{"id":2449,"date":"2026-06-22T11:25:36","date_gmt":"2026-06-22T04:25:36","guid":{"rendered":"https:\/\/www.thailawonline.com\/promissory-note-in-thailand\/"},"modified":"2026-07-16T23:20:40","modified_gmt":"2026-07-16T16:20:40","slug":"promissory-note-in-thailand","status":"publish","type":"page","link":"https:\/\/www.thailawonline.com\/fr\/promissory-note-in-thailand\/","title":{"rendered":"Billet \u00e0 ordre en Tha\u00eflande\u00a0: droit, utilisations et risques"},"content":{"rendered":"

You lent a friend 500,000 baht. He signed a paper that says “promissory note” and promised to pay you back. Is that worth anything in a Thai court? Yes. And in some ways it is stronger than a loan contract. But it carries one trap that catches lenders out every year.<\/p>\n

A promissory note in Thailand (\u0e15\u0e31\u0e4b\u0e27\u0e2a\u0e31\u0e0d\u0e0d\u0e32\u0e43\u0e0a\u0e49\u0e40\u0e07\u0e34\u0e19) is a negotiable instrument. The law treats it very differently from an ordinary loan agreement.<\/p>\n

Download the bilingual Promissory Note template \u00b7 \u0e14\u0e32\u0e27\u0e19\u0e4c\u0e42\u0e2b\u0e25\u0e14\u0e41\u0e21\u0e48\u0e41\u0e1a\u0e1a\u0e15\u0e31\u0e4b\u0e27\u0e2a\u0e31\u0e0d\u0e0d\u0e32\u0e43\u0e0a\u0e49\u0e40\u0e07\u0e34\u0e19<\/h2>\n
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A one-page bilingual note (EN\/TH) with all seven particulars required by Section 983<\/strong>, a stamp-duty box, an aval (guarantee) section<\/strong>, a corporate signing block, a payment-record page, and a plain-language how-to guide. You get an editable Word file<\/strong> and a print-ready PDF<\/strong>. The small legal references printed on it are educational \u2014 you may delete them (or one of the two languages) before signing.
\n\u0e15\u0e31\u0e4b\u0e27\u0e2a\u0e31\u0e0d\u0e0d\u0e32\u0e43\u0e0a\u0e49\u0e40\u0e07\u0e34\u0e19\u0e40\u0e1b\u0e47\u0e19\u0e15\u0e23\u0e32\u0e2a\u0e32\u0e23\u0e40\u0e1b\u0e25\u0e35\u0e48\u0e22\u0e19\u0e21\u0e37\u0e2d\u0e15\u0e32\u0e21\u0e21\u0e32\u0e15\u0e23\u0e32 982 \u0e2d\u0e22\u0e48\u0e32\u0e25\u0e37\u0e21\u0e2d\u0e32\u0e22\u0e38\u0e04\u0e27\u0e32\u0e21 3 \u0e1b\u0e35 (\u0e21\u0e32\u0e15\u0e23\u0e32 1001) \u0e41\u0e21\u0e48\u0e41\u0e1a\u0e1a\u0e2a\u0e2d\u0e07\u0e20\u0e32\u0e29\u0e32\u0e21\u0e32\u0e1e\u0e23\u0e49\u0e2d\u0e21\u0e04\u0e33\u0e41\u0e19\u0e30\u0e19\u0e33\u0e01\u0e32\u0e23\u0e43\u0e0a\u0e49\u0e07\u0e32\u0e19<\/span><\/p>\n<\/p>\n

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\u0e3f390 one-off \u00b7 \u0e04\u0e23\u0e31\u0e49\u0e07\u0e40\u0e14\u0e35\u0e22\u0e27<\/span><\/div>\n
Free for Silver members & above \u00b7 \u0e1f\u0e23\u0e35\u0e2a\u0e33\u0e2b\u0e23\u0e31\u0e1a\u0e2a\u0e21\u0e32\u0e0a\u0e34\u0e01 Silver \u0e02\u0e36\u0e49\u0e19\u0e44\u0e1b<\/div>\n<\/div>\n

