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PERSONAL AND BANK GUARANTEES FROM THE POINT OF VIEW OF INDEBTEDNESS
This activity is specifically designed for people who run small businesses or are in the process of launching new business ventures. These are participants who need to understand how the use of collateral can affect their access to finance, risk management and business growth strategy.
The objective is that the participants can apply the knowledge acquired to optimize their financing strategies, minimize risks and improve the financial management of their
business Also, that they can recognize how proper management of guarantees can open up new credit opportunities and improve relations with financial institutions.
Full syllabus:
Introduction to Guarantees
. Definition of guarantee: A guarantee is a commitment that ensures the fulfillment of an obligation.
. Main types: personal guarantees and real guarantees (bank guarantees are a type of real guarantee when they involve assets).
. Analyze the Legal and Regulatory Framework: Examine the legal implications of bankruptcy in guarantees, and the possible effects on personal assets.
What is a Joint Guarantee?
. Definition of joint guarantee.
. Main characteristics: shared responsibility between two or more debtors.
. Conditions under which this type of guarantee is activated.
What is a Solidarity Guarantee?
. Definition of joint and several guarantee.
. Main features: any of the debtors can be required to pay the entire debt.
. How it works in practice.
Practical Implications
. When to choose a joint guarantee and when a joint guarantee.
. Advice on how to negotiate the type of guarantee with the banks.
. Legal and financial implications of each type of guarantee.
Personal Guarantees
. Definition: This type of guarantee involves a personal promise made by a third party (guarantor) to pay the principal debtor's debt in the event that he cannot do so.
. Main characteristics: They do not require an asset as collateral; based on trust in the guarantor.
. Examples: Personal guarantees, suretyship.
Bank guarantees
. Definition: Bank guarantees are commitments made by banking entities to cover the debt of a debtor if he does not comply with his obligations.
. Type: Bank guarantee, guarantee letters of credit, among others.
. Operation: The bank makes available to the creditor a sum of money that guarantees that the debt will be paid.
Indebtedness and Guarantees
. Risks of borrowing with guarantees: The use of guarantees can increase the borrowing capacity, but it can also put personal or business assets at risk.
. Prudent debt management: It is crucial to assess the ability to pay before committing to guarantees that could lead to significant losses.
Tips for using Guarantees
. Evaluation of the guarantor entity: Make sure that the entity offering the guarantee is solid and reliable.
. Read and understand all terms: Before signing any warranty documentation, it is essential to fully understand the terms and conditions.
. Consider alternatives: In some cases, it might be safer or cheaper to opt for other forms of financing that do not require collateral.
Conclusion
. Personal and bank guarantees are useful tools in debt management, but they require careful management and an awareness of the associated risks.
Calendar
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IMPORTANT: This activity is carried out in two types of format: face-to-face session or virtual session. Consult the type of each session in the web calendar.
Virtual session: The virtual sessions of this activity are delivered via streaming using the free Microsoft Teams platform. Registrants will receive an email link with the invitation and access instructions prior to the start of the session.
In the activities of the Virtual Classroom, all those people who have accessed the space in the first 30 minutes of the training will be considered as "attended". People who join later will be counted as "not attended" and the corresponding certificate will not be generated.
Face-to-face session: information on the place where the face-to-face session takes place, address and classroom, can be found on the website.
In the face-to-face activities, registered people must certify their attendance by signing the attendance sheet that they will find at the reception of the corresponding equipment.