Free IOU for Friends and Family

Date: September 1, 2050
IOU Amount: $500
Interest Rate: 5%
Description of Service or Favor:
Service/Favor Provided By: John Smith
Service/Favor Requested By: [YOUR NAME]
Details:
Nature of Service/Favor:
Home renovation (kitchen remodel)
Project management for event planning
Personal assistance with tech setup
Deadline for Completion: December 1, 2050
Agreed Upon Payment or Compensation:
Total Amount Due: $500
Interest to be Added After Deadline: 5% per month
Repayment Terms:
The service will be completed by the specified deadline of December 1, 2050.
If not completed by the deadline, the borrower agrees to pay the total amount of $500 plus interest at the rate of 5% per month.
Repayment should be made in the following manner:
Full amount at once
Installments of $250 every 2 months starting January 2051
Signatures:

John Smith
LENDER

[YOUR NAME]
BORROWER
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Create thoughtful IOUs effortlessly with Template.net's IOU for Friends and Family Template. This fully customizable and editable template, paired with our AI Editable Tool, ensures you can personalize every detail to your needs. Perfect for personal use, this template makes managing informal loans easy and professional. Get yours today at Template.net!