Post by account_disabled on Feb 22, 2024 5:47:24 GMT -4
Given the constantly changing economic scenario, access to credit is a fundamental tool for carrying out personal and business projects. Banks and financial institutions play a crucial role in providing loans. However, they seek additional guarantees to mitigate their risks.
At this point, the figure of the guarantor comes into play, a third party who is responsible for fulfilling the obligations of the main debtor in the event of payment default.
Regarding the guarantor, in a loan, he plays the role of guaranteeing the financial obligation of the main debtor, if he does not comply with the agreement.
Exoneration of the guarantor
Taking this risk is not an easy decision to make, as the Bulgaria WhatsApp Number guarantor's responsibility is joint and several. This means that it can be activated directly by the creditor in the event of default by the main debtor.
However, article 835 of the Civil Code (CC) establishes that the guarantor, in contracts without a fixed term, has the right to be exempt from the obligation, if he so wishes. This means that, when the guarantor does not wish to be responsible for the main debtor's obligations, he has the right to exonerate himself. But, there is a procedure to be followed.
What to do As mentioned above, it is observed that article 835 of the CC establishes the exemption of the guarantor only in contracts that he has signed without time limitations.
However, this exemption is not automatic. The guarantor must follow a procedure to withdraw from the contractual relationship. You must notify the creditor of your intention to foreclose.
And, after notification, the guarantor will remain responsible for the guarantee within 60 days, counting after that.
This legal provision is reinforced by Summary 656 of the Superior Court of Justice (STJ), which is transcribed below: The automatic guarantee extension clause is valid when renewing the main contract. The guarantor's dismissal depends on the notification provided for in article 835 of the Civil Code.
Problem with interest rates x high inflation
In this area, interest on equity would emerge as a “ creative expedient to avoid thin capitalization”. After all, “ interest on equity is intended to allow the partner or shareholder to receive an income equivalent to what they would receive if they sought another long-term financial investment” ; however, they do so in a way that allows these amounts to be deductible when calculating taxable profit and, at the same time, the maintenance of equity capital in society is encouraged.
At this point, the figure of the guarantor comes into play, a third party who is responsible for fulfilling the obligations of the main debtor in the event of payment default.
Regarding the guarantor, in a loan, he plays the role of guaranteeing the financial obligation of the main debtor, if he does not comply with the agreement.
Exoneration of the guarantor
Taking this risk is not an easy decision to make, as the Bulgaria WhatsApp Number guarantor's responsibility is joint and several. This means that it can be activated directly by the creditor in the event of default by the main debtor.
However, article 835 of the Civil Code (CC) establishes that the guarantor, in contracts without a fixed term, has the right to be exempt from the obligation, if he so wishes. This means that, when the guarantor does not wish to be responsible for the main debtor's obligations, he has the right to exonerate himself. But, there is a procedure to be followed.
What to do As mentioned above, it is observed that article 835 of the CC establishes the exemption of the guarantor only in contracts that he has signed without time limitations.
However, this exemption is not automatic. The guarantor must follow a procedure to withdraw from the contractual relationship. You must notify the creditor of your intention to foreclose.
And, after notification, the guarantor will remain responsible for the guarantee within 60 days, counting after that.
This legal provision is reinforced by Summary 656 of the Superior Court of Justice (STJ), which is transcribed below: The automatic guarantee extension clause is valid when renewing the main contract. The guarantor's dismissal depends on the notification provided for in article 835 of the Civil Code.
Problem with interest rates x high inflation
In this area, interest on equity would emerge as a “ creative expedient to avoid thin capitalization”. After all, “ interest on equity is intended to allow the partner or shareholder to receive an income equivalent to what they would receive if they sought another long-term financial investment” ; however, they do so in a way that allows these amounts to be deductible when calculating taxable profit and, at the same time, the maintenance of equity capital in society is encouraged.