British Columbia promissory note template

British Columbia rules for this report

These rules are about how and when you report, not the template's fields. Check them before you deliver.

• A court proceeding on a claim must not be started more than 2 years after the day the claim is discovered: the day the claimant knew or reasonably ought to have known of the loss, who caused it and that a court proceeding would be an appropriate way to seek a remedyLimitation Act, s. 6 (1) and 8
• The Provincial Court hears claims for debt or damages of up to 35,000 dollars, not counting interest and costs; the Civil Resolution Tribunal hears small claims of up to 5,000 dollars, not counting interest and expensesSmall Claims Act, s. 3 (1); Small Claims Court Monetary Limit Regulation, s. 1 · Civil Resolution Tribunal Act, s. 118 (1); Tribunal Small Claims Regulation, s. 3
• A claim for a demand obligation, such as a loan payable on demand, is discovered on the first day there is a failure to pay after a demand for payment has been madeLimitation Act, s. 14
• Whatever the discovery date, no court proceeding may be started more than 15 years after the act or omission the claim is based on (for a demand obligation, the day it is discovered under s. 14)Limitation Act, s. 21 (1), (2)
• An acknowledgement of liability made before a limitation period expires restarts both periods from that day; it must be in writing, signed and made to the person with the claim or their agent, and a part payment of a liquidated sum counts as an acknowledgementLimitation Act, s. 24 (1), (6), (7)
• A court adds interest to a money judgment from the day the cause of action arose to the date of the order, but not where the parties have their own agreement about interestCourt Order Interest Act, s. 1 (1), 2 (b)

What is in it

• Promise to payThe promise to pay, in the standard wording filled in with your entries.
• Other termsAnything else the lender and borrower agree: security given, where payments are sent.

Rules last reviewed November 3, 2026. Read the full British Columbia promissory note requirements.