A Directors Guarantee is used where required by our experienced underwriters to indemnify us should the company you are attached to fail or go into liquidation.
It is extremely important that before signing a DIrectors Guarantee that you seek legal action so that you understand the obligations required by yourself.
Our underwriters will ask for a Directors Guarantee if the company is newly incorporated, has a low credit score, overseas parent company (cross-company guarantee might be requested) or you have had failed businesses in the past.
What happens if I resign as a Director?
If you resign as a Director, the guarantee is in place until this is replaced with a new guarantee or the vehicles have come back and the contract payments are up to date.