I am duly authorized by the applicant business to enter into this agreement on its behalf. I/We agree that(inconsideration for the granting of credit facilities to the above company) the account will be paid strictly in accordance with the credit terms i.e. 30 days and I personally guarantees to pay any amount outstanding unpaid on the account, either jointly or severally. This guarantee is primary obligation and I/We agree that you will not be obliged to take any action including court proceedings against the above mentioned company before looking to myself/ourselves for payment. I/We enter into this obligation for myself/ourselves and successors in title.
I understand that you may authorize a search through credit reference agencies, which will keep a record of that search and may share that information with other businesses. It/they may also make enquiries about the directors/partners as applicable.
I authonse our bankers to provide an opinion as to our suitability for the requested account.
I have read and understand the full implication of this guarantee.