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

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

From 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.

From 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.

From BBC

A bond is a bit like an IOU that can be traded in the financial markets.

From BBC

While that may be technically correct, the £1.68bn value is based on an IOU that is ultimately backed up by Severn Trent Water itself.

From BBC