There are benefits to having an IOU drafted when loaning anyone money or items.

Having an IOU drafted by a Lawyer gives you even more benefits when there is a dispute.


An IOU is a written document where both the lender and borrower agrees to the specified terms.

These terms should minimally include the following points:

  • The date on which the money or item was loaned;
  • The specifics of what was loaned
  • The full details of the lender and borrower (Name, NRIC No, Address, Contact details);
  • The repayment or return terms; and
  • The interest rate (if any).


Yes, You may be friends now, but what happens when they fail to return you your money or your items?

An IOU is an insurance plan, when things go wrong at least you have a document to rely upon to help you recover what is due.

Do speak to us today on how we can assist you.

Yes, unless specifically stated an IOU can be relied upon for a period of six (6) years from the date on which payment ought to have been made. 

This time frame is explicitly mentioned in the Limitation Act.

You need to ask yourself why your friend is being dodgy? Does he/she know that she won't be able to return you your money or property?

We believe that if the borrower is genuine, they would have no issues signing an IOU.

Do speak to us if you would like us to negotiate with your borrower on your behalf. 

If you have an IOU then you may sue your friend for the return of the money or property owed.

If you do not have an IOU, it is best that you speak to us first so that we may find solutions for you. 

Yes. If you have read this far why not speak to us? Our consultations are free.

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