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IOU Template: Free Printable Form

Write a simple IOU that records who owes whom, how much, for what and by when, signed by the borrower.

Parties

Details

Letter text

The text below is written from the details you fill in. Edit it if you want to change the wording.

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What an IOU says

An IOU ("I owe you") is a short written note in which one person admits owing money to another. It is informal and quick: useful between friends, family or small traders to avoid later disputes about how much was lent.

What an IOU says

  • The borrower's and lender's names
  • The amount, in figures and words
  • What it is for (optional)
  • The date, and when it will be repaid (optional)
  • The borrower's signature

IOU, promissory note or payment plan?

DocumentUse when
IOUYou only need to record that a debt exists
Promissory noteYou want a promise to pay with interest and a due date
Payment plan agreementThe debt is paid in instalments with default terms

When the money is paid back, give the borrower a payment receipt.

Download a PDF or an editable Word file, or print it. Your draft stays in this browser only; nothing is uploaded to our servers.

Features

  • Borrower and lender
  • Amount in words
  • What it is for
  • Repay by date
  • Witness line
  • PDF, Word and print

Frequently asked questions

Is an IOU legally binding?

It is evidence that a debt exists. Whether it can be enforced like a contract depends on local law and the facts.

Should an IOU be witnessed?

It is not required, but a witness signature makes it harder to dispute later.

What is the difference between an IOU and a promissory note?

An IOU acknowledges a debt; a promissory note is a promise to pay a sum on set terms.

Is this legal advice?

No. It is a sample format to save you time. For a large amount, property or anything unusual, have a lawyer review the final text.

Is it free?

Yes. No sign up and no watermark. Download a PDF or Word file, or print it, as often as you need.

Is my information saved?

Only in your own browser, so you can come back to the draft. Nothing is uploaded to our servers.

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