Sample letter of guarantee for payment of debt

Financial relations between individuals or legal entities are supported by relevant documents.

The main thing is the contract, which spells out the rights and obligations of the parties. If one of them cannot fulfill financial obligations, a letter of guarantee is written to pay the debt.

Document Functions

This document is necessary for the pre-trial settlement of financial disputes. The basis for its formation are certain articles of the Civil Code of the Russian Federation - 619, 715, 723 and 480. The choice depends on the specific case and type of monetary obligations. However, this practically does not affect the form and partially affects the content. In the latter case, it is recommended to provide a link to a legislative document in order to increase the chances of a positive response from the other side.

The letter of guarantee performs the following functions:

• notifies the creditor or provider of services (goods) of temporary financial difficulties;
• serves as a basis for revising the debt repayment schedule;
• included in the package of documents for pre-trial settlement of disputes;
• reinforces the intention of one of the parties to the contract to pay off accounts payable

A letter of guarantee can be drawn up on behalf of an individual or organization. It does not matter whether such a possibility is provided for by the contract or not. The determining factor is the freedom of expression of the will of the debtor.

In the process of negotiations, the content of the document may change if the initial conditions do not suit the creditor.

Previous versions do not lose their legal force and can be used as evidence during the trial.

Is it necessary or not?

This document can express the intentions of one of the parties to the contract, regardless of the type of commodity-money relations. A letter of guarantee is drawn up in two cases. The first one is that the borrower has not yet overdue payments, but the financial situation will not allow fulfilling obligations in the future. The second case - the debt has already been formed, the schedule for its repayment differs from that specified in the contract.

The following factors are the basis for writing a letter of guarantee:

• all types of loans: consumer, targeted, monetary;
• late payment for goods or services.

The date of drawing up the document should not be earlier than the signing of the contract between the parties. The letter must contain references to the clauses of the agreement. Also, you cannot present a new repayment schedule if the amount of the debt or the methods of its calculation are controversial. To solve this problem, another type of letters is provided - claim letters. They differ in content and legal force.

Within the framework of the current legislation, there are no strict rules for filling out a letter of guarantee. But besides them, there are unspoken recommendations on document management. If you draw up a document in accordance with these rules, there will be no ambiguity in the wording, there will be no ambiguities when reading the content.

• It is necessary to justify the reason for the delay in payment, and as a result, the formation of debt. If these are third-party circumstances, supporting documents are attached.
• Accurately describe the proposed debt repayment schedule, take into account the difference with the original plan specified in the contract.
• Indicate the clauses of the contract that are violated as a result of the delay.
• It is recommended to use references to regulatory documents if the content of the contract falls under their scope.
• The presentation of the thought is short, using business turns and formulations. Jargon and similar phrases are not allowed.

Sample letter of guarantee for payment of debt

For specifics, you need to familiarize yourself with the sample document. Its content will vary on a case-by-case basis. Within the framework of one contract, several letters of guarantee for payment of debts can be drawn up, with a difference in wording depending on the circumstances and factors.

A typical sample should contain the following sections:

• Destination. It indicates the full name of the creditor, his address. For the organization, you need to specify the head to whom the letter is sent - full name and position.
• Compiled. It can only be a private or legal person with whom the contract is concluded. Third parties are not authorized to draw up such documents.
• Main content. Here it should be indicated that the credited person undertakes to repay the formed debt under the current agreement. The exact amount is indicated. Additionally, you can paint the exact payment schedule.
• Penalties. The item is optional, but recommended. It signs the amount of the accrued penalty to the total amount if the applicant does not fulfill the obligations assumed.
• Signature of the responsible person, his full name and the date of the formation of the application.

After checking the content, the document is sent to the creditor. It is important that a responsible manager or an employee with the proper level of authority familiarizes himself with it. Most often, this is the chief accountant of the organization.

