Final deal: Lenders do not sign notes to order, but only loan contracts. The loan agreement consists essentially of four sections. Although each note is clear depending on the circumstances of this proceeding, the general rule of four sections is always followed. These four sections are listed below. Although a loan contract has a purpose quite similar to that of a change of sola, it uses a more formal approach to the problem. While the principles remain the same and the main purpose of the document is to provide agreement between the two parties on when the money should be returned or recovered by the other party, the main difference is that the loan contract is much more detailed than a change of funds. In terms of their legal applicability, the notes are somewhere between the informality of an IOU and the rigidity of a loan contract. A change of funds includes some promise of payment and necessary measures (such as the repayment plan), while an IOU simply acknowledges the existence of a debt and the amount owed by one party to another. If a request or time instrument is used, it may indicate that the borrower`s credit quality has declined. Some large financial institutions even use the term “note” to describe their loan contracts. By bypassing traditional banks and lenders, bond investors take the risk of the banking sector without having the size of their organization to minimize this risk by spreading it over thousands of loans.
This risk leads to higher returns, provided the recipient does not fall into the bill. According to tradition, a debt note was signed in Milan in 1325. However, according to a report of Ibrahim ibn Yaqub`s visit to Prague in 960, small pieces of cloth were used as commercial means, these towels having a fixed exchange rate in relation to money.  Around 1150, the Knights Templar handed out tickets to pilgrims, pilgrims deposited their valuables in a Templar teacher before boarding, received a document giving the value of their deposit and used it upon arrival in the Holy Land to collect their money from a valuable treasure.   Definitive cancellation: Loan contracts and debt securities generally contain information about what happens if the borrower does not pay the lender. Neither a debt or a loan agreement would be complete without some information on what to do if the borrower does not pay the lender back. Without this critical information, neither document would be worth much! If a loan agreement or debt note simply indicated that a borrower had to repay a lender with a certain amount of money, the lender`s only recourse in the event of non-payment is to bring the borrower to justice and challenge the consequences that should be. It is much more effective to clearly delineate what the borrower should do if he or she does not pay within the limits of the document itself.
In 2005, the Korean Ministry of Justice and a consortium of financial institutions announced the delivery of an electronic debt service after years of development, allowing companies to place notes in order (tickets payable) for the first time in the world in commercial transactions instead of being done on paper.