Employee IOU
Employee IOU (I Owe You)
I. The Promise to Pay
This IOU agreement is entered into between:
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[EMPLOYER'S NAME], represented by [EMPLOYER'S REPRESENTATIVE], with company address at [EMPLOYER'S ADDRESS] (hereinafter referred to as the "Employer"),
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And [EMPLOYEE'S NAME], residing at [EMPLOYEE'S ADDRESS] (hereinafter referred to as the "Employee").
II. Details of the Obligation
The total amount of debt owed is [DEBT AMOUNT]. This debt was incurred on [DATE OF INCURRING DEBT] and is expected to be repaid in full by [FULL REPAYMENT DATE].
III. Repayment Terms
The repayment will be made in [NUMBER OF INSTALLMENTS] installments, each of the amount [AMOUNT PER INSTALLMENT], starting from [START DATE OF INSTALLMENTS] and ending on [END DATE OF INSTALLMENTS].
IV. Method of Payment
All payments are to be made via [PREFERRED METHOD OF PAYMENT] directly to the designated company account or person as may be specified by the employer.
V. Governing Law
This IOU agreement shall be governed by and construed in accordance with the laws of [STATE/COUNTRY]. Any disputes arising from this agreement will be resolved under the jurisdiction of [CHOSEN JURISDICTION].
VI. Contact Information
To address any questions regarding this IOU, please utilize the following contact details:
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Company Name: [YOUR COMPANY NAME]
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Email: [YOUR COMPANY EMAIL]
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Address: [YOUR COMPANY ADDRESS]
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Phone Number: [YOUR COMPANY NUMBER]
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Website: [YOUR COMPANY WEBSITE]
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Social Media: [YOUR COMPANY SOCIAL MEDIA]
VII. Acknowledgment
By signing below, I, [YOUR NAME], agree and commit to fulfill the obligations stated herein. I fully understand that this document is legally binding and affirm my intent to repay the indebtedness.
VIII. Signature
Borrower's Signature
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Name: [YOUR NAME]
Date: ______________________________
