For Only:
Kshs 5,000
Corporate Guarantee issued by an Individual
This precedent is intended to act as a guide in drafting a Corporate Deed of Guarantee and Indemnity. It may be modified or amended as need be.
A Corporate Deed of Guarantee and Indemnity is a document between a Lender, Borrower and Guarantor in which an Individual takes responsibility for the repayment obligation of the Borrower (Principal Debtor) in the event it defaults and/or faces insolvency and cannot meet its obligations for repayment.
Table of Content
- To Pay On Demand
- Continuing Security
- The Principal Debtor
- Effect Of Insolvency Of The Guarantor
- Notice To Determine Guarantee
- Payment
- New Account
- Effect Of Principal Debtor’s Insolvency
- Proviso To Settlement Or Discharge
- Effect Of Other Securities, etc.
- Indulgence
- Resorting To Other Means Of Payment
- No Proof In Competition With Lender
- Evidence Of Amount Due
- Set Off
- Change In Constitution Of Principal Debtor Or Guarantor
- No Security Received By Guarantor
- Money Not Recoverable On Footing Of Guarantee
- Change In Lender’s Constitution
- Other Currencies
- Payments By Guarantor
- Indemnity
- No Waiver Of Rights Under Guarantee
- Joint And Several Liability
- Co-Guarantor
- Demands
- Interpretation
- Miscellaneous
- Governing Law And Jurisdiction
- Property In The Guarantee To Belong To The Lender