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Limited Suretyship – Time & Amount

Limited Suretyship – Time & Amount

stars Over 10,000 Happy South African Businesses

R 542,39

A limited suretyship that restricts the guarantor’s liability to a fixed amount and terminates on an agreed date.

  • Reduces guarantor’s liability.
  • Limits guarantee to specific debt.
  • Provides termination date certainty.
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How do I receive my documents once I have paid for them?

Once your order is complete, you will be granted download permission for the document. You will:

  • See download links on the order received page after you have checked out.
  • Receive an email notification which will include download links.
  • Have access to your downloads via the Downloads tab on your ‘My Account’ page when logged in to your account on this website.
What format do you provide the document in?

You’ll receive the document in Microsoft Word. A small number of our documents are only available in PDF, in which case this is stated in the document summary.

What if I don't receive the link?

The two most common reasons for people not receiving the link are : (i) The e-mail address entered into the order form was incorrect; or (ii) the e-mail was directed into your spam folder. First please check your spam folder. If it is not there, contact us.

How can I tell if the document is suitable for my requirements?

Each document is accompanied by a description. Read the description to see if it will meet your requirements. If you are still uncertain, you can Contact Us with a brief overview of what you need the document for and we will respond as soon as possible.

Can I make changes to the contracts and legal documents?

Our documents are provided in MS Word format, allowing you to adjust and alter the agreement as you require. If you do not have legal experience we do caution you to be circumspect about the extent of the changes that you make.

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LIMITED SURETYSHIP

Time and Amount

Summary A Limited Guarantee may be used where a debt is owed or may in the future be owed someone, and additional security is required in the form of another person accepting personal liability for the debt. This document limits the surety’s liability to the amount agreed in the suretyship, with the suretyship obligation ending on an agreed termination date.

We also have other Limited Guarantees available, limiting the payment obligation in terms of: amount & cause of debt; amount only; time (expiry date); or cause of debt.

Why do I need a Suretyship? A Guarantee provides a supplier or creditor with additional security. If the customer or debtor defaults, the creditor may use the suretyship to demand payment from the surety. If your business has customers or debtors that are likely to owe money, for example the provision of goods and services on credit, then a Suretyship may be used to reduce the risk of non-payment. Particularly if your customers or debtors are legal entities such as companies or trusts, where the directors, shareholders or trustees can be asked to sign personally guarantee the entity’s debt. But it can also be used by someone standing surety for their spouse, parent, child, friend or partner.

What does the Suretyship look like? This template suretyship can be printed onto three pages.

What do you need to do to use a Guarantee?

  • Read the sample suretyship document to ensure that it suits your requirements. Make changes as required.
  • Complete the relevant details, add more sureties if needed, and get the surety or sureties to sign.

This is a limited payment guarantee. We also have an Unlimited Suretyship if you need the guarantors to sign an unlimited payment undertaking.

A specialist’s advice should be sought, specifically if the underlying debt is subject to the National Credit Act 34 of 2005.

Also viewed: Letters of Demand

The Online Agreements Shop cc and its members, staff, legal advisers, partners and consultants, agents and any person associated therewith cannot be held liable for any loss or damage that is incurred or may be incurred by any person as a direct or indirect result of the use of this website or any document or information contained on or obtained from this website, nor as a result of anything that is contained in or left out of any document.

How do I receive my documents once I have paid for them?

Once your order is complete, you will be granted download permission for the document. You will:

  • See download links on the order received page after you have checked out.
  • Receive an email notification which will include download links.
  • Have access to your downloads via the Downloads tab on your ‘My Account’ page when logged in to your account on this website.
What format do you provide the document in?

You’ll receive the document in Microsoft Word. A small number of our documents are only available in PDF, in which case this is stated in the document summary.

What if I don't receive the link?

The two most common reasons for people not receiving the link are : (i) The e-mail address entered into the order form was incorrect; or (ii) the e-mail was directed into your spam folder. First please check your spam folder. If it is not there, contact us.

How can I tell if the document is suitable for my requirements?

Each document is accompanied by a description. Read the description to see if it will meet your requirements. If you are still uncertain, you can Contact Us with a brief overview of what you need the document for and we will respond as soon as possible.

Can I make changes to the contracts and legal documents?

Our documents are provided in MS Word format, allowing you to adjust and alter the agreement as you require. If you do not have legal experience we do caution you to be circumspect about the extent of the changes that you make.

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LIMITED SURETYSHIP

Time and Amount

Summary A Limited Guarantee may be used where a debt is owed or may in the future be owed someone, and additional security is required in the form of another person accepting personal liability for the debt. This document limits the surety’s liability to the amount agreed in the suretyship, with the suretyship obligation ending on an agreed termination date.

We also have other Limited Guarantees available, limiting the payment obligation in terms of: amount & cause of debt; amount only; time (expiry date); or cause of debt.

Why do I need a Suretyship? A Guarantee provides a supplier or creditor with additional security. If the customer or debtor defaults, the creditor may use the suretyship to demand payment from the surety. If your business has customers or debtors that are likely to owe money, for example the provision of goods and services on credit, then a Suretyship may be used to reduce the risk of non-payment. Particularly if your customers or debtors are legal entities such as companies or trusts, where the directors, shareholders or trustees can be asked to sign personally guarantee the entity’s debt. But it can also be used by someone standing surety for their spouse, parent, child, friend or partner.

What does the Suretyship look like? This template suretyship can be printed onto three pages.

What do you need to do to use a Guarantee?

  • Read the sample suretyship document to ensure that it suits your requirements. Make changes as required.
  • Complete the relevant details, add more sureties if needed, and get the surety or sureties to sign.

This is a limited payment guarantee. We also have an Unlimited Suretyship if you need the guarantors to sign an unlimited payment undertaking.

A specialist’s advice should be sought, specifically if the underlying debt is subject to the National Credit Act 34 of 2005.

Also viewed: Letters of Demand

The Online Agreements Shop cc and its members, staff, legal advisers, partners and consultants, agents and any person associated therewith cannot be held liable for any loss or damage that is incurred or may be incurred by any person as a direct or indirect result of the use of this website or any document or information contained on or obtained from this website, nor as a result of anything that is contained in or left out of any document.