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Instructions

1

First clearly understand for yourself what issurety. This way of enforcing the terms of the contract implies that the guarantor assumes joint and several liability to the creditor for the failure of the debtor to fulfill its obligations.

2

For the guarantor, the jointin that the creditor can choose, to whom to make their demands: to the debtor or the guarantor. As a rule, sureties are secured by monetary obligations, including accrued interest and penalties. However, in the context of mortgage or mortgage relationships, the guarantor can provide his property with security.

3

Conclude a contract in writingsurety. It can be both two - and three-way (with the debtor's participation). Describe in the contract such significant terms as the deadline for the performance of the principal obligation and the amount of debt provided by the surety. In addition, in the contract it is necessary to determine the timeframe for the operation of the guarantee.

4

If within the allotted time the debtor has not fulfilled its obligations, present at your choice a claim to it or a surety. Simultaneous filing of claims both to the debtor and to its guarantor is also allowed.

5

When the obligation is first performed by the guarantor,he has the right to receive from the debtor the amount paid in order of recourse. In this case, the guarantor becomes a creditor for the debtor. If the obligation is earlier executed by the debtor, he must immediately notify the guarantor. There can be a situation where the obligation will be fulfilled by both the debtor and the guarantor. Then, the guarantor has the right to recover the relevant amount from both the debtor and the creditor.

6

Remember the reasons for whichthe guarantee is terminated ahead of schedule. First, these are changes that occurred without the consent of the guarantor in the main obligation, by virtue of which the scope of his responsibility increases. For example, the bank increased the interest on the loan agreement without agreeing with the guarantor. Secondly, the transfer of the debt on the principal obligation was made without the approval of the guarantor. This includes cases where the obligations of the debtor passed to his heirs.

Tip 2: How to stop bail

Under the terms of the contract of guarantee you take onself-fulfillment of the debt obligations of another party to the contract, which he takes before the credit institution. This form of security takes into account the requirements that have already arisen, as well as those that will appear in the future. If, as a guarantor, you want to terminate the contract, provide for this opportunity in advance, because even in a judicial order to cease to be a surety is rather difficult.

Instructions

1

Study carefully the loan agreement and the contractsurety, which you will sign. Having understood the subtleties of documents, you will save yourself from many troubles in the future. If you are not fully aware of the consequences of concluding a contract of guarantee, refuse to participate in the contract, even if you have to spoil relations with a person who asked you to act as a guarantor.

2

Apply with the application to the credit institution,the guarantor for the loan of which you already are. In the statement, indicate fairly good reasons for which you can not continue to be a surety. It can be, for example, a change in your life circumstances that do not depend on your will and reduce your solvency.

3

The application must be registered with the secretaryor send to the bank by registered mail with a notification. Wait for the decision on your application. Credit organizations in most cases respond to such applications with a justified refusal, referring to the provisions of the law. But in some cases, the bank can decide in your favor and change the guarantor.

4

Apply to a court in the presence of a writtenrefusal of the credit organization. Present to the court convincing evidence of your inability to act as a guarantor for the loan. If you are lucky, the court will decide in your favor.

5

Take measures to repay the loan by the borrower orextinguish it yourself. In this case, the surety agreement is also terminated. In order for such a step to be possible, the loan agreement should provide early repayment of obligations, so carefully study the documents signed with the bank.

6

Wait for the termination of the guarantee period specified in the contract. Even if the loan is not fully repaid by this time, your surety is terminated. If the term of its operation is not specified in the contract, surety terminated if the creditor fails to file a claim within one year after the maturity date.