When providing guarantee, the guarantor should acknowledge all the consequences of the guarantee provision, including full repayment of the obligation and applicable penalties, negative impact on the guarantor’s credit history and even repossession of the guarantor’s property, in case the borrower does not perform their obligations.
The Bank is obliged to:
- Provide examples of credit, guarantee agreements and repayment schedule
- Communicate with you by your preferred channel
- Notify you about the changes to the terms of the agreement 7 days prior to those changes are made
- Remind you about the loan obligation one day prior to its due date
- Notify you about delayed loan repayments at latest 1 day after the delay.
You have the right to:
- Request information from the Bank on the loan residual amount at any time
- Claim from the borrower the loan amount paid by you, as well as other losses borne by you instead of the borrower.
Last updated on: 08.07.21, 06:42