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 […]