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Guarantee and Postponement of Claim
This form provides for a guarantor for the repayment of a debt. This guarantor is, in effect, a co-signer for the obligation. The guarantor agrees that if any of the payments are late or not paid, they will make the payments. The guarantor also agrees that the guarantee may be enforced without having to first exhaust all other remedies against the borrower. A mere default by the borrower without any court action will suffice to require the guarantor to make good on the obligation. In addition, this particular guarantee also includes a postponement of any claim the guarantor my have against the borrower until such time as the debt owed to the creditor is paid off.
See form: Guarantee and Postponement of Claim
Note: Some forms not suitable for use in the province of Quebec. Check form details.
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