Free IOU for Sale of Goods Template
IOU for Sale of Goods (I OWE YOU)
Date: September 1, 2050
1. Parties Involved:
-
Seller (Lender):
-
Name: John Smith
-
Address: 123 Elm Street, Springfield, IL 62704
-
-
Buyer (Borrower):
-
Name: [YOUR NAME]
-
Address: 1857 Golf Course Drive, Chantilly VA 22021
-
2. Details of the Transaction:
-
Description of Goods Sold:
-
10 high-quality office chairs
-
-
Amount Owed (Principal):
-
$1,000.00
-
-
Interest Rate:
-
5% per annum
-
-
Total Amount Due (Including Interest):
-
$1,050.00
-
3. Payment Terms:
-
Payment Schedule:
-
Full amount due by October 1, 2050
-
-
Late Fees:
-
A late fee of $25.00 will be added for every 7 days past the due date
-
4. Notes:
-
Payment to be made via bank transfer to account number 2008467 at Springfield Bank.
-
Goods were delivered upon receipt of the first payment installment.
5. Acknowledgment:
By signing below, both parties acknowledge and agree to the terms outlined in this IOU.
Seller (Lender):
John Smith
September 1, 2050
Buyer (Borrower):
[YOUR NAME]
September 1, 2050
