Common use of REPAYMENT GUARANTEE Clause in Contracts

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