How to write IOUs

The content and writing of the IOU may be in accordance with the provisions of Article 197 of the Contract Law, and the loan contract shall be in written form, unless otherwise agreed between natural persons.

The contents of the loan contract include the loan type, currency, purpose, amount, interest rate, term and repayment method.

For example:

1, write up, with the title at the head and the word "IOU" in the middle.

2. The legal names of the borrower and the lender should be written on the IOU, and the names cannot be replaced by lowercase or nicknames, otherwise the IOU will not be protected by law.

3. When writing IOUs, you can ask the borrower to attach the ID number after the legal name to avoid mistakes.

4. Write down the loan amount in detail, and the figures should be written in uppercase and lowercase letters.

5. Write down the loan term, loan interest rate and repayment amount due.

6. After the IOU is written, be sure to watch the borrower personally sign and seal the bottom of the IOU, and no one else can sign it.

Standard format of IOUs:

1, the title must be written with the word IOU, and it must not be mistakenly written by others on purpose. Special attention: although the money is in the hands of others, the legal result is completely different;

2. Be sure to specify the loan term and amount. Special attention: verify whether the figures are consistent. If the figures are inconsistent, amount in words will prevail in judicial practice;

3. Be sure to write the correct lender's name and ID number, and at the same time, be sure to indicate the borrower's name and ID number, so as to avoid problems such as verifying whether the borrower's identity is repeated in case of disputes;

4. If you are not sure when the borrower needs to return, it is recommended that the lender not write the date of return, so that the limitation can be guaranteed for 20 years, and it will not be impossible to recover the limitation because of temporary forgetting.

5. If interest is needed, it must be clearly stated. According to the law, if the interest is not clearly agreed, if the interest is required to be paid when returning, it will not be supported;

6. It's best to copy the front and back of the borrower's ID card on the lower right of A4 paper, and then write down the debit note at the top and press the fingerprint.