Bank Guarantees are documents required by the Banks to be signed by non-borrowers to a loan, who have accepted responsibility for the due performance of the loan agreement by the borrowers.
The most common need for Bank Guarantees is when parent(s) are guaranteeing the due performance of loan obligations by their children. The children are otherwise unable to secure a loan without having to pay for Lenders Mortgage Insurance, or at an attractive interest rate.
The second most common need for Bank Guarantees are company Directors having to personally guarantee the due performance by their company borrower to the bank.
We are able to de-mystify the complex banking-legal jargon and explain, in clear, plain English, the nature and effect of the documents and the serious consequences of signing the Guarantee documentation.
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We charge a Fixed Price for Bank Guarantee review, advice and certification of $440.00 incl GST. In the event that the review and certification is required on an urgent basis (within 48 hours), our charges are $550.00 incl GST for the priority attention and turnaround needed.
Included in our scope of work for the bank guarantee review and certification are:
- Review of the Loan Agreement, Loan Application, Mortgage, Guarantee and Indemnity and other associated or supporting documentation;
- In-person conference in our convenient Chadstone location to provide the independent legal advice as required, in clear, plain English for your benefit;
- Attendance to due execution of Guarantee and Mortgage documentation (if required), together with 100-point Verification of Identity check;
- Certification of LIV-authorised Solicitor’s Certificate, as approved by all banking institutions in Australia.
Contact Us Now for Free to see how we can help reviewing, advising and providing independent certification (in accordance with bank requirements) as to Bank Guarantees.