This document records the approval of a guarantee & indemnity. The company guarantees the obligations of the borrower (whether a parent company, subsidiary, etc..) under a facility agreement.
The company acts as a guarantor for the loan. The company must verify the solvency of the borrower before approval. As well as determining the benefit of such guarantee.
This board resolution contains the following sections:
This document is intended for use in the United Arab Emirates.
This document is provided for reference only and is not intended to be, and should not be considered, legal advice. Determinations about whether this document will be appropriate in your particular situation or jurisdiction should be made after consultation with a legal counsel. Kanoony will not assume any legal liability that may arise from the use of this document.