IOU

Or I.O.U.

1. a written acknowledgment of a debt, especially an informal one consisting only of the letters IOU, the sum owed, and the debtor's signature.

IOU

noun

1. a written promise or reminder to pay a debt

IOU

1. Abbreviation for “I owe you.” An IOU is a written statement of a borrower's obligation to pay a debt.

Word History and Origins

Origin of IOU¹

First recorded in 1610–20; representing I owe you

Word History and Origins

Origin of IOU¹

C17: representing I owe you

Example Sentences

Should a player lose beyond his ability to pay, the others may allow him time to pay off his loss—usually, time until the next game—and he may offer up an IOU.

Read more on The Wall Street Journal

If it doesn't, the EU could forgive Kyiv's debt – but it would still have to repay the money it borrowed to fund the IOU to Euroclear.

Read more on BBC

Governments sell bonds - essentially an IOU - to raise money for public spending and in return they pay interest.

Read more on BBC

The government sell bonds - essentially an IOU - to raise money from financial markets and these are viewed as a safe investment, meaning the US normally does not need to offer high rates to attract buyers.

Read more on BBC

Investors see US Treasury securities as one of the safest possible bets, because the bonds - which are kind of like an IOU - are backed by the US government.

Read more on BBC