate and how it is calculated
6. Repayment Terms: Specifies the repayment schedule, payment amounts, and payment methods
7. Payroll Deductions: Details the agreement for loan repayments through salary deductions
8. Early Repayment: Outlines the borrower's right to make early repayments and any associated conditions
9. Default Provisions: Defines what constitutes a default and the consequences
10. Employment Termination: Specifies what happens to the loan if employment ends
11. Governing Law: Specifies that New Zealand law governs the agreement
1. Security: Include when the loan is secured against specific assets or guarantees
2. Insurance Requirements: Include when insurance is required to secure the loan
3. Loan Forgiveness Terms: Include when there are conditions under which part or all of the loan may be forgiven
4. Tax Implications: Include when there are specific tax considerations, especially for below-market interest rates
5. Deferment Rights: Include when the agreement allows for payment deferment under certain circumstances
6. Co-Signer Provisions: Include when a co-signer is required for the loan
7. Dispute Resolution: Include when specific dispute resolution procedures are desired beyond standard legal remedies
1. Repayment Schedule: Detailed breakdown of payment dates, amounts, and allocation between principal and interest
2. Loan Calculation Details: Shows the detailed calculation of interest rates, payment amounts, and total repayment amount
3. Payroll Deduction Authorization: Formal authorization for the employer to make payroll deductions for loan repayment
4. Tax Treatment Summary: Summary of tax implications and calculations, particularly for below-market interest rate loans
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Professional Services
Technology
Manufacturing
Retail
Healthcare
Education
Construction
Mining
Agriculture
Hospitality
Transportation
Real Estate
Energy
Telecommunications
Relevant Teams
Human Resources
Finance
Legal
Payroll
Compliance
Risk Management
Employee Relations
Corporate Secretariat
Relevant Roles
Human Resources Manager
Finance Manager
Chief Financial Officer
Legal Counsel
Employment Lawyer
Payroll Manager
Benefits Administrator
HR Director
Financial Controller
Compliance Officer
Company Secretary
Employee Relations Manager
HR Business Partner
Finance Director
Risk Manager
Find the exact document you need
Personal Loan Letter Between Friends
A New Zealand-compliant document that formalizes a personal loan agreement between friends, including loan terms, repayment conditions, and legal safeguards.
Download
Written Loan Agreement
A New Zealand-compliant agreement setting out the terms and conditions of a loan, including amount, interest, repayment terms, and parties' obligations.
Download
Small Loan Contract
A New Zealand-compliant small loan agreement template that sets out terms, conditions, and obligations for both lender and borrower under NZ law.
Download
Pro Forma Loan Agreement
New Zealand-compliant loan agreement template setting out terms for lending arrangements, suitable for both commercial and consumer lending scenarios.
Download
Revolving Credit Contract
A New Zealand law-governed agreement establishing a revolving credit facility between a lender and borrower, compliant with CCCFA requirements.
Download
Loan Car Form
A New Zealand-compliant legal form for temporary vehicle loans, establishing terms and conditions between vehicle providers and borrowers.
Download
Loan Agreement With Interest
A New Zealand-governed agreement establishing terms for a loan with interest, including repayment conditions and statutory requirements.
Download
Money Loan Agreement
A New Zealand-compliant agreement establishing terms and conditions for a monetary loan between a lender and borrower, including repayment terms and obligations.
Download
Family Member Promissory Note
A New Zealand-compliant promissory note documenting loan terms between family members, including principal amount, interest, and repayment conditions.
Download
Debt Consolidation Agreement
A New Zealand-compliant agreement for consolidating multiple debts into a single loan, including terms, conditions, and statutory disclosures.
Download
Vendor Finance Loan Agreement
A New Zealand-compliant agreement enabling vendor-provided financing for purchase of goods or services, including loan terms and security arrangements.
Download
Fixed Sum Loan Agreement Early Settlement
New Zealand-governed fixed-sum loan agreement with early settlement provisions, compliant with CCCFA requirements.
Download
Acknowledgement Of Debt Agreement
A New Zealand-compliant legal document where a debtor formally acknowledges their debt obligation and agrees to specific repayment terms.
