IOU Form BasicsLend money to your friends and family and be sure to be repaid with this IOU form! An IOU Form is a legally binding document. It allows you to lend money in all safety. Makes accounting easier, and no excuse not to be repaid! For more loan features, use a promissory note. IOU letters are a legal document acknowledging debt. It cannot be used to operate an unlicensed money lending business as per lending Moneylenders Act (Chapter 188). However, IOU templates can be used between individuals. For more information, consult our FAQ for IOU. as well as Moneylenders Act.
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