North Carolina IOU (I Owe You)
This IOU acknowledges that the undersigned Borrower owes the stated amount to the Lender on the terms described herein:
I. Borrower Information
[YOUR NAME]
[YOUR COMPANY NAME]
[YOUR COMPANY ADDRESS]
II. Lender Information
[LENDER NAME]
[LENDER COMPANY NAME]
[LENDER ADDRESS]
III. Principal Amount
The principal amount of this IOU is [PRINCIPAL AMOUNT] United States Dollars ($[AMOUNT]).
IV. Terms of Repayment
The Borrower agrees to repay the full principal amount to the Lender by [DUE DATE]. The payment shall be made via [PAYMENT METHOD], directed to the following account or address, as per the Lender's instructions.
V. Interest
Interest on this loan shall accrue at a rate of [ANNUAL INTEREST RATE]% per annum. If not stated, the loan is considered interest-free.
VI. Default and Remedies
In the event of default, the Lender has the right to demand immediate payment of the full principal sum outstanding. Additional charges for late payment may apply as discussed and agreed upon at the outset of this loan and stipulated in further written agreement.
VII. Governing Law
This IOU shall be governed by and construed in accordance with the laws of the state of North Carolina, United States.
VIII. Signatures
The Borrower and Lender signify their agreement to the terms hereof by their signatures below:
Borrower's Signature
Date: [DATE]
Lender Signature
Date: [DATE]
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