South Carolina IOU
South Carolina IOU (I Owe You)
This IOU Agreement is made and entered into on [DATE], by and between [YOUR NAME] ("Borrower") of [YOUR COMPANY NAME], and [LENDER NAME] ("Lender"). This document serves as an acknowledgment that the Borrower owes the Lender the sum mentioned below under the agreed terms and conditions.
I. Principal Amount
The Borrower agrees to owe and promises to pay to the Lender the principal sum of [PRINCIPAL AMOUNT], without interest.
II. Payment
Repayment of the principal sum shall be made in the following manner:
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Total amount to be repaid in instalments of [INSTALLMENT AMOUNT] each month.
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The first payment shall be due on [FIRST PAYMENT DATE] and subsequent payments on the same day of each month thereafter.
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The final payment shall be made on [FINAL PAYMENT DATE], at which time the remaining balance will be paid in full.
III. Borrower’s Details
The Borrower, [YOUR NAME], can be contacted via:
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Company Name: [YOUR COMPANY NAME]
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Email: [YOUR COMPANY EMAIL]
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Company 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]
IV. Miscellaneous
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This IOU is bound by the laws of South Carolina, and any legal proceedings related to this agreement shall take place in the courts located within South Carolina.
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Both parties affirm that this IOU constitutes a legal, valid, and binding obligation, enforceable against each party in accordance with its terms.
V. Signatures
Both parties agree to the terms outlined in this IOU Agreement and affix their signatures below:
[YOUR NAME]
Lender
[DATE]
[BORROWER'S NAME]
Borrower
[DATE]
