Notice to guarantor that principal has made default and requiring payment

Description

This precedent document is a template notice to guarantor that principal has made default and requiring payment. The notice advises a guarantor that a borrower or other debtor is in default, and that the beneficiary (eg a financier) seeks payment from the guarantor.

The precedent gives notice to a guarantor of:
· the default; and
· the payment required from the guarantor to the beneficiary.

Similar or related precedents available for purchase include:
· Agreement settling rights of co-guarantors inter se
· All moneys guarantee and indemnity - short form
· All moneys and performance guarantee and indemnity (non-specific) - long form
· All moneys and performance guarantee and indemnity - long form
· All moneys and performance guarantee and indemnity - short form
· Deed poll releasing guarantor from liability under guarantee
· Guarantee and indemnity - very short form
· Guarantee for payment of rent and observance of terms of tenancy agreement by a tenant
· General indemnity in respect of specific events

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