An IOU in financial terms is referred to as a document used for recording a debt taken by a person from a lender. The details of the debt such as the sum of money given in debt and the time of debt are documented in it.
By signing an IOU, you are legally bound to the lender and terms of the document warrant a legal treatment from there on. It is usually used to maintain a record of the debt in most cases.
It is also known by the names of Registered Warrant and the “I Owe You” form.
Our template allows you to quickly draft the document by using a fully editable electronic file that contains all the legal terms required for the document, duly checked by a practicing attorney.
Simply insert the specific information related to the person you are taking or giving the debt to complete the process. This ensures legal integrity of your document and also saves time.