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Checklist To Determine if Personal Guarantee is Valuable

Review each personal guarantee received against this checklist for personal guarantee to determine if a personal guarantee is enforceable and of value.

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About this course

description
lessonOverview

To determine if a personal guarantee is enforceable and of value, you should review each personal guarantee received against the following checklist.

 

  • Is the entire personal guarantee completed?
  • Has the guarantee paperwork been signed?
  • Has the signature been notarized, or at the very least, witnessed?
  • Is there adequate credit information on the guarantor?
  • Does the guarantee include any restrictions on when, how, and if it can be enforced?
  • If you're dealing with an inter-corporate guarantee, rather than a personal guarantee, does the person signing the guarantee have the authority to bind the corporation to the terms of the guarantee?
instructor
name title image description Ins
Editor Highako Academy Highako.com is a video-first micro-learning platform trusted by over 10,000+ Credit and Collections professionals. Leverage Highako to drive skill growth with role-specific expert video lessons, and hands-on assessments. Connect and collaborate with the largest credit community and get access to ready-to-use templates.  
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About this course

description
lessonOverview

To determine if a personal guarantee is enforceable and of value, you should review each personal guarantee received against the following checklist.

 

  • Is the entire personal guarantee completed?
  • Has the guarantee paperwork been signed?
  • Has the signature been notarized, or at the very least, witnessed?
  • Is there adequate credit information on the guarantor?
  • Does the guarantee include any restrictions on when, how, and if it can be enforced?
  • If you're dealing with an inter-corporate guarantee, rather than a personal guarantee, does the person signing the guarantee have the authority to bind the corporation to the terms of the guarantee?
instructor
name title image description Ins
Editor Highako Academy Highako.com is a video-first micro-learning platform trusted by over 10,000+ Credit and Collections professionals. Leverage Highako to drive skill growth with role-specific expert video lessons, and hands-on assessments. Connect and collaborate with the largest credit community and get access to ready-to-use templates.  
related
image tag title description link contentType
KPIs and Reporting A Complete Resource on Recovering Your Collateral :Replevin vs. Civil Suit Know the information on recovering your collateral under replevin vs civil suit case.This resource provides you the tactics in releasing your collateral https://academy.highako.com/a-complete-resource-on-recovering-your-collateral-replevin-vs-civil-suit  
Deductions Resolution Alternatives to Bank Financing: Factoring, LOC, Guarantees and Bonds Learn how to leverage bond or guarantee to establish financial security and get monetary compensation. https://academy.highako.com/decoding-factoring-loc-guarantees-and-bonds