A Legal Document For Money Owed is a legally binding instrument that serves to confirm the existence of a debt owed by one party to another. It will usually include details such as the amount of money due, the length of time the money has been overdue, and any other pertinent information necessary to ensure that payment is made in full and on time. These documents are often signed by both parties, or by an independent representative, to make them enforceable under the law. Taking the time to draft and agree on a legal document for money owed can help avoid costly misunderstandings or disagreements down the line and will protect both parties’ interests.