Personal Guarantee Insurance

Singapore Personal Guarantee Insurance

Personal Guarantee

Personal Guarantee Insurance
Signing a personal guarantee has somewhat become a norm for businesses when applying for commercial loan. Needless to say this is part of business when you need the funds for expansion, buying and a whole lot of other business requirements. The real question here is though personal guarantee is a necessary evil, do you really know what you are getting into when you sign the agreement with the banks? You need to thread this area very carefully.

Do you have answers to the following questions?

  • What is your risk tolerance?
  • Have you defined your terms in advance?
  • Do you know how to negotiate the terms of PG with the bankers?
  • Have you set limits on your PG?
  • Will you family be pulled into this?
  • And a whole lot of other very important questions

There is an option in that is available you to protect yourself and allows you the ability to insure against personal guarantee. This is where Personal guarantee insurance can protect you and your personal assets. Armed with this coverage, you can limit your personal risk to a more palatable level.

If you need more clarification and consultation on how a Personal Guarantee Insurance will benefit your business in Singapore, please feel free to contact us.

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