IOU-Sample.pdf

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IOU Dated: June 17, 2016 2,500.00 USD FOR VALUE RECEIVED, the undersigned, Luke Dodson (the "Borrower"), located at 39 Silk Road, Sacramento , CA 33333, hereby promises to pay to the order of Peter Wilson, (the "Lender"), located at 33 Wilson Ave, Sacramento , CA 33333, the principal sum of 2,500.00 USD together with interest on the principal balance, and in accordance with the terms set forth below.. To make sure the document is complete, you should include the following: - Full details of the lender including the name and address - Full details of the borrower including the name and address - Principal amount of the loan - Any interest accrued on the loan and the rate of interest - Repayment options - Repayment schedule - Any additional stipulations relating to the loan such as prepayment or default of the loan REPAYMENT OPTIONS The IOU should clearly set out the repayment schedule so that there is no question as to how and when the borrower must repay the principal amount of the loan and interest (if applicable) to the lender..

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