Common Contracts
1 similar Letter of Deposit contracts
LETTER OF DEPOSIT FOR A SINGLE BORROWER AND A THIRD-PARTY GUARANTORLetter of Deposit • November 26th, 2021
This is a letter of deposit also Known as an Informal Charge executed between the Borrower of a loan, the Chargor who is the third-party guarantor and the Lender. It is done in favour of the Lender and acts as security for a sum/credit/loan advanced to the Borrower. It defines the terms under which such loan has been granted and provides mechanisms of debt collection and or remedies to the Lender upon default of the Borrower.
