Credit and Loans Subcategories

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

Knowledge Base Issues

Will my liability as a guarantor be discharged upon the death of the borrower?
No. The financial institution will freeze the account of the borrower to determine the indebtedness and unless there are other sources of payment, the financial institution will seek recourse from...
If there is more than one guarantor and each of them came to the bank at different times to sign the guarantee, how should we sign?
It is advisable that all guarantors sign on the same document at the same time. However, in this particular type of situation, the respective guarantors can sign one guarantee document at...
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...
I don't read or write English. Can I execute a guarantee in the English language?
The guarantor is advised to have the document translated to him and it must be expressly stated on the document that the contents of the document has been explained and fully understood by the...
What are the do's and don'ts of being a guarantor?
Do's and Don'ts Read and understand the nature of the guarantee. A prospective guarantor must not sign a document that he has not read or sign a document which is in fact a blank form or a...

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