Demand Letter to Guarantor

Demand Letter to Guarantors - the creditors demand the immediate payment together with further interests at the aforesaid rates.

Borrowers have, in breach of their repayment obligations, failed to make repayment of the indebtedness owing to the Bank when they fell due.

Unless payment in full in clear funds is received by the Bank prior to the said date the creditors will institute legal proceedings against the guarantors without further notice. In such circumstances, the guarantors will also be liable for all the legal costs, charges and expenses that the Bank is and will be incurring for the enforcement of its rights under the Guarantee.