How to write the IOU with a guarantor: First, in the title part, write the word IOU, then in the main text part, write the borrower's name, ID number, contact information, loan amount, The reason for borrowing, interest calculation method, etc., followed by the repayment date and method, followed by the guarantor’s name, ID number, contact information, and whether the guarantee is provided as a general guarantee or a joint and several guarantee, and finally by The borrower and the guarantor must both sign together.

Legal Basis

According to Article 386 of the Civil Code that came into effect on January 1, 2021

If the debtor fails to perform When debts become due or situations occur where the security rights are realized as agreed upon by the parties, the party shall have priority in receiving repayment of the secured property in accordance with the law, except where otherwise provided by law.

Article 387 of the "Civil Code"

If a creditor needs a guarantee to ensure the realization of its creditor's rights in civil activities such as lending, buying and selling, it may do so in accordance with this Law and Security interests are established in accordance with other legal provisions.

If a third party provides a guarantee for the debtor to the creditor, it may require the debtor to provide a counter-guarantee. Counter guarantee shall be governed by the provisions of this Law and other laws.

Article 668 of the Civil Code

A loan contract shall be in writing, unless otherwise agreed on the loan between natural persons.

The content of a loan contract generally includes terms such as loan type, currency, purpose, amount, interest rate, term and repayment method.