If there is no ambiguity about the IOU, it can be counted as three years from the day after the repayment date, that is, if the borrower performs the debt within these three years, the creditor can bring a civil lawsuit to the people's court and request the people's court to judge the debtor to repay the loan. If the repayment period is not stipulated in the IOU, the limitation of action shall be calculated from the date when the IOU is issued.

Generally written by the borrower, indicating that the borrower has borrowed money or goods from the lender. The IOU shall include the names of the borrower and the borrower, ID number, loan amount, loan purpose and other basic contents, and may also include loan interest rate, overdue interest rate, repayment time and other contents. The loan shall be signed and sealed by the borrower. 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.

When borrowing money, the borrower should take the initiative to write a written IOU, and the lender should also remind the other party to write an IOU. In case of special circumstances, if it is impossible to make an iou on the spot, a third person shall testify and make up the iou afterwards. When repaying, the repayment person should pay attention to take back the IOUs or destroy them together. If the lender claims that the loan is lost or damaged, the repayment shall require the lender to issue a receipt, and the repayment shall properly keep the receipt.

Period of validity of IOUs:

1. The validity of IOUs depends on the contents of IOUs. If the repayment time is not agreed, the limitation of action shall be three years from the date when the lender requests repayment.

2. If the repayment time is indicated on the loan slip, it shall be three years from the date when the repayment period expires.

3. If there is no agreed repayment date on the IOU, the creditor may demand repayment from the debtor at any time, and the debtor may also repay the creditor at any time.

4. IOUs are debt disputes. As long as the creditor has evidence to show that he has claimed his rights within the limitation period, the limitation period will be recalculated, but the longest period shall not exceed 20 years.

legal ground

People's Republic of China (PRC) Civil Code

Article 674 The borrower shall pay interest at the agreed time limit. If the time limit for paying interest is not stipulated or clearly stipulated, and cannot be determined according to the provisions of Article 510 of this Law, if the loan period is less than one year, it shall be paid together with the loan; If the loan term is more than one year, it shall be paid at the end of each year; if the remaining term is less than one year, it shall be paid together with the loan.