Demand Letter to Guarantor

Creditor

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Description:

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.

Document Type:

Letter / e-mail / note / correspondence

Category:

Business > Banking and Finance > Letter of Comfort / Guarantee and Indemnity

 
Keywords:

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obligations

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Author:

DocPro Legal

DocPro Legal is a team of legal professionals with a passion for making quality documents and legal contract templates widely available to the public through cutting edge technology. Our lawyers are qualified in numerous common law jurisdictions including the United Kingdom, Australia, New Zealand, India, Singapore and Hong Kong. We have experience in major law firms and international banks with expertise in business, commercial, finance, banking, litigation, family, succession and company laws.