This form is a Guaranty. The form provides that the guarantor assures the full and prompt payment of all obligations incurred by the payor.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés.
For your convenience, the complete English version of this form is attached below the Spanish version.
Once you've signed, it’s not easy to back out. You’ll usually need written consent from the lender to release you from the guaranty. So, think long and hard before you sign on the dotted line!
In some cases, yes! You can negotiate the terms of your guaranty, like putting a cap on the amount you're responsible for. It's always good to read the fine print and discuss your options.
You usually need a personal guaranty when you're dealing with loans or leases, especially if you're a small business owner or don’t have a long credit history. Lenders want to know there's someone reliable in your corner.
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