Determining a Guarantee – What Does It Mean?
These days it is very hard to get any form of credit without a personal guarantee. Company directors, and sometimes even their spouses, are routinely called upon to sign guarantees for credit provided to the company. This could be to a trade supplier, equipment financier or bank. Often parents are asked to sign guarantees in favour of their children for home loans and other forms of bank finance. Once a facility is set, and a guarantee is in place, it can be very hard to get