Guarantor Contract
Guarantor Contract
CONTRACT OF GUARANTEE
BETWEEN
Tembo Automarket, P.O. Box 37738, Plot 14/16 Semawatta Road, Ntinda,
Kampala (hereinafter referred to as “The Company”)
AND
……………………………………………………………………………………Of P.O.
Box………………………………………………hereinafter referred to as the
“Guarantor” over the sale of a motor
vehicle,……………………………………………………………………………For
UGX…………………………………………………………(……………………………………
…………………………………………………………..).
AND
………………………………………………………………………………of P.O.
Box …………………………………………………………………………………hereinafter
referred to as the “Purchaser”
2. The Guarantor agrees to pay any and all costs of fees of collection
incurred by The Company including, without limitation, reasonable
attorneys’ fees for consultation, preparing demand letters or bringing any
action for collection, enforcement of such obligations which are
guaranteed hereunder, and any interest or finance charges before or
after the judgment being rendered
5. This Guarantee is binding upon the Guarantor and successors and assigns
and shall ensure to the benefit of The Company and its successors in title
and assigns.
7. In the event that the Purchaser fails to perform, satisfy or observe the
terms and conditions of the extension of credit, required to be performed,
satisfied or observed by Purchaser, the Guarantor will promptly and fully
perform, satisfy and observe such obligations in the place of Purchaser.
8. The Guarantor shall pay, reimburse, and indemnify The Company for any
and all reasonable attorneys’ fees, court costs, and finance or interest
charges arising or resulting from the failure of Purchaser to perform, satisfy,
or observe any of the terms and conditions of these agreements.
Signed:
Purchaser’s ……………………………………………………………………..
Guarantor’s ………….……………………………………………………………
Signature…………………………………………Date …………………………….