Louisiana IOU
Louisiana IOU
This IOU Agreement ("Agreement") is made effective as of [DATE], by and between [YOUR NAME] ("Borrower") and [LENDER NAME] ("Lender").
I. Borrower Information
Name: [YOUR NAME]
Company Name: [YOUR COMPANY NAME]
Email: [YOUR COMPANY EMAIL]
Address: [YOUR COMPANY ADDRESS]
Phone Number: [YOUR COMPANY NUMBER]
Website: [YOUR COMPANY WEBSITE]
Social Media: [YOUR COMPANY SOCIAL MEDIA]
II. Lender Information
Name: [LENDER NAME]
Contact: [LENDER CONTACT]
Address: [LENDER ADDRESS]
III. Loan Details
Principal Amount: [LOAN AMOUNT] USD
Loan Date: [LOAN DATE]
Repayment Due Date: [REPAYMENT DUE DATE]
IV. Repayment Terms
The Borrower promises to pay the Lender the principal sum of [LOAN AMOUNT] USD by the agreed due date of [REPAYMENT DUE DATE]. Payment will be made in the following manner: [SPECIFY PAYMENT METHOD].
V. Interest
This loan will be subject to an annual interest rate of [INTEREST RATE]%.
VI. Prepayment
Borrower may prepay the balance at any time prior to the due date without penalty.
VII. Default and Remedies
In the event of default, Borrower fails to make payments when due, the full balance including any accrued interest may be declared due and payable upon demand by the Lender. Legal actions may be taken for the collection of dues.
VIII. Governing Law
This Agreement shall be governed by the laws of the State of Louisiana.
IX. Amendment
This Agreement may only be amended or modified by a written agreement signed by both parties.
X. Signatures
Both parties acknowledge receipt of this Agreement and consent to its terms and conditions.
Borrower's Signature:
Date:[DATE]
Lender's Signature:
Date:[DATE]
