Partner IOU (I Owe You)
This IOU Agreement ("Agreement") is made as of [DATE], by and between [YOUR NAME], hereinafter referred to as the "Borrower," and [PARTNER NAME], hereinafter referred to as the "Lender." Both parties agree as follows:
I. Borrower Information
Name: [YOUR NAME]
Company Name: [YOUR COMPANY NAME]
Email: [YOUR COMPANY EMAIL]
Address: [YOUR COMPANY ADDRESS]
Phone Number: [YOUR COMPANY NUMBER]
Website: [YOUR COMPANY WEBSITE]
Social Media Page: [YOUR COMPANY SOCIAL MEDIA]
II. Amount Lent
The Lender agrees to loan the Borrower the principal sum of [LOAN AMOUNT] ([CURRENCY]), hereinafter referred to as the "Loan."
III. Repayment Terms
The Borrower agrees to repay the borrowed sum plus any applicable interest to the Lender on or before [REPAYMENT DEADLINE DATE]. The borrowed sum shall be paid to:
Account Name: [LENDER ACCOUNT NAME]
Account Number: [LENDER ACCOUNT NUMBER]
Bank Name: [LENDER BANK NAME]
IV. Interest
This Loan shall incur an annual interest rate of [INTEREST RATE]% until fully paid. Interest accrues beginning on the date funds are disbursed.
V. Prepayment
The Borrower may prepay part or all of the amount due under this Agreement at any time without penalty.
VI. Default
If the Borrower fails to make a payment by the due date, the Borrower shall be in default. The Lender may then demand immediate payment of the full amount then due under this Agreement.
VII. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of [JURISDICTION STATE/COUNTRY].
VIII. Amendment
This Agreement may only be amended or modified by a written agreement signed by both parties.
IX. Signatures
Both parties acknowledge that they have read and understood the terms set forth in this Agreement and hereby agree to them voluntarily:
Borrower's Name:
[YOUR NAME]
Date:[DATE]
Lender's Name:
[VENDOR NAME]
Date:[DATE]
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