Preview · page 1Landlords, suppliers giving credit and lenders asking for a guarantor
Deed of Suretyship
A personal guarantee: a surety agrees in writing to pay if the debtor doesn't, for a loan, lease or credit account.
Quick answer
A deed of suretyship is a written agreement used by landlords, suppliers giving credit and lenders asking for a guarantor in South Africa. This template covers identity of creditor, surety and principal debtor, debt covered and maximum amount, joint and several liability as co-principal debtor, renunciation of benefits of excussion and division and more, drafted with POPIA, the CPA and the ECT Act in mind.
R199
Free live preview · filled Word + PDF · reuse forever
Sign and send: fill it in, pay once, then sign online and email it to the other side to sign back. Included free.
Or get any 3 for R399 · all 43 for R599
What's inside
- 01Identity of creditor, surety and principal debtor
- 02Debt covered and maximum amount
- 03Joint and several liability as co-principal debtor
- 04Renunciation of benefits of excussion and division
- 05Spouse consent (Matrimonial Property Act s15)
- 06Certificate of balance
- 07Domicilium and jurisdiction
- 08POPIA clause
Good to know
Does a suretyship have to be in writing?+
Yes. Section 6 of the General Law Amendment Act 50 of 1956 says a suretyship is only valid if its terms are in writing and signed by or for the surety.
Does my spouse need to sign my suretyship?+
If you're married in community of property, your spouse's written consent is generally needed, unless the suretyship is given in the ordinary course of your business.
What is a deed of suretyship?+
A deed of suretyship is a written undertaking by a surety to pay a creditor if the principal debtor doesn't.
Can a surety be held liable for the full debt?+
Yes, if the surety signed as co-principal debtor and renounced the benefits of excussion and division, up to any limit in the deed.
How does a surety get released?+
Only if the creditor releases them in writing, or the debt is paid in full. Resigning as a director doesn't release a director's personal suretyship.
Is this legal advice?+
No. It's a professionally structured starting point. For high-value or unusual deals, have an attorney review your completed document.
