Personal Guarantees can often be provided to support factoring, confidential invoice discounting and other finance secured on a business’ debtor book.
Quite often verbal assurances are provided, by representatives of the funders, before or during the signing of a Personal Guarantee and it is important to understand these in the context of signing such a document.
There are also other traps for the unwary, including indemnities and warranties which can add further complexity to the situation.
If you are about to sign a Personal Guarantee, these funders can be flexible on certain aspects of the document you are signing and it is worth contacting us to understand what flexibility there is to mitigate any potential claim. If you are being pursued on an invoice finance Personal Guarantee, time is of the essence if you want to mitigate your costs – get in contact now so we can help clarify your situation to best protect your position.