How to compose text correctly

Often the problem in rejecting a letter of guarantee lies in incorrect or ambiguous wording. Therefore, often for its compilation resort to the services of professional lawyers or hired accountants. This is true if the terms of the payment agreement were violated for the first time. For regular partners, the letter is only a guarantee in nature - a brief content is allowed.

To make an application, the text must contain one of the following expressions and phrases:

• We guarantee full and timely payment. It is used to confirm obligations and the date (schedule) of debt repayment.
• Due to the unfavorable economic situation (circumstances). The reasons for deferred payments are specified.
• Due to special circumstances. Indicated for force majeure. In this case, the details can not be deciphered. But it all depends on the degree of trust between partners.

The circumstances of the delay should be explained as simply as possible, but at the same time detailed. The creditor should have no doubts about the observance of earlier agreements. If additional documents are attached to the application, they must be referenced in the content. These can be statements from the company's accounts, information about the occurrence of force majeure circumstances.

Letter with payment schedule

If the amount of debt is large or the terms of the agreement imply payment in several stages, a payment schedule is drawn up. It is attached to the letter of guarantee and is the basis for the intentions of the creditor to repay the debt. When preparing an application with a payment schedule, you should carefully analyze the possibility of making the required amounts on the specified dates.

When drawing up a schedule, the following factors should be considered:

• The chart is a separate application. It should be referenced in the body of the document.
• The date of the formation and sending of the payment is indicated. It may differ from the time of receipt of funds to the current account of the creditor. The difference is from 3 hours to several days.
• Consider obligatory observance of repayment. The required amount must be prepared in advance so that a new delay does not form.
• In the purpose of payment, the number of the contract and the phrase "According to the letter of guarantee" are written. Penalty payments can be made separately or taken into account in the total amount. This should also be indicated in the purpose of payment.

Additionally, you can specify the bank details of the account from which the funds will be received. It is important that the lender sees the payment in a timely manner, the time of receipt of which corresponds to the previously received letter of guarantee and schedule.

Legal force of the document

This type of document does not have any specific legal effect. The current Civil Code does not contain articles describing a letter of guarantee, requirements for its preparation and detailed recommendations and actions. But this does not mean that the application is useless - if properly drawn up, it can become the basis for deferred payment.

A letter of guarantee for payment of a debt has the following advantages:

• Confirms the recognition of the amount of debt. By this, the sender does not renounce the obligations assumed in the contract, but only wants to change them to solve temporary financial difficulties.
• May prevent the commencement of litigation for debt collection. The practice of pre-trial settlement in compliance with the laws shows that this method of resolving conflict situations is beneficial to all parties.
• For a creditor, a letter of guarantee can become one of the evidence of non-compliance with the conditions if the case goes to court.

The actual validity of the document does not begin from the moment it is provided by the other party, but by formal agreement with the terms of the delay. To do this, it is recommended to make adjustments to the previously signed agreement or make an annex to it. In this case, the original remains with the creditor, and a copy with a mark of receipt - with the debtor. A similar measure is needed for the same information in the package of documents for both parties.

Transfer and possible reasons for refusal

As such, there is no clear procedure for transferring the application to the other party. Typically, letters of guarantee are given to the administrator of the organization or authorized representative. But this may lead to the lack of information from the manager about the receipt of the document.

Based on the experience of transmitting such applications, it is recommended to perform the following actions:

• the document is given to the head or chief accountant;
• you need to make a copy of the letter of guarantee, on which the date of receipt by the creditor, wet seal, full name and signature of the recipient is put;
• if the transfer is carried out through the secretary, the head (chief accountant) is informed in a telephone conversation or by e-mail;
• it is desirable to duplicate the letter by fax and e-mail.

Confirmation of receipt and agreement with the terms of the application - the creditor's resolution on the document. In rare cases, a response letter is generated.

Only disagreement with the amount of the debt or the schedule of its repayment can serve as a refusal for such applications.. But this needs to be discussed in advance to avoid unnecessary paperwork. During negotiations, general agreements are reached, which are then written in a letter of guarantee.