Download
Mortgage Spreader Agreement
A New Zealand legal document that extends an existing mortgage security to cover additional properties, compliant with NZ property law requirements.
Download
Debt Payment Agreement
A New Zealand-compliant agreement that formalizes debt repayment terms between a creditor and debtor, including payment schedule, interest rates, and default provisions.
Download
Loan Repayment Contract
A New Zealand-compliant agreement setting out terms and conditions for loan repayment between lender and borrower, including payment schedules and obligations.
Download
Discounted Payoff Agreement
A New Zealand law-governed agreement that documents the settlement of an outstanding debt for a reduced amount, specifying payment terms and discharge conditions.
Download
Overagreement
A New Zealand law-governed master agreement that establishes overarching terms for multiple underlying agreements between parties.
Download
Litigation Financing Agreement
A New Zealand-governed agreement establishing terms for third-party funding of legal proceedings, including funding commitments, returns, and risk allocation.
Download
Promise Note
A legally binding financial document under New Zealand law containing an unconditional promise to pay a specified sum of money to a designated party.
Download
Peer To Peer Lending Contract
A New Zealand-compliant agreement establishing terms and conditions for peer-to-peer lending arrangements between lenders, borrowers, and P2P platforms.
Download
Debt Agreement Contract
A New Zealand-compliant agreement establishing terms and conditions for lending arrangements between parties, including loan details, repayment terms, and legal obligations.
Download
Loan Repayment Letter
A New Zealand-compliant formal letter outlining loan repayment terms and schedule between a lender and borrower.
Download
Letter To Borrow Money From Friend
A formal letter document under New Zealand law that outlines the terms and conditions of borrowing money from a friend, including loan amount, repayment terms, and mutual obligations.
Download
Contract For Land Purchase
A New Zealand-compliant legal agreement for the sale and purchase of land, detailing property transfer terms and conditions between vendor and purchaser.
Download
General Loan Agreement
A New Zealand-compliant loan agreement template establishing terms for lending arrangements, suitable for both commercial and personal lending purposes.
Download
Loan Novation Agreement
A New Zealand law-governed agreement that transfers loan obligations from an original borrower to a new borrower while maintaining the original lender's rights.
Download
Student Loan Agreement
A New Zealand-governed agreement establishing terms and conditions for government-provided student loans, including loan amounts, repayment terms, and borrower obligations.
Download
Simple Loan Application Form
A New Zealand-compliant loan application form for gathering applicant information and assessing creditworthiness under local lending regulations.
Download
Payday Loan Contract
New Zealand-compliant payday loan agreement template incorporating CCCFA requirements and consumer protections for short-term lending.
Download
Loan Guarantee
A New Zealand-governed agreement where a guarantor assumes responsibility for another party's loan obligations to a lender.
Download
Investment Loan Contract
New Zealand-governed agreement establishing terms for investment-purposed lending, including loan terms, security arrangements, and regulatory compliance requirements.
Download
Debt Repayment Contract
A New Zealand-compliant agreement establishing terms and schedule for debt repayment between creditor and debtor.
Download
Employee Laptop Loan Agreement
A New Zealand-compliant agreement governing the loan of company laptop equipment to employees, including usage terms and return conditions.
Download
Borrowing Form
A New Zealand-compliant borrowing form that establishes loan terms and conditions between lender and borrower, incorporating CCCFA requirements.
Download
Device Loan Agreement
A New Zealand-compliant agreement governing the temporary loan of devices from an organization to individuals, establishing usage terms and responsibilities.
Download
Simple Equipment Borrowing Agreement
A New Zealand-compliant agreement for temporary equipment lending, establishing terms for equipment use, maintenance, and return conditions.
Download
Loan Out Agreement
A New Zealand-governed agreement for the provision of individual services through a loan-out company structure to an engaging business.
Download
No Loan Agreement
A New Zealand-governed agreement that formally documents the non-existence of a loan between parties or confirms that a previous loan has been fully satisfied.
Download
Memorandum Of Loan Agreement
A New Zealand-compliant agreement that establishes the terms and conditions of a loan between parties, including principal amount, interest, repayment terms, and obligations.
Download
ұԾ’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; ұԾ’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)