An Affidavit of Solvency is a sworn legal document that is used to verify the financial stability of a company. This document is typically requested by a court or other governing body when a company is facing financial difficulty, such as liquidation or bankruptcy. It is signed by the company’s directors or officers and attested by a solicitor or notary. It contains information regarding the company’s assets, liabilities, and net worth, as well as a statement of solvency. There are two main types of Affidavit of Solvency: a “general” affidavit, and a “special” affidavit. A general affidavit is used when a company is facing financial difficulty and needs to prove that it is solvent and has sufficient assets to cover its liabilities. A special affidavit is used when a company is about to enter into a transaction, such as a loan or merger, and needs to prove that it is financially stable and capable of meeting its obligations.
Affidavit Of Solvency
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