An IOU is a written document indicating the relationship between creditor's rights and debts, which is generally written and signed by the debtor, indicating that the debtor has owed the creditor the amount indicated in the IOU. An iou refers to a bill written to the other party when borrowing personal or public cash or goods, that is, an iou.

After the money and goods are returned, the bill is revoked or torn by the bill holder. This is a document. Usually used in daily life and business management.

From a legal point of view, an IOU is a written document showing the relationship between creditor's rights and debts, which is generally written and signed by the debtor, indicating that the debtor has owed the creditor the amount indicated on the IOU.

The basic contents of IOUs include:

Creditor's name, loan amount (local and foreign currency), interest calculation, repayment time, liquidated damages (deferred repayment), dispute resolution method, debtor's name, loan date and other elements. As long as you have the creditor's name, loan amount, debtor's name and loan date (although it was added later), it meets the main requirements of the loan, so it has legal effect.

Once a dispute arises, it can be used as evidence to claim creditor's rights to the people's court, and the people's court will accept it.

Extended data:

Loan template

Party A xxx (ID number: * * * *) received RMB * * * * (ID number: * * * *) from Party B today. (in words)

The loan term is * * * years, from * * * years to * * * * years.

The loan interest is: * *

Borrower signature

date

Baidu encyclopedia-IOUs