IOU Notarization Fees and Legal Effects. There are many people who are worried about not being able to borrow and receive money between close friends. The IOU itself does not have much legal effect, and if it becomes a notary through notarization, it can be enforced, so please notarize it.
IOU notarization fee
If you borrow money or goods with an IOU, and the debtor (borrower) does not return the money on the date promised, there is no way to get the money back.
You can get it back only if you win the lawsuit, but the result comes out only after a long time of being bored and hurt with the debtor who has a heart that you won’t give it back. 공증 비용
A notarized IOU is a civil matter. Along with the strong evidence power of criminal trials, the debtor’s property can be compulsorily executed without going through a civil lawsuit when writing a “promissory note notarization”. 좋은뉴스
go. Notarization and librarian certificate authentication
A notarized deed can be enforced with a deed that acknowledges that “immediate compulsory execution may be effected in case of non-fulfillment of obligations.”
Private certificate authentication is a document that acknowledges that “this document is true” and cannot be enforced, and can be used as material for litigation.
The fees below are notarization fees for enforceable notarial deeds, and fees for private deeds are lower than notary fees.
1. IOU notarization fee (notarization fee)
It depends on the contract amount of the IOU (amount of loaned amount)
The title is “Purpose of legal action or value of bills and checks”
Contract amount Cost (commission)
~2 million won 11,000 won
2 million to 5 million won 22,000 won
5 to 10 million won 33,000 won
10 to 15 million won 44,000 won
15 million won ~ 3/2000 of the excess amount, up to 3 million won
30 million won 66,500 won
50 million won 96,500 won
100 million won 171,500 won
500 million won 771,500 won
The cost (notarization fee) is borne by the debtor.
2. Retention period of IOU
The notarization of the IOU is kept for 3 years and then destroyed. Storage fee 3,000 won for additional period
3. IOU Expiration Period
An IOU expires 10 years from the date on which it is due.
You can resend the proof of contents or rewrite the IOU and notarize it to extend it.
4. Required Documents for Notarization of IOU
Notarization can be done at a lawyer’s office or a notary office that has received notarization from the Minister of Justice.
Creditors and debtors prepare the necessary documents and visit.
Creditor’s seal, identification
Debtor’s personal seal, identification
IOU
Agent’s seal and identification card
contract notarization
Notary fee
me. Legal effect upon notarization of IOU
a. Claims (filement of payment order, participation in bankruptcy proceedings, application for auction)
b. Seizure (seizure of the debtor’s property, provisional seizure, provisional disposition)
c. Approval (Certification of contents of compensation for damages, debt claim, etc.)
IOU Notarization Fees and Legal Effects. Please do not worry and get notarized.