For valuable consideration and for the purpose of enabling the buyer to obtain and/or continue to obtain credit from the seller,the guarantor, personally, jointly and severally guarantee absolutely and unconditionally the prompt and complete payment to the seller upon maturity according to the terms of any and all goods sold, charges, sales, services rendered and/or any and all indebtedness pursuant to an application of credit.
The Long Beach California Guaranty of Payment of Open Account is a legally binding document that ensures the payment of an open account between two parties, specifically in the city of Long Beach, California. This agreement serves as a guarantee that the guarantor will be held responsible for the payment of any outstanding debts owed by the debtor. The guaranty of payment is typically used in business transactions where one party extends credit to another. Keywords: Long Beach California, guaranty of payment, open account, legally binding, document, guarantee, outstanding debts, debtor, business transactions, credit extension. There are a few different types of Long Beach California Guaranty of Payment of Open Account, each serving a specific purpose depending on the nature of the transaction: 1. Limited Guaranty of Payment of Open Account: This type of guaranty places limitations on the extent of the guarantor's liability. It may specify a maximum amount for which the guarantor will be responsible or cover only a specific duration or set of transactions. 2. Continuing Guaranty of Payment of Open Account: In this case, the guarantor's responsibility extends beyond a single transaction. The guarantor agrees to be held liable for any outstanding debts on an ongoing basis until the obligation is fully discharged or terminated. 3. Absolute Guaranty of Payment of Open Account: This type of guaranty holds the guarantor fully responsible for the payment of the open account, with no limitations on liability. It covers all outstanding debts, regardless of the amount or duration. 4. Joint and Several Guaranty of Payment of Open Account: This type of guaranty is entered into by multiple guarantors who are collectively and individually responsible for the payment of the open account. If one guarantor fails to fulfill their obligation, the others remain fully liable for the outstanding debts. It is essential to carefully review and understand the terms and conditions of the Long Beach California Guaranty of Payment of Open Account before engaging in any business transactions. It is recommended to consult with a legal professional to ensure compliance with local laws and to protect the rights and interests of all parties involved.The Long Beach California Guaranty of Payment of Open Account is a legally binding document that ensures the payment of an open account between two parties, specifically in the city of Long Beach, California. This agreement serves as a guarantee that the guarantor will be held responsible for the payment of any outstanding debts owed by the debtor. The guaranty of payment is typically used in business transactions where one party extends credit to another. Keywords: Long Beach California, guaranty of payment, open account, legally binding, document, guarantee, outstanding debts, debtor, business transactions, credit extension. There are a few different types of Long Beach California Guaranty of Payment of Open Account, each serving a specific purpose depending on the nature of the transaction: 1. Limited Guaranty of Payment of Open Account: This type of guaranty places limitations on the extent of the guarantor's liability. It may specify a maximum amount for which the guarantor will be responsible or cover only a specific duration or set of transactions. 2. Continuing Guaranty of Payment of Open Account: In this case, the guarantor's responsibility extends beyond a single transaction. The guarantor agrees to be held liable for any outstanding debts on an ongoing basis until the obligation is fully discharged or terminated. 3. Absolute Guaranty of Payment of Open Account: This type of guaranty holds the guarantor fully responsible for the payment of the open account, with no limitations on liability. It covers all outstanding debts, regardless of the amount or duration. 4. Joint and Several Guaranty of Payment of Open Account: This type of guaranty is entered into by multiple guarantors who are collectively and individually responsible for the payment of the open account. If one guarantor fails to fulfill their obligation, the others remain fully liable for the outstanding debts. It is essential to carefully review and understand the terms and conditions of the Long Beach California Guaranty of Payment of Open Account before engaging in any business transactions. It is recommended to consult with a legal professional to ensure compliance with local laws and to protect the rights and interests of all parties involved.
