There are two types of guarantees. The first is the one that can be included in the lease by additional clauses. In this case, the guarantor would sign the lease as well as the tenant. An act of G`tor must be attested, it may be Mr. F Bloggs, who is dragged off the street, but not one of the parties of the AST. Forfeiture of rental damages and losses caused by offences committed by a tenant to a rental agreement is of course a priority for landlords. Landlords should therefore always consider obtaining security, especially for student student tenants. As the increase in layoffs leads to an increase in tenants who cannot afford to pay their rent, while rental guarantee insurance is available to landlords for a premium, obtaining a guarantee is a useful tool for them. Witness: Technically, a “witness” must confirm that a contract or transaction has taken place; in the case of a loan agreement, a “witness” should not be expected to pay the loan amount if the borrower is unable to repay the loan. However, in Hong Kong, money lenders in Bahasa often illegally use Indonesia as a “witness” to speak either as a guarantor or as a “reference”.
Be careful when signing a loan using this term. Before signing, clearly what exactly the commitments are – in particular, if you are responsible for paying the loan if the borrower cannot. Be careful if you agree to be a “witness” on the phone. If you have not signed another person`s loan as a guarantor, you are not legally required to repay it as a “reference” or “witness.” The witness does not have to be “independent.” The precondition is that the witness is not involved in the instrument itself. The guarantee company was attested by one of the tenants, but they were party to the tenancy agreement and NO the warranty contract made as an act. Therefore, the guarantee agreement was valid. As we had never agreed with the guarantors on a payment plan, a letter of pre-action was issued, and then a $715.40 rent procedure was initiated in October and November. (Honestly, we really thought that these procedures would let the guarantors know how serious we were and then he would pay, but it didn`t quite work that way!) I found this very interesting, I had a hard time with an owner who lied to me right now, I was asked to be a guarantor for my son, the agent asked me to go into his office to sign the form, there was no mention of the form of the lease, he assured me that it would be maximum of 6 or 12 months , I told him that my only source of income was income support and he assured me that there was no would have no problems, there was no sign of the lease since he told me he was not ready but still sign the warranty contract, now my son is in default on his rent and the first thing I know is when he is back about 6 months and they come after me for almost 3000 dollars! I`m not trying to get out of my responsibilities, I`m willing to try to find the money I think I owe up to 12 months, but the landlord says it`s a 24-month lease for which I`m responsible, my son didn`t even check when he signed because he thought it was 12 months max, (stupid, I know) when I asked the agency about it , they told me that all their tenants were 24 months old. now, when I told the rental agency that I was looking for legal advice on the validity of the form of bond at once, they say that if I pay all the arrears, they will release me from the rest of the agreement (13 months, until it becomes 24 months), something tells me that they know they lied to me and are trying to get out. I was told that it was not a guarantee that I had signed.