Guest: Gerald Mwandiambira | Financial Planning Professional, Entrepreneur and Author
Has a family or friend asked you to stand as surety for a loan? Before you signed the dotted line, be sure of what you are signing up for. Signing surety on behalf of a company by a director or shareholder, and in some instances by a spouse or friend, in favour of a creditor, ensures that if the company cannot make good on its contractual duty of payment, then the creditor may approach the surety to demand payment on the company’s behalf. Gerald Mwandiambira, runs through some considerations before you commit.
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