GUARANTOR’S FORM
Name: ………………………………………………………………………….…………………
Sex: ……………………………… Marital Status: …..……………..………..
Occupation: ………………………………………………………………...........
Employer: …………………………………………………………………….………………..…
Office Address: ………….……………………………………………….………………………
………………………………………………………….…………………………………….………
Department: ……………………… Position: …………….……………….. (e.g., Head, Ops)
Office Tel. No.: …..…………..………… Mobile No.……..…………………………….……
E-Mail: ……………………………………………………………….………………………………
Residential Address: ………………………………….………………………………………
BVN: ………………………………….………………………………………
GUARANTOR’S OATH
In consideration of Assets Microfinance Bank Limited (“Lender”) advancing the Loan amount of
N……………………….…… to ……………………….…………………….. (“Borrower”)
of………………………………………………………………………… (address)
I, ………………………………………… (“Guarantor”) hereby irrevocably and unconditionally give
this Guarantee on behalf of the Borrower.
In the event the Borrower defaults on the terms of the Loan Agreement, I hereby irrevocably
and unconditionally promise and guarantee to be responsible and liable for all outstanding
sums on the Loan Amount, waiving all rights of objection and defense. The lender reserves
the right to make demand on me for the payment as soon as the client default in any of its
installment and I am expected to immediately make payment to that effect.
This guarantee is and shall at all times be a continuing security for the Loan advanced to the
Borrower. My liability under this guarantee shall not be reduced, discharged or otherwise
adversely affected by any act, omission, restructure or matter, other than the full repayment of the
loan and any outstanding interests or fees. I understand that this agreement shall not cease or
be terminated until the full settlement of the loan, which include the principal and the interest of
the loan by the debtor or/and myself.
Consequent to the Foregoing, as security for all of the Borrower's obligations and liabilities to the
Lender, whether now existing or hereafter arising under the Loan Agreement, I hereby secure this
guarantee with my personal wealth.
By this mandate, I hereby authorize and agree that Assets MFB shall, in the event of default, and
without recourse to me, shall appropriate, set-off, debit, or effect transfer(s) from any of my
accounts held with any Bank and other financial institutions in Nigeria in whatsoever nature or
character including current, savings, deposit /fixed /term, whether matured or not, whether or not
held in a joint name or together with any one or more persons, irrespective of the currency and/or
combine or consolidate all or any of my accounts towards payment of my loan repayment. I
authorize and confirm that Assets MFB has the right herein in respect of an account in like manner,
also apply to any investment account held in any Bank and other financial institutions in Nigeria
(howsoever any such account, product or service may be described), including Treasury Bills,
Bankers’ Acceptance, Commercial Papers, etc. I confirm that Assets MFB has the right to
accelerate the maturity of any investment product or deposit in furtherance of its right herein.
I irrevocably appoint the Lender to be my attorney in its name, on its behalf and as its act and
deed, to execute any documents and carry out any act and things that I am required to execute,
and do under this Guarantee. I hereby ratify and confirm any act of the Lender in the proper and
lawful exercise of this power of attorney.
This guarantee is personal to me and my obligations under it are not transferable or assignable.
Any dispute or claim arising out of or in connection with it or its subject matter or formation
(including non-contractual disputes or claims) shall be governed by, and construed in accordance
with, the laws of the Federal Republic of Nigeria.
NB: Any cash amount pledged as collateral cannot be utilized during the loan tenor.
This document has been executed as a Deed and is delivered and takes effect on the date stated
at the beginning of it.
SIGNED, SEALED and DELIVERED by the within named GUARANTOR
In the presence of:
Name: ………………………..……………………………………………
Address: …………………………………………………………………...
Occupation: ……………………………………………………………….
Phone: ……………………………………………………………………..
