IMPORTANT - PERSONAL LIABILITY: By signing this section, the Guarantor may become personally liable for the Customer's debts. Independent legal advice is recommended before signing.
In consideration of Autostance Limited approving or continuing credit or supplying goods or services to the Customer, each person signing as Guarantor unconditionally and irrevocably guarantees the due and punctual payment and performance of all present and future amounts and obligations owing by the Customer to Autostance.
The Guarantor indemnifies Autostance against loss, liability, cost or expense arising if any guaranteed obligation is or becomes unenforceable against the Customer, or any payment is avoided, set aside, refunded or required to be repaid.
This indemnity is a separate and independent obligation.
The Guarantor is liable as principal debtor and Autostance may make demand on the Guarantor without first making demand on, suing, enforcing security against, or exhausting remedies against the Customer or any other person.
This is a continuing guarantee and indemnity. It is not discharged or affected by payment of an account followed by further supply; any change in credit limit; variation of trading terms; extension of time or indulgence; compromise; failure to perfect or enforce security; change in the Customer's ownership, directors, name or constitution; insolvency; or any other act, omission or event that might otherwise discharge a surety.
Where there is more than one Guarantor, their obligations are joint and several. A release or unenforceability affecting one Guarantor does not release another.
The guarantee continues until Autostance gives the Guarantor a written release. A request to end future liability does not affect obligations arising from transactions entered into, committed to or supplied before Autostance confirms the release in writing.
The Guarantor must pay Autostance's reasonable enforcement and recovery costs relating to this guarantee and indemnity, including legal costs on a solicitor-client basis, to the extent permitted by law.
The Guarantor confirms that the information provided is correct, that they have read and understood this Guarantee and Indemnity and the Terms of Trade, and that Autostance has recommended obtaining independent legal advice before signing.