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Affidavit Of Guarantee
"I need an Affidavit of Guarantee for our Nigerian subsidiary company to guarantee a NGN 50 million bank loan for our parent company, to be effective from March 1, 2025, with the guarantee limited to 24 months."
1. Title and Court Details: Specifies the court jurisdiction and type of affidavit
2. Deponent Information: Full name, occupation, age, religion, and address of the person making the affidavit (guarantor)
3. Declaratory Statement: Formal opening statement declaring under oath the truth of the contents
4. Principal Debtor Details: Information about the person/entity whose obligations are being guaranteed
5. Creditor Details: Information about the beneficiary of the guarantee
6. Nature of Primary Obligation: Details of the main debt or obligation being guaranteed
7. Guarantee Declaration: Clear statement of the guarantee commitment and its scope
8. Terms and Conditions: Specific conditions and limitations of the guarantee
9. Financial Capacity Statement: Declaration of the guarantor's financial ability to meet the guarantee obligations
10. Duration and Enforcement: Period of guarantee and circumstances under which it can be enforced
11. Attestation: Formal closing, signature, and commissioner for oaths' attestation
1. Co-Guarantor Details: Required when multiple parties are providing the guarantee
2. Secured Assets: When specific assets are being pledged as additional security
3. Spousal Consent: Required when the guarantor is married and the guarantee involves matrimonial property
4. Corporate Authority: Required when the guarantor is a corporate entity, including board resolution details
5. Guarantee Limit: When the guarantee is capped at a specific amount
6. Release Conditions: Specific conditions under which the guarantor may be released from obligations
7. Illiterate Jurat: Required when the guarantor is illiterate, including literate witness certification
1. Schedule A - Primary Debt Details: Detailed breakdown of the primary debt or obligation being guaranteed
2. Schedule B - Asset Schedule: List and description of any assets specifically pledged as security
3. Schedule C - Payment Terms: Detailed payment schedule or terms related to the guarantee
4. Appendix 1 - Identity Documents: Copies of relevant identity documents of the guarantor
5. Appendix 2 - Corporate Documents: Required corporate documents when guarantor is a company
6. Appendix 3 - Asset Documents: Title documents or proof of ownership for secured assets
Authors
Guarantor
Principal Debtor
Creditor
Guaranteed Obligations
Primary Obligation
Default
Enforcement Date
Guarantee Period
Security
Commissioner for Oaths
Deponent
Liability
Payment Demand
Secured Assets
Guarantee Amount
Release Event
Business Day
Event of Default
Governing Law
Jurisdiction
Notice
Related Rights
Outstanding Amount
Material Adverse Change
Underlying Agreement
Enforcement Notice
Guarantee Limit
Recovery Costs
Default Interest
Identity and Capacity
Principal Obligation
Guarantee Commitment
Scope of Guarantee
Duration
Payment Terms
Default Events
Enforcement
Financial Capacity
Security
Representations and Warranties
Notice Requirements
Indemnification
Assignment
Severability
Force Majeure
Governing Law
Jurisdiction
Attestation
Execution
Oath and Verification
Release and Discharge
Remedies
Costs and Expenses
Banking and Financial Services
Real Estate
Construction
Manufacturing
Retail
Agriculture
Oil and Gas
Telecommunications
Healthcare
Education
Transportation and Logistics
Import/Export
Small and Medium Enterprises
Legal
Risk Management
Credit
Compliance
Finance
Corporate Secretariat
Business Development
Operations
Recovery and Collections
Document Management
Legal Counsel
Risk Manager
Credit Officer
Loan Officer
Company Secretary
Compliance Officer
Financial Controller
Business Development Manager
Contract Manager
Corporate Lawyer
Banking Officer
Credit Analyst
Chief Financial Officer
Legal Administrator
Recovery Officer
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