Why representations and warranties are a must have clause in your agreement
WHY REPRESENTATIONS AND WARRANTIES ARE A MUST HAVE CLAUSE IN YOUR AGREEMENT Representation and warranty clauses are an essential part of any agreement as they help to provide a level of assurance and protection to all parties involved in the agreement. These clauses are typically included in contracts or other legal documents, and they serve […]
Why You need that Acceleration Agreement (clause)
WHY YOU NEED THAT ACCELERATION AGREEMENT (CLAUSE) An acceleration agreement is a type of clause found in many types of contracts that allows the contracting parties to accelerate the performance of obligations in certain circumstances. For example, if a borrower fails to make their loan payments on time or violates other terms of their loan […]
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 […]
10 Must Have Clauses in an LLP Agreement That Are Not Prescribed Under the LLP Act.
10 Must Have Clauses in an LLP Agreement That Are Not Prescribed Under the LLP Act. 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 […]
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 […]
