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How to Write an IOU Note

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IOU that is the abbreviation of I owe you, is actually an informal document for the acknowledgment of debts. It is normally written in the event when you are going to lend some amount of money to anyone that could be your relative, friend or anyone. You write this informal document to keep it as a proof of loan agreement and when you to get that lending amount back from the borrower by a specific time.

How to Write an IOU Note

Steps to Write an IOU Document

If you want to write an IOU and don’t know how to write it then follow the steps given below.

Specify what is being borrowed?

First of all, while writing an IOU document you should clearly highlight the object which you are lending and if it is a particular amount of money then also specify the exact amount which you have lent.

Specify the Repayment Deadline

You should specify the deadline of the loan repayment in that IOU document.

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September 2011
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