Qarzan Hasana Guarantor 1 Form
(All fields are required)
This agreement is executed between
(hereafter called the guarantor)
(hereafter called lender of Qarzan Hasana)
It is hereby agreed by both parties the following terms and conditions:
1. The applicant
has applied for Qarzan Hasana amount $
from Anjuman-e-Hakimi, BKFLD, Qarzan Hasana and borrower shall pay $
per month beginning
2. This guarantor takes unconditional guarantee for repayment of $
of the total amount of
Qarzan Hasana loan borrowed by the borrower.
3. The guarantor unconditionally agrees that if for any reason the borrower fails to fulfill the Qarzan Hasana commitment
or the borrower's check bounces the guarantor will immediately become liable of such amount.Anjuman-e-Hakimi,BKFLD,
will immediately deposit Guarantor's check in the Qarzan Hasana account and it will be for borrower's account and it
will be non refundable.
4. The guarantors liability in case of default of the above loan will be $
per month until the full amount
of guarantors obligation of borrowers amount $
is fully paid.
5. Recovery from borrowers collateral will be made in due time, but guarantor will have to continue with his/her obligated
payments to Anjuman-e-Hakimi borrowers account
6. In case of check returned by the bank the borrower will be responsible for all the charges.
Guarantor will submit
checks of $
each to cover above default.
This agreement has been executed on this