In everyday life, an IOU is a common document of economic transactions, which records the borrowing relationship between the borrower and the lender. The writing of IOUs requires certain norms and legitimacy to ensure that the transaction is transparent and well-documented. So which of the following points should be paid attention to when making IOUs?
When filling out the IOU, make sure of the following points:
Borrower information: including name, ID number, **, etc.
Lender information: also includes name, ID number, **, etc.
Relationship between borrower and lender: Indicate the identity relationship between the borrower and the lender, friends, relatives, and colleagues. It can help you prove that you are not lending money to "unspecified people" and avoid falling into a borrowing trap.
Loan amount: Specify the amount of borrowing, and use clear numbers and words, for example: "RMB ( ) xxx yuan" and "RMB 10,000 yuan".
Purpose of borrowing: Briefly explain the specific purpose of borrowing (e.g., capital turnover, medical treatment) to make the contract clearer.
Interest Rate: Specify the interest rate, indicate whether it is a daily, monthly, or annual interest rate, and how it is calculated.
Transaction information: Save the chat records, ** recordings, transfer records and other transaction information between the two parties.
Repayment method and term: Clarify the repayment method, such as installment or lump sum, and set a clear repayment period.
Default clause: Specifies the circumstances under which a breach counts, as well as the consequences and how to deal with the default.
Additional terms: Other relevant terms can be added on a case-by-case basis to ensure that the IOU fully covers the rights and interests of both parties.
Guarantor: When the debtor fails to perform the due debt or the situation agreed by the parties occurs, the guarantor performs the debt or assumes responsibility.
Signature and fingerprint: The lender, borrower, and guarantor all need to sign and stamp the IOU and attach an ID number.
Most importantly, both parties sign and leave a valid copy after agreeing and clearly understanding the contents of the contract. If you have legal concerns, it is advisable to consult a professional lawyer to ensure the validity and legitimacy of the IOU.
Such a perfect IOU was born!An IOU template is attached below, so you can save it if you need to!
Legal knowledge