Directors Guarantee and Indemnity

Purpose

The following procedure outlines the conditions for obtaining a Vendor or Purchasers Directors Guarantee.

Procedure

A Vendor Directors guarantee should be used when a property is listed for sale where a company is the

owner of that property.

Both Directors or a Director and the Secretary should sign the guarantee. 

When the guarantee has been signed, it is necessary to attach a copy of the authority agreement.  It is also “preferable” that the witness to the agreement is not the listing or selling agent.

A Purchasers Directors Guarantee must be considered when a property is purchased by a company.

See Vendor Directors Guarantee Directors Guarantee.doc.