Printable IOU
Printable IOU(I Owe You)
Loan Details
Date: [LOAN DATE]
Lender: [LENDER NAME]
Borrower: [BORROWER NAME]
Amount Borrowed: $[LOAN AMMOUNT]
Interest Rate: [INTREST RATE] per annum
epayment Date: [REPAYMENT DATE]
I. Parties
This IOU agreement is entered into between:
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[LENDER'S NAME], residing at [LENDER'S ADDRESS] hereinafter referred to as the "Lender.
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And [BORROWER'S NAME], residing at [BORROWER'S ADDRESS] hereinafter referred to as the "Borrower.
II. Loan Details
Principal Amount: [LOAN AMOUNT]
Loan Date: [LOAN DATE]
The Lender agrees to loan to the Borrower the sum of [LOAN AMOUNT IN WORDS] [LOAN AMOUNT IN NUMBERS], to be repaid in accordance with the terms and conditions set forth in this IOU.
III. Purpose of Loan
The Borrower acknowledges that the loan is for the purpose of [PURPOSE OF LOAN], and agrees not to use the funds for any other purpose without the express consent of the Lender.
IV. Terms of Repayment
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The Borrower shall repay the loan amount in full by [DUE DATE].
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The repayment shall be made in [PAYMENT METHOD].
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The Borrower agrees to pay any accrued interest at the rate of [INTEREST RATE]% per annum.
V. Default
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In the event of default by the Borrower, the entire outstanding balance of the loan, including accrued interest, shall become immediately due and payable.
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The Lender reserves the right to pursue all available legal remedies to enforce repayment of the loan.
VI. Governing Law
This IOU agreement shall be governed by and construed in accordance with the laws of [GOVERNING JURISDICTION].
VII. Signatures
Signed on this day of , [Year].
[LENDER NAME]
[DATE]
[BORROWER NAME]
[DATE]
