Credit and Loans Subcategories

Subcategories are listed below to provide more narrow searching within the Credit and Loans category.

Knowledge Base Issues

What are the rights of a guarantor?
There are certain rights accorded to you as a guarantor before and after signing the contract of guarantee. These include: The right to obtain a copy of the letter of guarantee or contract of...
How do I withdraw as a loan guarantor?
A guarantor may request to be released from the guarantee. However, the decision is up to the financial institution. The financial institution may: Agree without conditions Agree subject to an...
What are the liabilities of a guarantor?
More often than not, guarantors willingly sign the contract of guarantee without fully realising the impact it may have in the future. Therefore, it is extremely important for a prospective...
What are the limitation of actions against guarantors? When will your liabilities as a guarantor be discharged?
Limitation Of Action Against Guarantors Where a guarantee is made payable on demand, a financial institution cannot bring an action against the guarantor until a demand has in fact been made under...
Does my signature of guarantee have to be witnessed? What should I do if I am not agreeable to some of the terms in the contract of guarantee?
Yes. Guarantees would normally be signed in the presence of a third party although it is quite common for the financial institution's officer to act as a witness. However, financial institutions...

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