Hello All
Hope someone can help, i have been asked by the workmanship warranty company to sign a personal Guarantee against my company going bankrupt, they advise me to seek legal advise on the matter.
should i sign the document it is legally binding & also it is only rescinded by them, in other words they will terminate it when they feel like it.
i know this only applies for the 2 years that i cover the install of the work & therefore only lasts for this amount of time, also as the warranty only kicks in should my business not be trading at the time of the claim.
looks like they take £75.00 per job for f....all, except to pay out should i not be trading & then come & get it from me after Nice one.
does anybody have any advice or has had a similar problem? I hope that i am still trading in two years time & as this is not my main source of income, company is primarily electrical contractors. from my point of view i feel fairly well covered as i use a roofer for the install of the kit who has all his paperwork & use a scaffold company at same time, from my point of view the kit has warranty & the only work we do is electrical work.
should there be a problem on the roof & we are not trading then this would be passed onto the roofer & therefore i am covered.
your thoughts
Hope someone can help, i have been asked by the workmanship warranty company to sign a personal Guarantee against my company going bankrupt, they advise me to seek legal advise on the matter.
should i sign the document it is legally binding & also it is only rescinded by them, in other words they will terminate it when they feel like it.
i know this only applies for the 2 years that i cover the install of the work & therefore only lasts for this amount of time, also as the warranty only kicks in should my business not be trading at the time of the claim.
looks like they take £75.00 per job for f....all, except to pay out should i not be trading & then come & get it from me after Nice one.
does anybody have any advice or has had a similar problem? I hope that i am still trading in two years time & as this is not my main source of income, company is primarily electrical contractors. from my point of view i feel fairly well covered as i use a roofer for the install of the kit who has all his paperwork & use a scaffold company at same time, from my point of view the kit has warranty & the only work we do is electrical work.
should there be a problem on the roof & we are not trading then this would be passed onto the roofer & therefore i am covered.
your thoughts