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Pay Advance Promissory Note In accordance with CAN Human Resources Manual: 4.8 Pay Advance Policy, ___ understand that CAN will provide me with $___ as a pay advance as per CAN Pay Advance Policy
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How to fill out pay advance promissory note

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How to fill out pay advance promissory note

01
Start by placing the date at the top of the promissory note.
02
Write down the borrower's name and contact information.
03
Specify the amount of the pay advance being given to the borrower.
04
State the terms of repayment, including the date by which the loan must be repaid.
05
Include any interest rate or fees associated with the pay advance, if applicable.
06
Both the borrower and lender should sign and date the promissory note to make it legally binding.

Who needs pay advance promissory note?

01
Employees who are in need of a short-term loan or advance on their paycheck.
02
Employers who want to formalize the terms of a pay advance and ensure repayment.
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A pay advance promissory note is a legal document that outlines the terms and conditions of an agreement between an employer and an employee regarding an advance payment.
Employers who provide pay advances to their employees are required to file a pay advance promissory note.
To fill out a pay advance promissory note, both the employer and employee must agree on the terms of the advance payment and sign the document.
The purpose of a pay advance promissory note is to protect both the employer and employee by clearly outlining the terms of the advance payment.
The pay advance promissory note must include the amount of the advance payment, the date it was given, the repayment terms, and any interest or fees associated with the advance.
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