Free IOU Agreement Form

1. Title
IOU Agreement
2. Parties Involved
Lender:
Name: Amanda Smith
Address: 123 Elm Street, Springfield, IL 62701
Phone: 222 999 0000Borrower:
Name: [YOUR NAME]
Address: 4888 Hillcrest Circle, Crystal MN 55429
Phone: 222 555 7777
3. Amount Owed
Principal Amount: $500.00
4. Interest
Interest Rate: 5% per annum
5. Repayment Terms
Total Amount Due: $525.00
(Principal Amount + Interest)Repayment Schedule:
Start Date: September 10, 2050
Payment Frequency: Monthly
Payment Amount: $105.00
Final Payment Due Date: January 10, 2051
6. Terms and Conditions
Prepayment: The borrower may prepay the loan amount in full or in part at any time without penalty.
Late Fees: If a payment is not made within 10 days of the due date, a late fee of $25.00 will be charged.
7. Date of Agreement
Date: September 1, 2050
8. Signatures

Amanda Smith
Lender

[YOUR NAME]
Borrower
9. Additional Notes
This IOU Agreement is a formal acknowledgment of debt. Both parties agree to adhere to the repayment terms outlined above.
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Effortlessly create legally binding agreements with Template.net's IOU Agreement Form Template. This fully editable and customizable template simplifies your documentation process. Tailor each section to your specific needs using our AI Editable Tool, ensuring accuracy and professionalism. Perfect for any financial arrangement, this template is your go-to resource for reliable, easy-to-use agreement forms.
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