Solicitor's Certificate of Independent Legal Advice
Some financial institutions require borrowers or guarantors to obtain independent legal advice as a condition of their loans. We review loan documents and guarantees and issue certificates of independent legal advice.
Implications of Being a Guarantor
If, for any reason, the borrower does not repay the loan, the lender can ask you to pay under the guarantee.
Giving a guarantee or an indemnity involves considerable risk, including the risk of losing property and valuable assets. Giving a guarantee requires very careful consideration.
This is not just witnessing a signature. The lender sends you to us for advice on the loan or guarantee documents. Lawyers must analyse the documents and then provide legal advice. We then discuss them with you at our Fremantle Offices to be satisfied that you understand the transaction you are entering into and our advice in relation to it. We will then complete the certificate of advice required by the lender.
Please contact us if you would like a quote to obtain a Solicitor's Certificate of Independent Legal Advice. Because our offices are not located in the CBD our rates are substantially lower, often up to 20% lower, than most commercial law firms.