Customer (I Owe You)
This IOU Agreement ("Agreement") is made as of [DATE], by and between the following parties:
I. Parties
Borrower/Issuer:
Name: [YOUR NAME]
Company: [YOUR COMPANY NAME]
Email: [YOUR COMPANY EMAIL]
Address: [YOUR COMPANY ADDRESS]
Phone Number: [YOUR COMPANY NUMBER]
Website: [YOUR COMPANY WEBSITE]
Social Media: [YOUR COMPANY SOCIAL MEDIA]
Lender:
II. Promise to Pay
For value received, [YOUR NAME], herein referred to as the Borrower, promises to pay to [LENDER NAME], the Lender, the principal sum of [AMOUNT], in [CURRENCY], by [PAYBACK DATE].
III. Payment Terms
The Borrower agrees that the borrowed amount will be repaid in accordance with the following schedule:
Initial payment of [INITIAL PAYMENT AMOUNT] due on [INITIAL PAYMENT DUE DATE]
Subsequent payments in the amount of [SUBSEQUENT PAYMENT AMOUNT] each, due monthly on the [DAY] of each month
IV. No Interest
This loan shall be made without interest; the total amount to be repaid will be [AMOUNT].
V. Prepayment
Borrower may prepay this loan in whole or in part at any time without penalty.
VI. Default
Failure to make a payment within [NUMBER OF DAYS] days of the due date shall constitute a default under this Agreement.
VII. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the state/province of [YOUR STATE/PROVINCE], without regard to its conflict of law principles.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the aforementioned date.
Borrower:
Lender:
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