Understanding the roles and responsibilities of a guarantor

UNDERSTANDING THE ROLES AND RESPONSIBILITIES OF A GUARANTOR A guaranteed loan is a loan that a third party guarantees or assumes the debt obligation for, in the event that the borrower defaults. The third party is a guarantor often making reference to either a legal person or an individual who promises to pay a borrower’s debt in the event […]

Key elements of a guarantor loan agreement

KEY ELEMENTS OF A GUARANTOR LOAN AGREEMENT A Guarantor Loan Agreement (also known as a Deed of Guarantee) refers to an agreement between a Financial Institution (the Lender) and the Guarantor detailing the rights, responsibilities, procedures, terms, and conditions under which a loan provided by a Financial Institution and advanced to a Borrower may be guaranteed. 6 […]

Protecting Your Interests in a Guarantor Loan Agreement

Protecting Your Interests in a Guarantor Loan Agreement When someone takes out a loan, lenders may require a guarantor to sign on as well. A guarantor is someone who agrees to be responsible for repaying the loan if the borrower is unable to do so. While it may seem like a simple task, agreeing to […]

The 5 Types of Construction Contracts You Need to Know

The 5 Types of Construction Contracts You Need to Know A construction contract can be defined as a legal document that is can be entered into between all parties involved in the construction and details the scope and terms of the project or development. There are 5 types of construction contracts. These are: Lump sum […]

Importance of drafting an Engagement Agreement.

Importance of drafting an Engagement Agreement. An engagement agreement is a contractual arrangement between parties that outlines their responsibilities. The agreement’s scope, terms, and expenses are described in detail in the letter, setting clear expectations for all parties to the agreement on the objective of an engagement agreement. An engagement agreement can be utilized in […]

Advantages and disadvantages of limited liability partnerships

ADVANTAGES AND DISADVANTAGES OF LIMITED LIABILITY PARTNERSHIPS A limited liability partnership (LLP) can be defined as an incorporated business formed by 2 or more natural persons or a body corporate and is governed by the Limited Liability Partnership Act 2011 (LLP Act). LLPs are a perfect fit for most professionals like lawyers and doctors, two […]

6 Key Clauses in the Partnership Agreement to make your small business huge.

6 Key Clauses in the Partnership Agreement to make your small business huge. Depending on the size of the business activities and the number of partners engaged, partnerships can be complex. The formulation of a partnership agreement is essential in this kind of business structure to lessen the possibility of conflicts among partners. Although each […]

Five important clauses you cant ignore in partnership agreement

FIVE IMPORTANT CLAUSES YOU CAN’T IGNORE IN PARTNERSHIP AGREEMENTS. There are three types of partnership: General partnership (GP); Limited partnership (LP); and Limited liability partnership (LLP). The  founding partners various objectives informs the type of partnership they choose to deploy. For example: A general partnership has the simplest/quickest incorporation process; while limited partnerships are often […]

The 6 major advantages of registering your trademark

THE 6 MAJOR ADVANTAGES OF REGISTERING YOUR TRADEMARK A trademark is a form of intellectual property, where registration is proof of ownership. In a country that is cognizant of both unregistered and registered trademarks, registering your Trademark is the quickest and most cost-effective way to ensure legal exclusivity for the use of your name or […]