Instruction
1
To accept the surety should only be if you are really ready to take on the credit obligations of the borrower. If the contract of guarantee has been signed, and the realization that the obligations thereunder are not suitable for you came later, it is important to start the procedure of termination before the borrower stopped paying on the loan. In this case, the chances of termination increase many times over.
2
The easiest from the point of view of interaction with the Bank option is to find a new guarantor that satisfies the requirements of the Bank. However, this method is difficult to apply in practice since to find a replacement guarantor is problematic.
3
However, the contract of guaranty can be terminated and unilaterally, subject to certain conditions. So, know that the contract of suretyship shall be deemed terminated by default, as soon as the obligations under the main contract. In other words, the borrower has to prepay the loan, for example, taking a loan from another Bank.
4
Analyze the documents. The contract of suretyship is void, if the credit agreement without the guarantor's consent, changes were made adverse to the guarantor. If the increased rate on the loan, changed, down time, etc., what you, as guarantor, was not notified. Contact us with the request to annul obligation.
5
Try to renew the loan for another person. The fact that the Treaty of guarantee is considered void if the loan was transferred to another person without the consent of the surety to be bound in respect of a new borrower.
6
If the borrower stopped payment, and the guarantor from the Bank of requirements about execution of obligations is not received within the period of guaranteementioned in the contract (or in the course of the year, unless the agreement provided otherwise), the contract can be canceled.
7
If the Bank refused to accept the fulfillment of credit obligations by the borrower, the contract of guarantee may be cancelled (for example, if the Bank refused early repayment of the loan, then the borrower has stopped paying).