Click here to Purchase Africans, Stop Being Poor! FINANCIAL GUARANTEE DRAFT SAMPLE

Entry Page
VIP-Members
Jobs & Projects
We Deliver
Add Links
WhoWeAre
Funding
Services
Newsletter
Contact Info
Contact-Support
Site Search by Freefind


Only US$12.75
Achetez Africains, Refusez de Rester Pauvres!



A good Business Plan is a must

Loan package for African countries

THIS SERVICE HAD BEEN DISCONTINUED

FINANCIAL GUARANTEE DRAFT


We the undersigned

(hereinafter known as the Guarantors), declare that we stand surety and in this capacity do guarantee _____________________ of _______________________________ (hereinafter known as the Borrower) in respect of all sums which the Borrower owes or may owe to _________________________ of ____________________________________ (hereinafter known as the Lender) in respect of a loan credit furnished for ____________ Except as hereinafter defined in this guarantee whereby any claim payment will be increased by interest following notification of a claim, the maximum liability under this guarantee shall in no way exceed ________

The present cover guarantees remittance by the Borrower of repayment in accordance with the Loan Agreement dated ________________ (hereinafter known as the Agreement) attached to and forming part of this guarantee, said Agreement shall contain details of the security being taken by the Guarantor to secure this loan and distribution of funds.

Any failure to make repayments, in accordance with the Agreement by the Borrower, must be notified to the Guarantors within 14 days, and the Guarantors must be allowed 21 days to cure the default.

Default is defined as the failure of the Borrower to make repayment following the curing of the default as outlined in the Agreement attached hereto.

In the event of a demand being made to cure any default, or in the event of the default not being cured within 21 days of the demand being made, and the loan being called, the Lender shall submit to the Guarantors with any demand for payment, the following:

1. Details of the alleged default, together with an itemized notarized statement of all payments made by the Borrower.

2. Copy of the demand made upon the Borrower for the payment.

3. A certified copy of this guarantee, and confirmation that the original will be surrendered for cancellation against payment of the amount outstanding.

Following the curing of any default(s) or the payment of any installment(s) demanded under this guarantee, the Lender undertakes to hold all the security outlined in the Agreement and/or any other agreement pertaining to this contract to the order of and for the control of the Guarantors. In the event of partial payment being made to cure a default, the security is to be held jointly to the order of the Guarantors and the Lender, in proportion to payments made.

In the event of default being cured, and providing payments are made to honor the Agreement either by the Borrower or the Guarantor then the loan will be allowed to continue to run its normal course and no accelerated repayment will be allowed.

In the event of default as heretofore defined occurring, and demand for payment being made, the Lender agrees to allow the Guarantor a period of 90 days in which:

o To check the validity of the claim.
o To take possession of and obtain title to the security.
o To market and liquidate the security.

Following the liquidation of the security or the expiry the 90-day period, whichever is the sooner; the Guarantor undertakes to pay forthwith the amount of the claim as agreed between the Lender and Guarantor.

Following default and the notification of a claim, the Guarantor agrees that any claim payment will be increased by interest at 2% per month to be calculated from the date of default, up to the date of payment.

This Guarantee is for one year and shall expire on __________________. Should no default occur under this Guarantee, and subject to the payment of the appropriate renewal fee not later than 14 days prior to each expiry, this Guarantee may be extended for a further two (2) periods of 1 year, expiring on __________________ and ___________ respectively.

This Guarantee will be governed in all respects by the laws of the State of place of jurisdiction _________________________

Made at __________________________ on _____

Signed by: ________________________________

TOP

HAVE A BUSINESS PLAN
FREQUENTLY ASKED QUESTIONS

Click for Banners Positioning and Pricing
SEARCHING FOR SUCCESS IN HOME BUSINESS?
YOU NEED A COMPUTER & THE RIGHT KNOWLEDGE & TIPS

Click Here to Download Free eBooks for Successful Home Business