1. If the repayment period is stipulated in the IOU, it will be valid for 3 years from the due date;
2. If an individual IOU has an agreed repayment period, the limitation of action shall be calculated according to the agreed due date;
3, 3 years, if there is a relative person claiming rights, there should be evidence to prove that the limitation of action is recalculated for 3 years from the date of claiming rights, and the calculation process is not limited;
4. The system of interruption and suspension will also be applied to the limitation of action to recover arrears, and the longest period stipulated by law can be 20 years.
IOUs usually apply to the following situations:
1. When buying goods or products, I have to write a debit note because I can't pay or can't pay all the money of others;
2. The money and things borrowed from others or units can't be returned by then, or can't be returned in full, and some of them are in arrears. At this time, you need to write an IOU;
3, borrowed personal or public money and things, after the completion of the certificate, can also be called IOUs.
To have legal effect, IOUs should pay attention to the following parts:
1. The legal full names of the borrower and the lender shall be clearly written;
2. The loan amount should be clearly written, including the amount expressed in words and figures;
3. The term of the loan should be clearly written, including the start and end dates of the loan and a clear loan term;
4. The specific repayment date should be clearly written;
5. The interest of the loan should be clearly written, and there should be a clear annual or monthly interest rate and the final loan interest payable. ;
6. The date, month, day, time and payment method of repayment of loan principal and interest should be clearly written;
7. There should be the borrower's personal signature, handprint or handwritten signature.
In short, the validity period of individual IOUs should be determined according to the actual situation. If an individual IOU has an agreed repayment period, the limitation of action shall be calculated according to the agreed due date, which is generally three years. If there is reason to suspend or interrupt within three years, it will be more than three years. If the repayment period is not agreed, it shall be within two years from the date when the IOU is issued. As mentioned above, the suspension and interruption of the limitation of action also apply. The creditor's rights to the debtor may lead to the suspension and recalculation of the limitation of action.
legal ground
People's Republic of China (PRC) Civil Procedure Law
Article 246:
The application period is two years. Where an application is made for suspension or interruption of the limitation of execution, the relevant provisions of the law on suspension or interruption of the limitation of action shall apply. The period specified in the preceding paragraph shall be counted from the last day of the performance period determined by legal documents; If the legal document stipulates that the performance shall be performed by stages, it shall be counted from the date when the last performance period expires; If the legal document does not stipulate the time limit for performance, it shall be counted from the date when the legal document takes effect.