Iou Promissory Note Template for Indonesia

An IOU Promissory Note is commonly used in Indonesian business and personal transactions when one party wishes to formally acknowledge and document a debt obligation to another party. This document type is particularly relevant when parties need a legally enforceable record of debt that can be used for future reference or potential legal proceedings. The note must comply with Indonesian legal requirements, including those set forth in the Civil Code (KUHPerdata) and Commercial Code (KUHD). It typically includes essential information such as the parties' identities, the principal amount, payment terms, due dates, and any applicable interest rates. The document may require notarization for larger amounts or when additional legal security is desired. IOU Promissory Notes are widely used in both business-to-business transactions and personal lending situations, providing a clear and formal record of debt obligations.

1. Document Title and Date: Clear identification as a Promissory Note (Surat Pengakuan Hutang) with date of execution

2. Parties Information: Complete details of the maker (debtor) and payee (creditor), including full legal names, addresses, and identification numbers

3. Amount of Debt: The principal amount in both numerical and words format, specified in the agreed currency

4. Promise to Pay: Clear and unconditional promise to pay the stated amount

5. Payment Terms: Specific details about when and how the payment will be made, including due date or installment schedule

6. Interest Rate: If applicable, the agreed interest rate and calculation method

7. Place of Payment: Specified location or method where payment should be made

8. Signatures: Space for signatures of the maker, payee, and witnesses