Personal surety is a blank cheque
|
|
SES suppliers refuse to deliver, because you have not paid, staff on strike threatening to move unless you have to pay, and that the owner has been terrible for you, for some time, and it is now risk, the barriers of your premises, unless they pay. The only solution to this situation is the guarantee of a loan. He is ready to a creditor, money for you and all your problems are, or are you an opinion. If creditors or bankers, you will receive all the forms to sign, once you do not want to bother to read them. Even if you do, you will not be able to dictate law. However, it is a 99% chance that through the work that you are a personal guarantee. Most businesses are organized so that shareholders and society members have close-a form of protection of assets referred to the limited personal liability. Your personal assets are, in general, the protection of creditors of the economy as a matter of justice. Creditors may not be the owner of the personal fortune to pay business debts, unless an entrepreneur, especially with limited liability. With the signing of a personal surety They simply abandoned, that the legal protection and a promise to hand over all of your personal assets if the company does not pay the debts. Thus, many entrepreneurs sniff from you, if you ask, to give you a blank cheque, but most of them have blank cheques, without begin to flash. I do not see people who are not competent to sign the guarantees, but a personal guarantee has exactly the same effect as a blank cheque. Most documents bail you gave require that the benefits of relaxation and sharing, which means: L They give the creditor or landlord, the right to quote to attack personally before the company; L You give the creditor the right not to warn you of the next action, in other words, the first time you know, there is a problem is that if a magistrate, in front of the door, and L You give the creditor the right to bring to the total, although you can a 20% share of the company. Worse, the guarantees are unlimited, and do not apply to the debts in the course, but also for all debts in the future. I am yet to see which was amended by creditors, including banks, to collect his paper guarantee as soon as the debt is settled. We understand the situation, that the banks because they have a duty to ensure that all borrowings. The question all entrepreneurs should ask themselves the question of whether a loan R50000 worthwhile until your present and future life of the assets. |