Join Silver \u2014 free \u00b7 \u0e2a\u0e21\u0e31\u0e04\u0e23 Silver<\/a>Buy once \u2014 \u0e3f390 \u00b7 \u0e0b\u0e37\u0e49\u0e2d\u0e04\u0e23\u0e31\u0e49\u0e07\u0e40\u0e14\u0e35\u0e22\u0e27<\/a><\/div>\n

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Gold members can have a lawyer prepare or review it; an AI Document Maker is coming soon. Prefer it fully lawyer-prepared? Contact us<\/a>. Not legal advice. \u00b7 \u0e2a\u0e21\u0e32\u0e0a\u0e34\u0e01 Gold \u0e43\u0e2b\u0e49\u0e17\u0e19\u0e32\u0e22\u0e08\u0e31\u0e14\u0e40\u0e15\u0e23\u0e35\u0e22\u0e21\/\u0e15\u0e23\u0e27\u0e08\u0e44\u0e14\u0e49 \u0e40\u0e04\u0e23\u0e37\u0e48\u0e2d\u0e07\u0e21\u0e37\u0e2d AI \u0e40\u0e23\u0e47\u0e27 \u0e46 \u0e19\u0e35\u0e49<\/p>\n<\/div>\n

What a promissory note is under Thai law<\/h2>\n

Thai law puts promissory notes in the “Bills” title of the Civil and Commercial Code<\/a>. Section 898 lists three kinds of bills: the bill of exchange, the promissory note, and the cheque.<\/p>\n

Section 982<\/a> gives the definition. The maker promises, unconditionally, to pay a fixed sum of money to the payee, or to that person’s order. The key word is “order.” The note can be passed to someone else by endorsement, and the new holder can then demand payment. That is what “negotiable” means. A loan contract cannot do that on its own.<\/p>\n

The seven things a valid note must contain<\/h3>\n

Section 983<\/a> lists seven required particulars:<\/p>\n

    \n
  1. The words “promissory note” (\u0e15\u0e31\u0e4b\u0e27\u0e2a\u0e31\u0e0d\u0e0d\u0e32\u0e43\u0e0a\u0e49\u0e40\u0e07\u0e34\u0e19) on the document itself;<\/li>\n
  2. An unconditional promise to pay a definite sum of money;<\/li>\n
  3. The maturity date \u2014 the day payment is due;<\/li>\n
  4. The place of payment;<\/li>\n
  5. The name or trade name of the payee;<\/li>\n
  6. The date and place where the note is issued;<\/li>\n
  7. The signature of the maker.<\/li>\n<\/ol>\n

    Section 984<\/a> forgives some omissions: a note with no maturity date is payable at sight; if the place of payment or issue is missing, the maker’s domicile is used; a missing issue date may be written in by a holder in good faith. Do not rely on these defaults. Fill in every box \u2014 blanks are where disputes start.<\/p>\n

    Promissory note vs loan agreement<\/h2>\n

    People use the two terms as if they are the same. They are not. A loan agreement<\/a> is a contract. A promissory note is a one-sided instrument that travels.<\/p>\n\n\n\n\n\n\n\n\n\n\n
    Feature<\/th>\nLoan Agreement<\/th>\nPromissory Note<\/th>\n<\/tr>\n<\/thead>\n
    Governing law<\/td>\nCCC Sections 650-656<\/td>\nCCC Sections 982-986<\/td>\n<\/tr>\n
    Nature<\/td>\nTwo-party contract<\/td>\nNegotiable instrument<\/td>\n<\/tr>\n
    Transfer to third party<\/td>\nNot by itself<\/td>\nYes, by endorsement<\/td>\n<\/tr>\n
    Time limit to sue<\/td>\nTen years (s.193\/30)<\/td>\nThree years (s.1001)<\/td>\n<\/tr>\n
    Guarantee<\/td>\nSeparate suretyship contract<\/td>\nAval signed on the note (s.938-940)<\/td>\n<\/tr>\n
    Proof needed<\/td>\nWriting if over 2,000 baht (s.653<\/a>)<\/td>\nThe note itself<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    The three-year trap<\/h2>\n

