Debt Acknowledgment IOU (I Owe You)

I. Parties

This IOU (the "Agreement") is made on [DATE], by and between:

Lender: [LENDER]

Borrower: [YOUR NAME]

Company Name: [YOUR COMPANY NAME]

Email: [YOUR COMPANY EMAIL]

Address: [YOUR COMPANY ADDRESS]

Phone: [YOUR COMPANY NUMBER]

Website: [YOUR COMPANY WEBSITE]

Social Media: [YOUR COMPANY SOCIAL MEDIA]

II. Principal Amount

The principal loan amount is [LOAN AMOUNT] (the "Principal"), which was lent by the Lender to the Borrower on [LOAN DATE].

III. Repayment Terms

The Borrower agrees to repay the full Principal, along with any accrued interest, by [REPAYMENT DATE]. The method of repayment will be stipulated as follows: [REPAYMENT METHOD].

IV. Interest

The loan will incur an interest rate of [INTEREST RATE]% per annum. Interest will accumulate starting from [LOAN DATE] until the loan is paid in full.

V. Prepayment

The Borrower may prepay the balance of the Principal and any accrued interest without penalty.

VI. Default

In the event of default, the Borrower has [NUMBER OF DAYS] days after receiving a written notice from the Lender to remedy the defaulted payment. Failure to remedy the default may result in legal proceedings and additional charges.

VII. Governing Law

This Agreement shall be governed and construed in accordance with the laws of [GOVERNING LAW STATE/COUNTRY].

VIII. Entire Agreement

This document reflects the entire agreement between the parties and supersedes all prior oral or written agreements.

IX. Signatures

Both parties, by their signatures below, agree to the terms of this IOU.

Borrower's Name:

[YOUR NAME]

Date:[DATE]

Lender's Name:

[VENDOR NAME]

Date:[DATE]

IOU Templates @ Template.net