Agreement to Pay Back Money Owed is a legal document that defines the conditions and terms of a loan repayment. This document outlines the borrower’s responsibilities, the interest rates, return timelines and any other related fees. It also serves as evidence that an agreement has been made between two or more parties for a loan transaction. As part of this agreement, both parties have agreed to pay back the amount owed in full. By signing this document, both parties are legally bound to fulfill their obligations as outlined in the agreement.