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The IOU Promissory Note is a fundamental financial instrument widely used in Saudi Arabia for documenting debt obligations in both personal and commercial contexts. It serves as a formal acknowledgment of debt and a promise to pay, structured to comply with both Saudi Commercial Papers Regulation and Islamic Sharia principles. This document is particularly valuable when parties need to formalize a debt arrangement, document a payment obligation, or secure a business transaction. The promissory note must be carefully drafted to avoid any elements of riba (interest) while maintaining its enforceability under Saudi law. It typically includes detailed information about the parties, the exact amount owed, payment terms, and due dates. The document's format and content are designed to ensure it can be used as evidence in Saudi courts and is recognized by financial institutions.

1. Document Title and Date: Clear identification as a Promissory Note (سند لأمر) with the date of issuance

2. Maker Information: Full legal name, address, and identification details of the person/entity making the promise to pay

3. Payee Information: Full legal name, address, and identification details of the person/entity to whom payment is promised

4. Promise to Pay: Unconditional promise to pay a specific sum, with the amount in both numbers and words

5. Payment Terms: Due date or payment schedule, place of payment, and payment method

6. Consideration Statement: Statement confirming the value received or consideration for which the note is issued

7. Governing Law Declaration: Statement confirming Saudi law and Sharia compliance

8. Signature Block: Space for maker's signature, with official stamp if a company