Supplier IOU
Supplier IOU (I Owe You)
This IOU Agreement ("Agreement") is entered into as of the [DATE] by and between [YOUR NAME] (“Borrower”), with a principal place of business at [YOUR COMPANY NAME], and the undersigned supplier ("Supplier").
I. Borrower Details
[YOUR NAME]
Company Name: [YOUR COMPANY NAME]
Email: [YOUR COMPANY EMAIL]
Address: [YOUR COMPANY ADDRESS]
Phone: [YOUR COMPANY NUMBER]
Website: [YOUR COMPANY WEBSITE]
Social Media: [YOUR COMPANY SOCIAL MEDIA]
II. Promise to Pay
On or before the due date of [DUE DATE], [YOUR NAME] promises to pay to the Supplier the principal sum of [AMOUT] USD along with any accrued interest, under the terms set forth below, in connection with the supply of goods or services.
III. Payment Details
Payments shall be made to the Supplier following the payment instructions provided at the time of delivery or service completion. All payments shall be made in USD unless agreed otherwise by both parties in writing.
IV. Interest
In the event that this amount is not paid by the due date, interest shall accrue from the due date at a rate of [INTEREST RATE]% per annum.
V. Representation and Warranties
Each party represents and warrants that it has the power and authority to enter into this Agreement. [YOUR NAME], as Borrower, further represents that the funds borrowed under this Agreement will be used only for business purposes in connection with [YOUR COMPANY NAME].
VI. Governing Law
This Agreement shall be governed by, and construed in accordance with, the laws of the state or province of [STATE/ PROVINCE], without regard to its conflict of laws rules.
VII. Signatures
This IOU is executed as a binding agreement between the Borrower and the Supplier as of the date first written above.
[YOUR NAME],
Authorized Signatory
Authorized Signatory, Supplier
