CONTRACT IN FOCUS: DEED OF GUARANTEE AND INDEMNITY

A Deed of Guarantee and Indemnity is a document produced by credit providers to secure a sum of money, but can also be used in business to secure lines of credit by suppliers or services providers. The most common form of guarantee and indemnity contracts are used by banks and credit unions when you go for a loan or business facility.  All banks and credit providers have their own version of this document, and the rights within these documents can vary. For example, if you are taking out a loan with one of the Big 4 banks, the Deed can be quite long. If you borrow with a smaller bank or credit union, the document may be shorter. However, Deeds of Guarantees and Indemnities often contain these specific clauses:

  1. The bank or credit union can call upon the Guarantee at any time;
  2. The Guarantor is liable for the full amount of the liability (not just the borrowed sum, but also interest and other costs associated with the borrowed sum including GST and other taxes)
  3. The Guarantee survives even if the borrower goes out of business or dies;
  4. The bank or credit union can do whatever it likes with the guaranteed sum (subject to relevant laws) including applying it for a “legitimate commercial interest” of that bank or credit union.
  5. The bank can hold on to the guarantee for a certain period of time after the guarantee has been paid in full.

For more information on Deeds of Guarantee and Indemnities, or if you need to get your Guarantee document reviewed, please call us on 1300 272 878 or email us at enquire@interpretcontracts.com.au. You can also upload your Deed of Guarantee and Indemnity for review through our client portal.

 

Interpret Contracts services clients in Adelaide, Brisbane, Canberra, Darwin, Melbourne, Perth, Sydney, Hobart and regional Australia.

15 Messages

  • DaciaBig Reply

    Hello. I have checked your interpretcontracts.com.au and i see you've got some duplicate content so probably it is the reason that you don't rank hi in google. But you can fix this issue fast. There is a tool that generates content like human, just search in google: miftolo's tools

  • evyenia@interpretcontracts.com.au Reply

    Thanks so much for your comments! I'm glad you are finding this blog post useful. Stay tuned for more information on different contracts!

  • gamefly free trial Reply

    I've been surfing on-line greater than 3 hours these days, but I by no means discovered any attention-grabbing article like yours. It is pretty worth sufficient for me. In my view, if all website owners and bloggers made good content as you did, the internet shall be much more helpful than ever before.

  • how to get help in windows 10 Reply

    I'm really enjoying the design and layout of your blog. It's a very easy on the eyes which makes it much more pleasant for me to come here and visit more often. Did you hire out a designer to create your theme? Exceptional work!

  • how to get help in windows 10 Reply

    I have been exploring for a little for any high quality articles or weblog posts in this sort of space . Exploring in Yahoo I eventually stumbled upon this web site. Studying this information So i'm satisfied to express that I have a very excellent uncanny feeling I discovered exactly what I needed. I most without a doubt will make certain to do not forget this web site and give it a look regularly.

  • how to get help in windows 10 Reply

    Thank you a bunch for sharing this with all people you actually realize what you are speaking approximately! Bookmarked. Kindly also consult with my web site =). We can have a link trade contract between us

  • gamefly free trial Reply

    I blog often and I seriously appreciate your information. This article has truly peaked my interest. I am going to bookmark your blog and keep checking for new details about once a week. I opted in for your Feed too.

  • gamefly free trial Reply

    Hello! Do you use Twitter? I'd like to follow you if that would be ok. I'm definitely enjoying your blog and look forward to new updates.

  • how to get help in windows 10 Reply

    Just wish to say your article is as astounding. The clarity in your post is just nice and i could assume you're an expert on this subject. Fine with your permission allow me to grab your RSS feed to keep up to date with forthcoming post. Thanks a million and please continue the rewarding work.

  • gamefly free trial Reply

    I love what you guys are up too. This type of clever work and coverage! Keep up the great works guys I've included you guys to blogroll.

Messages have been disabled for this contract.