Termination of the contract of guarantee: is it possible

Artem Kovalenko
25.11.2015

Termination of the contract of guarantee: is it possible?

Today, the contract of guarantee is an indispensable procedure for granting a loan in most banks. Usually, close relatives or good friends of the borrower agree to act as guarantors. Despite the fact that the guarantee is a voluntary matter, many eventually regret their decision.Cancellation of the contract of guarantee- is it possible to?

Surety agreement: what's the catch?

When signing a contract of guarantee, it is necessary to understand that not only creditors bear a serious responsibility to the bank, but also their surety.

And in the event of such a situation, when the borrower stops making payments on the loan and there is no possibility to recover the debt from him, the bank addresses the guarantor with the solution of this problem.

Surety Agreement

Under the contract, banking institutions have the right to collect the debt from the guarantor, as well as to sue him (if there is nothing to recover from the creditor or in the event of his death).

Is it possible to terminate the contract unilaterally?

Having understood the responsibility that falls on their shoulders, many try to terminate the contract of guarantee. But, here everyone is waiting for an unpleasant surprise: it is impossible to unilaterally terminate it. It is also worth noting that under the contract almost the same obligations are imposed on the guarantor as on the borrower, but he has almost no rights.

New candidate

It is unlikely that someone at the time when he signs the contract of guarantee, thinks about what problems he may have. After all, the borrower promises that no worries will touch him. But in fact, very often this is not the case. When a problem arises with someone else's debt, many guarantors try to get rid of this heavy burden.Cancellation of the contract of guarantee- one of the ways to dump this problem from your shoulders.

If the guarantor made the wrong decision

If the guarantor realized that he was overwhelmed with his decision, then it is possible to terminate the contract while the borrower pays the loan without delay.

According to the civil code of the Russian Federation, it was determined that the easiest way to get rid of the guarantee is to offer a new candidate instead of the bank.

Reassignment

Of course, the proposed candidate must meet all the requirements of the bank: a stable income, a good credit history.

Is it possible to refuse

Cancellation of the contract of guaranteeit is also possible when the loan debt is transferred to a new borrower. If the guarantee period is not specified in the contract, then after 12 months all obligations from the guarantor are removed.

Each bank usually develops an individual template for a contract of guarantee. Therefore, we advise you to carefully study it, and you will surely find some kind of clue in order to terminate the contract if necessary.


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  • Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible

    Termination of the contract of guarantee: is it possible