REPAYMENT GUARANTEE Clause Samples
A Repayment Guarantee clause serves to ensure that a third party, often a guarantor, promises to repay a debt or financial obligation if the primary borrower defaults. In practice, this clause typically outlines the conditions under which the guarantor must fulfill the repayment, the scope of the guarantee, and any limitations or exceptions. By including this provision, the lender gains additional security, reducing the risk of non-payment and increasing the likelihood that the loan or obligation will be satisfied even if the original debtor fails to pay.
POPULAR SAMPLE Copied 12 times
REPAYMENT GUARANTEE. We, the undersigned, hereby accept jointly and severally, liability for the repayment of this loan in the event of the borrower’s default. We understand that the amount in default may be recovered by an offset against our deposit or attachment of our property, salary.
REPAYMENT GUARANTEE. We the undersigned hereby accept jointly and severally liability for the repayment of the loan in the event of the borrower's default. We understand that the amount in default may be recovered by an offset against our shares in the society or by attachment of our property or salary and that we shall not be eligible for loans unless the amount in default has been cleared if full. For official use only: LOANS OFFICE
a) Total Shares Kshs. b). Loan outstanding Kshs.
REPAYMENT GUARANTEE. We, the undersigned, hereby accept jointly and severally, liability for the repayment of this loan in the event of the borrower’s default. We understand that the amount in default may be recovered by an offset against our deposit or attachment of our property, salary. Where Collateral is used as security, fill the following portion: LR. NO (where applicable) Brief description of the property Property location Sub location street/estate Estimated Value of property Is the property charged? Yes No (if yes) Chargee Details
REPAYMENT GUARANTEE. GUARANTORS
REPAYMENT GUARANTEE. We, the undersigned, hereby accept jointly and severally, liability for the repayment of the loan in event of the borrower’s default. We understand that the amount in default may be recovered by an offset against our share s in the society or by attachment of our property or salary and that shall not be eligible for loans unless the amount in default has been cleared in full. We also authorize our employer(s) to recover the defaulted loan from our m onthly salary. Minimum guarantors of short-term loans are TWO and FOUR for long-term Loans. DO NOT GUARANTEE MORE THAN SIX TIMES YOUR DEPOSITS. Guarantorship confirmed by
REPAYMENT GUARANTEE. We the undersigned hereby accept jointly and severally liability for the repayment of the above applied for loan in the event of the borrower’s default. We understand that the amount in default may be recovered by an offset against our shares in the society or by attachment of our property or salary and that we shall not be eligible for loans unless the amount defaulted by the loan applicant has been cleared in full. Each guarantor should state the amount for which he accepts liability in the event of default.
REPAYMENT GUARANTEE. We the undersigned hereby accept jointly and severally, liability for the repayment of the loan in the event of the borrower’s default. We understand that the amount in default may be recovered by an offset against our shares in the Society or by attachment of our property or salary, and that; we shall not be eligible for loans unless the amount in default has been cleared in full. Name Society No. Shares K Loans K Existing Guarantees Guarantor’s Signature Witness Signature & Payroll # K No. TOTALS
REPAYMENT GUARANTEE. We, the undersigned, hereby accept jointly and severally liability for the repayment of the education loan in the event of the borrower's default. We understand that the amount in default maybe recovered by an offset against our shares in the society or by attachment of our property or salary, and that; we shall not be eligible for loans unless the amount in default has been cleared in full.
REPAYMENT GUARANTEE. We, the undersigned accept jointly and severally liabilities for the repayment of the loan in the event of the borrower’s default. We understand the amount in default may be recovered by an offset against our share as in the society or by attachment of our property or salary, and that shall not be eligible for loans unless the amount in default has been cleared in full. Guarantors PAYRONO. M/NO GUARANTOR’ NAME SHARES KSHS. GUARANT KSHS. SIGNATU I.D NO. MOBILE CONTACT ADDRESS & CODE 1.
REPAYMENT GUARANTEE. I/We the undersigned do accept liability for repayment of the loan as may be approved by CFE Limited. I/We understand that if the loan is granted, I/We shall be personally responsible for repayment of the principle amount together with any interest due. In case of default, the principle, interest and any collection expenses may be recovered summarily from me/us without any further reference to me/us.
1. Name Signed I/D No. 2. Name Signed I/D No. 3. Name Signed I/D No. Witness:
1. Name Signed I/D No. Date of Application :………………………………………
PART 1: PARTIES TO THE AGREEMENT