By Raphaël MORENON
1 April 2025
Lending money to a loved one or extending a payment term is often based on trust. But over time, memories fade and relationships change. A disagreement may arise over the very existence of a debt. How do you prove that a sum has been lent? How do you guarantee repayment of a debt? The IOU responds to these issues by establishing solid legal proof between the lender and the borrower. This written document formalises a person's commitment to repay a sum of money. Far from being a mere formality, it provides genuine legal protection for both parties. Whether you are expecting repayment or have made a commitment to pay, it is essential to understand how an IOU works. This article explains its definition, its evidential value, the formal requirements to be met, the mistakes to avoid and the steps to take in the event of non-payment. What is an IOU?
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