    This is the part that costs people money. Under Section 1001<\/a>, a claim against the maker is barred after three years from the maturity date<\/strong>. A loan agreement gives you ten. We have seen lenders lose the right to sue while waiting politely on repeated promises to pay.<\/p>\n

    If you hold a note, diarise the maturity date the day you receive it. Send a written demand early, and file well before the three years run out. If your note is payable at sight (no maturity date), do not let it sleep in a drawer \u2014 present it for payment and start the clock on your own terms.<\/p>\n

    Interest: the 15% ceiling<\/h2>\n

    Any interest written on the note must not exceed 15% per year<\/strong> (Section 654<\/a>). Charging more does not trim the rate down to 15% \u2014 Thai courts void the interest entirely, and the principal survives alone. For unlicensed lenders, charging above the cap is also a criminal offence under the Prohibition of Charging Excessive Interest Act B.E. 2560 (2017).<\/p>\n

    If the note says nothing about interest, the statutory rates apply: 3% per year, rising to 5% per year once the maker is in default (rates as amended in 2021, adjustable by Royal Decree).<\/p>\n

    Stamp duty: 3 baht that can sink your case<\/h2>\n

    A promissory note carries a flat 3-baht stamp duty<\/strong> under item 9(2) of the Stamp Duty Schedule of the Revenue Code. The maker is the person liable, and the stamp must be cancelled (crossed out) once affixed.<\/p>\n

    Skip it and the note cannot be used as evidence in a Thai civil court until the duty and a surcharge \u2014 up to six times the duty \u2014 are paid (Revenue Code sections 113, 114 and 118). Three baht at signing, or a fight about admissibility at trial. Stamp it on day one.<\/p>\n

    Aval: a guarantee written on the note<\/h2>\n

    A third person can guarantee payment by writing “good as aval” (\u0e43\u0e0a\u0e49\u0e44\u0e14\u0e49\u0e40\u0e1b\u0e47\u0e19\u0e2d\u0e32\u0e27\u0e31\u0e25) on the note and signing it. The aval rules for bills of exchange (Sections 938-940) apply to promissory notes through Section 985. The avaliseur is bound in the same manner as the maker: you can sue the guarantor directly on the instrument, without a separate suretyship contract.<\/p>\n

    For any significant sum, ask for an aval from a solvent guarantor. It is one signature, and it doubles the pool of people who owe you the money.<\/p>\n

    Transferring the note<\/h2>\n

    The payee can transfer the note by endorsement<\/strong>: signing on the back and delivering it to the new holder. The new holder acquires the right to demand payment in their own name. This is what makes a promissory note useful in business \u2014 it can settle a debt, secure a deal, or be discounted for cash.<\/p>\n

    If the maker does not pay<\/h2>\n
      \n
    1. Check the dates.<\/strong> Confirm the maturity date and how much of the three years remains.<\/li>\n
    2. Send a written demand.<\/strong> A lawyer’s demand letter, with a short deadline, resolves many notes without court.<\/li>\n
    3. Fix the stamp duty<\/strong> if it was never paid \u2014 before you file, not after the other side objects.<\/li>\n
    4. Sue on the note.<\/strong> The original instrument is your evidence. Claims up to 300,000 baht can proceed as small claims (\u0e04\u0e14\u0e35\u0e21\u0e42\u0e19\u0e2a\u0e32\u0e40\u0e23\u0e48); larger claims go to the ordinary civil court.<\/li>\n<\/ol>\n

      Common mistakes we see<\/h2>\n