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Thread: Personal Sureity

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    Personal Sureity

    Hey everyone

    What is the norm regarding clauses in dealership applications (IT Companies etc) that state that members are personally liable for debts if the cc cannot repay them?

    If it's a COD application, can I eliminate the clauses?

    Thanks!

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    Site Caretaker Dave A's Avatar
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    I can't speak for the norm of the IT industry, but I have often crossed out the surety clauses in credit applications with suppliers. Particularly if they have any latin in them. My other favourite is to cross out any indefinite period reference and insert "as long as I remain a director of the company" (in my case I'm a director, not a member).
    The trouble with opportunity is it normally comes dressed up as work.

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