How should I write an IOU? What issues should we pay attention to?

Although IOUs are simple, there are many hidden problems and traps. Many people simply write the borrower's name, loan amount, loan date and signature when writing an IOU, but this is not enough. If the other party insists on not paying back the money, the law will not recognize such an IOU.

So how should I write an IOU? Write down the full legal names of both parties to the loan (note that it must be the name on the ID card.) Write down the loan amount (including uppercase and lowercase letters to prevent one party from changing it). Write down the loan time period, including the start and end dates, and specify the period. Write down the specific time for repayment (specific to the year, month and day) and the interest rate on the loan (agreed by both parties). The IOU needs to be signed by the borrower in person, with his or her handprint or signature. Make sure to write down the reason for the loan.

It’s simple to describe, but there are a few points to note. It is necessary to clarify the reason for the loan from the other party. If the borrower is using it for illegal activities (such as pornography, gambling and drugs), the loan will not be granted. This kind of IOU is not protected from a legal perspective. According to the laws of our country, if you borrow money even though you know that the borrowing party is using it for illegal activities, the loan is not protected by law. In other words, if the other party does not want to repay the money, you cannot use legal weapons to protect your rights and interests. For IOUs with an agreed repayment period, you need to claim your rights and file a lawsuit in the People's Court within two years after the expiration of the repayment period. According to the provisions of our country’s laws, the statute of limitations for parties to request the People’s Court to protect their civil rights is two years. If the borrower files a lawsuit with the People’s Court two years after the loan expires, but there is no suspension, interruption, or extension of the statute of limitations, he will lose the victory in the lawsuit. right.

Regarding IOUs, there are many templates on the Internet that you can download and use by yourself. However, there are many online templates and there are many things to note. It is best to consult a formal organization with related services. ?IOU is a good choice. You can create IOUs online and sign electronic contracts. It has legal protection, is convenient and fast, and also provides legal consultation.