Oregon IOU (I Owe You)
I. Acknowledgment of Debt
I, [YOUR NAME], in my capacity as an authorized representative of [YOUR COMPANY NAME], hereby unconditionally promise to repay the sum of [AMOUNT] to [LENDER NAME], (hereinafter referred to as the "Lender"), according to the conditions specified herein.
II. Details of Loan
The principal amount of the loan given by the Lender on [DATE OF LOAN] is [AMOUNT]. This loan will bear an annual interest rate of [INTEREST RATE]%, accruing daily, beginning on [LOAN START DATE].
Name: [YOUR NAME]
Company Email: [YOUR COMPANY EMAIL]
Company Address: [YOUR COMPANY ADDRESS]
Phone Number: [YOUR COMPANY NUMBER]
Website: [YOUR COMPANY WEBSITE]
Social Media: [YOUR COMPANY SOCIAL MEDIA]
III. Repayment Terms
Repayment of the principal amount along with the accrued interest is due in full on [DUE DATE]. Payments shall be made utilizing the following methods [REPAYMENT METHOD] and directed to the following payment address or account as specified by the Lender: [LENDER PAYMENT ADDRESS/ACCOUNT].
IV. Prepayment
Prepayment of this loan in full or in part may be done anytime without penalty. Any prepayment will first be applied to accrued interest and then to the principal loan amount.
V. Default and Remedies
In the event of default, when the Borrower fails to make a required payment by [DUE DATE] or violates any other term of this agreement, all outstanding amounts will become immediately due and payable at the discretion of the Lender, alongside any legal fees incurred due to the collection of the debt.
VI. Miscellaneous
This IOU is governed by the laws of the State of Oregon. Any disputes under this agreement shall be handled in the county of either party's principal place of business.
VII. Signatures
By signing below, both parties agree to the terms of this IOU.
Borrower (Authorized Representative of [YOUR COMPANY NAME]):
[YOUR NAME]
Lender
[DATE]
[BORROWER'S NAME]
Borrower
[DATE]
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