This form states that the guarantor unconditionally and absolutely guarantees to payee(s), jointly and severally, the full and prompt payment and performance of any and all account receivable charges by the customer incurred to the payee, including collections fees and reasonable attorneys' fees, up to a certain maximum amount.
West Virginia Accounts Receivable - Guaranty
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US-00401
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How to fill out Accounts Receivable - Guaranty?
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FAQ
The West Virginia Insurance Guaranty Association (?WVIGA?) is an unincorporated non-profit association created and governed by West Virginia Code Chapter 33 Article 26.
"A warranty is 'implied' where, from the circumstances sur- rounding the parties at the time of the sale or from the nature of the thing sold, the law assumes it to be just that the buyer should be protected, in addition to the contract of sale, by a further im- plied contract or guaranty on the part of the vendor, and ...
In no event shall the association be obligated to cover more than $5 million in benefits with respect to all of these unallocated contracts.
Breach of warranty is defined as the violation of an express or implied contract of warranty, and thus it is a breach of contract. Essentially, it occurs when the warrantor fails to provide the assurance warranted. A seller can expressly or implicitly assure the buyer about the quality or title of an item sold.
West Virginia law, specifically WV Code §46A-2-127, states that debt collectors should not deceive, mislead, or perform fraudulent activities when collecting and attempting to collect a debt. Examples of these bad business practices include: Refusal to give their true name and hide behind the company's name.
Insurance guaranty associations provide protection to insurance policyholders and beneficiaries of policies issued by an insurance company that has become insolvent and is no longer able to meet its obligations. All states, the District of Columbia, and Puerto Rico have insurance guaranty associations.
The West Virginia Life & Health Insurance Guaranty Association was created by the West Virginia legislature in 1977 to protect state residents who are policyholders and beneficiaries of policies issued by an insolvent insurance company, up to specified limits.
The health insurance protection for which the Guarantee Association may become liable shall be the contractual obligations for which the insurer is liable or would have been liable if it were not an insolvent insurer, up to a maximum benefit of $200,000.
An insurance guaranty association is a state-sanctioned organization that protects policyholders and claimants in the event of an insurance company's impairment or insolvency.
An implied warranty is a legal term for the assurances that a product is fit for the purpose that it is intended and that it is merchantable, i.e., conforms to an ordinary buyer's expectations.