if the sub limits were changed temporally within the overall limits and the guarantor has not signed the arrangement letter, is he released from his guarantee?
2 Answers from Attorneys
Dear Sir / Madam,
No, he still remains the guarantor to the facilities availed by the borrower.
No, the guarantor has guaranteed the total limits. He is not discharged merely because the sub-limits are changed.Themguarntee agreement protects the lender bank.
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