How to stop guarantee

The guarantee is the main guarantee provision fulfillment of credit obligations borrower. When borrower Does not perform specified obligations before lender, organization provided credit, has the right in court to recover the amount of debt from the guarantor and the debtor jointly. There are cases when maybe Termination / termination of guarantee.

Termination of the main obligation. Commitment can be performed borrower full volume.

Changing the main obligation without the consent of the guarantor. Changes in the loan agreement between the lender and borrower – Increased liabilities borrower Due to the increase in the period loan Without the written consent of the guarantor.

The expiration of the contract of guarantee. The term of guarantee is prescribed in the contract of guarantee by a separate paragraph. If there is no such point, the guarantee stops, if Within two years from the date of the conclusion of the contract, the credit organization does not make a lawsuit for the guarantor.

Long transfer borrower Another physical face for which the guarantor refused to refuse. The termination of the guarantee is legally, if there is no condition for the responsibility of the transfer of debt to another person or in case of death borrower and entry into the rights of heirs borrower.

Refusal by creditor accept Suitable performance OT borrower or guarantor after the expiration of obligations. This refusal must be fixed documented to confirm the fact of refusal.

Recognition of a loan agreement is invalid. The loan agreement is considered invalid if borrower Recognized incapable – For physical personsFor legal persons – confession borrower organization Bankrupt before filing the claim of the creditor to court.

7) Registration / conclusion of a loan agreement faceWith no relevant legal authority. In the case when the guarantor of the legal organization is an individual, not endowed Special powers .

Before agreeing to the role of the guarantor, even for loved ones, it is worth considering everything "for" and "against". After all, different situations happen in life, according to which the borrower cannot or does not want to fulfill their commitments. And then the creditor bank can nominate the payment requirements to the guarantee, up to the removal of the monetary and valuable property of the latter.