I Owe You (IOU) Template

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Updated May 17, 2022

An IOU, or I Owe You, is a written acknowledgment of debt to another party. An IOU is a simple solution when two parties want to record a transaction without the hassle of complicated paperwork. People that tend to use an IOU are trustworthy and close individuals, typically business partners, friends, or family members.

What is an IOU?

When most people think of an IOU, the thought of a handwritten napkin comes to mind. Due to how IOUs have been portrayed in movies, it does not have the greatest reputation as being a legally binding document.

However, an IOU can be a powerful binding document when being used as a repayment agreement. As long as there are a lender and borrower in a transaction, an IOU can be used to set the terms of repayment.

How to Write

Download: Adobe PDF, MS Word, OpenDocument

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