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The Unsecured Promissory Note Installment Payments document is essential for formalizing loan agreements in the Philippines where collateral is not required or available. It serves as a legally binding instrument under Philippine law, commonly used in both commercial and personal lending scenarios. The document is structured to comply with the Civil Code of the Philippines, the New Central Bank Act, and the Truth in Lending Act, providing a clear framework for installment-based repayment of loans. It's particularly useful for business financing, personal loans, and commercial transactions where parties prefer or require structured payment plans without the complexity of collateral arrangements. The document includes comprehensive details about the loan amount, interest rate, payment schedule, and default provisions, ensuring transparency and enforceability under Philippine jurisdiction.

1. Parties: Identification of the Maker (Borrower/Promisor) and Payee (Lender/Promisee) with complete legal names and addresses

2. Background: Brief context of the loan agreement and purpose of the promissory note

3. Definitions: Key terms used throughout the document including 'Principal Amount', 'Interest Rate', 'Payment Date', 'Installment Payment', etc.

4. Promise to Pay: Clear statement of the unconditional promise to pay the principal amount with specified interest

5. Principal Amount: The total amount being borrowed, expressed in both numbers and words

6. Interest Rate: Specification of the interest rate, calculation method, and compliance with Philippine usury laws

7. Payment Terms: Detailed structure of installment payments including amount, frequency, and due dates

8. Method of Payment: Acceptable payment methods and where/how payments should be made

9. Default Provisions: Consequences of missing payments and definition of events of default

10. Acceleration Clause: Conditions under which the entire amount becomes immediately due and payable

11. Governing Law: Specification that the note is governed by Philippine law

12. Execution: Signature blocks for all parties and notarization requirements