Post a surety bond - Here's how

04-03  Source: Network gathering  Views:4 

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Post a surety bond - Here's how

Be a surety bond!

To submit a surety bond

  • normalized law requires the guarantee and the requirements that the law of the undertaking shall, in §§ 765 ff. BGB (German Civil Code). Take a look at the law and check the conditions of.
  • A surety bond must be issued schrifltich. It is used to secure a claim. A third person undertakes for the fulfillment of an obligation to enter. The electronic form is the guarantee shall not fair and is not sufficient.
  • Keep in the guarantee precisely manage who in what amount for which liability and when entering exactly. For this purpose, you should call and write down how long the debtor of his payment period does not have to be complied with so that performance against the guarantor is payable the principal obligation.
  • Name the person of the surety, the creditor and the debtor name, with address and date of birth.
  • You should know that there is a deficiency guarantee and a letter of guarantee. In the guarantee provided by the guarantor to take effect upon the debtor of his obligation to pay does not produce enough and the execution against the debtor has failed. This is the case for example with a rental guarantee. Here, the landlord must keep only to the tenant and may have recourse only after the failed execution of the guarantor. The letter of guarantee differs therefrom, as in this example, the landlord may proceed without further against the guarantor. Here the guarantor waives the Commission to have recourse. Here guarantees the guarantor in the scope of the legal costs.
  • Take advantage of the surety bond as rent deposit, it is permitted a maximum of three net rents, in accordance with § 551 BGB (German Civil Code).
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