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The Acknowledgement Receipt For Borrowed Money is a crucial document in Philippine lending practices, used to formalize loan transactions between individuals and/or business entities. This document is particularly important in contexts where formal bank loans are not utilized but legal documentation of the debt is necessary. It complies with requirements under the Civil Code of the Philippines and the Truth in Lending Act, providing a legally enforceable record of the borrowed amount, repayment terms, and parties involved. The document is commonly used in both personal and business settings, ranging from simple personal loans to business capital lending, and can be especially valuable for small-to-medium enterprises seeking to document their borrowing activities. While simpler than a full loan agreement, it still carries legal weight and can be used as evidence in Philippine courts if disputes arise.

1. Date and Location: The specific date when the money was borrowed and location where the transaction took place

2. Parties' Information: Complete names, addresses, and contact information of both the lender and borrower

3. Amount Acknowledgement: Clear statement of the borrowed amount in both numerical and written form

4. Terms of Repayment: Specific repayment date or schedule, including whether it's a lump sum or installment payment

5. Interest Rate: Clear statement of any applicable interest rate, calculated according to Philippine law

6. Mode of Payment: Specified method of repayment (cash, bank transfer, etc.)

7. Signatures: Space for signatures of both parties and witnesses