A Washington, DC unsecured promissory note outlines the loan agreement terms between a lender and a borrower. This arrangement does not require the borrower to provide collateral to secure the loan. Instead, it establishes the repayment terms, including the loan amount, interest rate, repayment schedule, and other relevant conditions.
Upon signing, both parties agree to the terms in the document, which becomes a legally binding contract. Should the borrower default, the lender can pursue legal action.
