Sooner or later, any natural or legal person faces the problem of a lack of funds, but life must go on. In such situations, to continue business relations, you can draw up a letter of guarantee for the payment of debt.
The essence of the guarantee
The main idea of writing such a letter is to guarantee the counterparty that financial and other obligations will be fulfilled in the future. This may be a guarantee for the payment of a debt or the delivery of a certain consignment of goods. In addition, such a letter is a guarantee of the seriousness of the intentions of one of the parties.
Legal Aspects
In civil law there is no concept of a “letter of guarantee for debt payment”, however, such letters are often used in business circulation. Indeed, such a letter is not an official document, but is for the most part a psychological measure of influence on the other side of the transaction, although it can act as evidence in a trial.
In order to give the text of the letter more legal force, it should be compiled taking into account the requirements of Articles 435-443 of the Civil Code. In particular, if the text of the letter of guarantee shows signs of an offer, and the response of the counterparty shows signs of acceptance of the offer, then these letters will be recognized by the court as evidence.
At the same time, there is a fairly diverse judicial practice in matters of letters of guarantee for debt payment, so if it is a matter of major financial transactions, it is recommended that a surety or loan agreement be drawn up.
You should also be aware that letters of guarantee interrupt the limitation period. Therefore, if the creditor received such a letter, then from that moment a new countdown of the limitation period of three years begins. On the other hand, a written guarantee does not deprive the creditor of the right to appeal to the court.
Compilation rules
Preparation of a sample letter of guarantee for payment of debt begins with filling out the heading of the document, which indicates the recipient and sender of the letter.
The text of the letter should be simple and concise. After reading it, the lender must immediately understand what kind of transaction is involved, what kind of debt and its size.
If we are talking about legal entities, then the outgoing document number and date must be indicated in the text. Best if the letter is written on letterhead. Such a document should be signed not only by the director, but also by the chief accountant.
If the letter of guarantee is not written after the header of the document, then this information can be written in a summary.
In some cases, it is even advisable to indicate penalties for non-compliance with the guarantee.
Popular wording
On the Internet you can find many samples of letters of guarantee for debt payment and for use in other situations, but the most important thing in the text is brevity and accuracy. Since such letters have been used for a long time, a lot of wording options have already been developed that will allow you to express your position as clearly as possible:
- if you should ask for a respite: “We guarantee full and timely payment”;
- if we are talking about a contract for training: “At the end of the training course, F. I. O. we guarantee employment”;
- if delivery times should be increased: “We guarantee the delivery of goods ... but on time up to ...."
But most often the most standard wording is used when drawing up a letter of guarantee on debt payment:
“... We recognize arrears in payment for goods .... that were delivered to us under the agreement .... from ..., in the amount of .... rubles. We guarantee payment in full until ... date ... ".
Instead of a conclusion
A sample letter of guarantee is an example of how the parties can resolve the conflict situation and not spoil their relationship. At the same time, the letter does not exempt the debtor from fulfilling its obligations under the debt, it only gives the right to a delay and loyalty of further relations. The lender, in turn, by agreeing to such a guarantee, exempts his debtor from paying fines.