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    Suretyship Agreement: Nbs Enterprises Jasmine C. Sierras

    Uploaded by

    Mark Lojero
    This surety agreement is between NBS Enterprises as the principal, Jasmine C. Sierras as the surety, and McKenzie Distribution Co. as the creditor. Sierras guarantees prompt payment of all obligations owed by NBS to McKenzie, up to an unspecified amount, and allows McKenzie to recover unpaid obligations from Sierras' Isuzu Elf vehicle. The agreement is intended to fully indemnify McKenzie for any debts owed by NBS and can be revoked by Sierras with 48 hours written notice.

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    © All Rights Reserved
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    Suretyship Agreement: Nbs Enterprises Jasmine C. Sierras

    Uploaded by

    Mark Lojero
    59 views2 pages
    This surety agreement is between NBS Enterprises as the principal, Jasmine C. Sierras as the surety, and McKenzie Distribution Co. as the creditor. Sierras guarantees prompt payment of all obligations owed by NBS to McKenzie, up to an unspecified amount, and allows McKenzie to recover unpaid obligations from Sierras' Isuzu Elf vehicle. The agreement is intended to fully indemnify McKenzie for any debts owed by NBS and can be revoked by Sierras with 48 hours written notice.

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    surety

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    Nuke.suretyAgrmt

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    This surety agreement is between NBS Enterprises as the principal, Jasmine C. Sierras as the surety, and McKenzie Distribution Co. as the creditor. Sierras guarantees prompt payment of all obligations owed by NBS to McKenzie, up to an unspecified amount, and allows McKenzie to recover unpaid obligations from Sierras' Isuzu Elf vehicle. The agreement is intended to fully indemnify McKenzie for any debts owed by NBS and can be revoked by Sierras with 48 hours written notice.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    59 views2 pages

    Suretyship Agreement: Nbs Enterprises Jasmine C. Sierras

    Uploaded by

    Mark Lojero
    This surety agreement is between NBS Enterprises as the principal, Jasmine C. Sierras as the surety, and McKenzie Distribution Co. as the creditor. Sierras guarantees prompt payment of all obligations owed by NBS to McKenzie, up to an unspecified amount, and allows McKenzie to recover unpaid obligations from Sierras' Isuzu Elf vehicle. The agreement is intended to fully indemnify McKenzie for any debts owed by NBS and can be revoked by Sierras with 48 hours written notice.

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    © All Rights Reserved
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    You are on page 1of 2

    SURETYSHIP AGREEMENT

    NBS ENTERPRISES
    Principal

    JASMINE C. SIERRAS
    Surety
    And

    McKENZIE DISTRIBUTION Co.


    Creditor

    This SURETY AGREEMENT, executed by JASMINE C. SIERRAS,


    herein referred to as the Surety, and McKENZIE DISTRIBUTION Co.,
    Inc., represented by Dennis Guilas, herein referred to as the
    Creditor, bears witness: THAT—

    WHEREAS, NBS ENTERPRISES, represented by Federico


    Anido, Jr., herein referred to as the Principal, desires to obtain a credit
    line as sub-distributor by virtue of their Sub-Distributorship
    Agreement;

    WHEREAS, in said Sub-Distributorship Agreement, in Section


    6.5 (Security) thereof, to secure the prompt observance and
    performance of the provisions, terms and conditions set forth in this
    agreement, the sub-distributor shall execute and deliver to the
    company a surety bond and/or a bank guarantee, or such other form of
    security;

    NOW, THEREFORE, for the purpose above mentioned, the


    Surety jointly and severally with the Principal, hereby guarantees and
    warrants to the Creditor, its successors or assigns, the prompt
    payment at maturity of all the notes, drafts, bills of exchange,
    overdrafts and other obligations of every kind, on which the Principal
    may now be indebted or may hereafter become indebted to the
    Creditor, but the liability of the Surety shall not at any time exceed the
    sum of ______________;

    In case of default by the Principal in the payment at maturity of


    any of the obligations above mentioned or in case of the Principal’s
    failure promptly to respond to any other lawful demand made by the
    Creditor, the Surety agrees to pay to the Creditor, its successors or
    assigns, upon demand, all outstanding obligations of the Principal,
    whether due or not due, and whether held by the Creditor as principal
    or agent.

    As security for the payment of the obligations above mentioned,


    the Creditor shall resort to and recover from the Surety so much of the
    said amount as can be obtained or recovered from her chattel, an
    Isuzu Elf described under Certificate of Registration No.
    18719976, with Motor No. 4BE1-960510, Chassis No. NPR58L-
    7112318, Plate No. GRC-205.

    This instrument is intended to be a complete and perfect


    indemnity to the Creditor to the extent above stated, for any
    indebtedness or liability of any kind owing by the Principal to the
    Creditor from time to time, and to be valid and continuous without
    further notice to the Surety, and may be revoked by the Surety at any
    time, but only after forty-eight hours notice in writing to the Creditor,
    and such revocation shall not operate to relieve the Surety from
    responsibility for obligations incurred by the Principal prior to the
    termination of such period.

    JASMINE C. SIERRAS
    Surety

    SIGNED IN THE PRESENCE OF:

    ______________ ______________

    Republic of the Philippines )


    Province of Leyte ) SS
    City of Tacloban )

    ACKNOWLEDGMENT

    BEFORE ME personally appeared this 29 April 2003 at Tacloban


    City, JASMINE C. SIERRAS, exhibiting to me her CTC No. ________
    issued on _________ at Tacloban City, known to me as the same person
    who executed the foregoing instrument and acknowledged that the
    same is her free act and deed.

    WITNESS MY HAND AND NOTARIAL SEAL.

    Doc. No. ____


    Page No. ____
    Book No. XXXIV
    SERIES OF 2003

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