I think it it's saying that they extend credit to a business with personal guarantors they don't have to notify the personal guarantors if the business gets past due.
Personally I try to not personally guarantee anything, with very few exceptions. I don't know what is going to happen tomorrow, and I'd prefer not to get stuck with a bunch of personal debt if a sudden business ending event happens. On Dec 6, 2017 1:00 PM, "Adam Moffett" <dmmoff...@gmail.com> wrote: > > ""The undersigned guarantor(s) > each expressly waive all notice at extension of credit to applicant, > demand for payment, and any > notice of default by applicant and all other notices guarantor(s) might > otherwise be entitled to. "" > > The above text is on an application for vendor credit. I'm somewhat > confused. I know in general it means waiving the right to be notified > about court proceedings, but I can't imagine what the scenario would be for > this. Something to do with collecting debt? > >
