Last updated on มิถุนายน 22, 2026
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.
A promissory note in Thailand (ตั๋วสัญญาใช้เงิน) is a negotiable instrument. The law treats it very differently from an ordinary loan agreement.
Download the bilingual Promissory Note template · ดาวน์โหลดแม่แบบตั๋วสัญญาใช้เงิน
A promissory note is a negotiable instrument under Section 982. Remember the three-year limit to sue (Section 1001). Our bilingual template includes a short how-to-use guide covering the time limit, the 15% interest ceiling, and stamp duty.
ตั๋วสัญญาใช้เงินเป็นตราสารเปลี่ยนมือตามมาตรา 982 อย่าลืมอายุความ 3 ปี (มาตรา 1001) แม่แบบสองภาษามาพร้อมคำแนะนำการใช้งาน
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What a promissory note is under Thai law
Thai law puts promissory notes in the “Bills” chapter of the Civil and Commercial Code. Section 898 lists three kinds of bills: the bill of exchange, the promissory note, and the cheque.
Section 982 gives the definition. The maker promises to pay a fixed sum to the payee, or to that person’s order. The key word is “order.” The note can be passed on by endorsement. That new holder can then demand payment. This is what “negotiable” means. A loan contract cannot do that on its own.
What the note must contain
Section 983 sets out the required particulars: the words “promissory note”, an unconditional promise to pay a definite sum, the payee name, the date, and the maker signature. No signature, no note.
Promissory note vs loan agreement
People use the two terms as if they are the same. They are not. A loan agreement is a contract. A promissory note is a one-sided instrument that travels.
| คุณสมบัติ | สัญญาเงินกู้ | Promissory Note |
|---|---|---|
| กฎหมายที่ใช้บังคับ | CCC Sections 650-656 | CCC Sections 982-986 |
| ธรรมชาติ | Two-party contract | Negotiable instrument |
| Transfer to third party | Not by itself | Yes, by endorsement |
| Time limit to sue | Ten years (s.193/30) | Three years (s.1001) |
| Proof needed | Writing if over 2,000 baht (s.653) | The note itself |
The three-year trap
This is the part that costs people money. Under Section 1001, a claim against the maker is barred after three years from maturity. A loan agreement gives you ten. We have seen lenders lose the right to sue while waiting on a promise to pay. If you hold a note, diarise the maturity date. Act well before the three years run out.
Interest, stamp duty, and form
The 15% per year ceiling in Section 654 applies. Stamp the note under the Revenue Code, or a court may refuse it as evidence until the duty and penalty are paid. Write it in English with a Thai version for the court.
Frequently asked questions
Is a promissory note the same as a loan agreement?
No. A loan agreement is a contract. A promissory note is a negotiable instrument that can be transferred to a third party.
How long do I have to sue on a promissory note?
Three years from maturity (Section 1001). A loan agreement gives ten years.
What must a valid note contain?
Under Section 983: the words promissory note, an unconditional promise to pay a fixed sum, the payee name, the date, and the maker signature.
Can a foreigner sign or hold one?
Yes. A foreigner can be the maker or the payee. Use a bilingual note.
Does it need stamp duty?
Yes. An unstamped note can be refused as evidence until the duty and penalty are paid.
How ThaiLawOnline can help
We draft bilingual promissory notes and loan documents that hold up in a Thai court. Start with our loan and lending documents, become a member to download templates, or contact our team.
General legal information, not legal advice. Speak to a licensed Thai lawyer before acting.