By seeking financial support from friends or relatives, most people hope to repay the debt very quickly and maintain good relations with those who managed to help in difficult times. And yet everyone understands that life is not predictable, and therefore it would be good to formalize debt obligations in such a way that there are no disputes and disagreements in the future, even in the event of an untimely loan repayment. In this case, the IOU will be a confirmation of the transaction.
It is necessary
- Borrower and Lender Passport Data
- Paper
- A pen
Instructions
Step 1
Make an IOU in simple writing with your own hand on a standard sheet of white paper. There is no fixed form for such a document. And yet, its design must comply with the rules for the preparation of business papers and contain some mandatory positions. Write legibly and accurately, so you can confirm the honesty of your intentions to your lender, given the fact that the document will be a kind of guarantor of the debt repayment.
Step 2
Start with the name of the document "IOU", placing it in the center of the sheet. Immediately below it, indicate the place where the receipt was drawn up and the date of the transaction. In the main part of the receipt, you must indicate your own last name, first name, patronymic (in full), passport data and place of residence. The lender's details should be indicated in the same amount. Here it will be necessary to comply with the form of obligation, starting with "I, … (full name of the borrower), received from … (full name of the lender) a sum of money in the amount of …". First write the loan amount in numbers indicating the monetary units, and then decipher it in words in parentheses.
Step 3
Write the exact date of the return of the amount received and the period for which it is available at your disposal. Here you can also indicate the interest for the use of the loan (if they were discussed), payable according to the agreement reached. Sign the receipt and hand it over to the lender for signature.
