a) The Guarantor acknowledges and represents that they received and understood our advice that they should seek independent legal advice before providing this guarantee. Despite our advice and/or the advice of their legal adviser, they have made their own informed decision to enter into this guarantee.
b) In consideration for us opening and providing a trading account to the Customer, the Guarantor guarantees all amounts of money of any nature that the Customer is, or may at any time in the future become, liable to pay us.
c) The Guarantor indemnifies us against all costs, losses, expenses and liabilities (including legal expenses on a full indemnity basis) incurred by us at any time as a direct or indirect consequence of any amount that the Customer has failed to pay by the due date for payment. The Guarantor will pay upon demand, delivered by post to the Guarantor’s last known address, all amounts payable in relation to this indemnity.
d) If there is a default by the Customer, we have full discretion to decide whether to enforce payment of the debt directly with the Customer, or whether we will pursue the Guarantor.
e) If there is more than one Guarantor, this guarantee and indemnity is joint and several, and we can choose whether we will enforce it against only one, or more Guarantors, to remedy any default. There is no obligation on us to seek equal contributions from all Guarantors. Any Guarantor may be liable for the total amount payable to us and we are not obliged to pursue any liability equally amongst the Guarantors.
f) This guarantee and indemnity will continue to operate until it is withdrawn by any Guarantor or released by us.
g) This guarantee does not contain any obligation on us to disclose to the Guarantor any information regarding the Customer’s financial affairs, other than those provided by law. Privacy law prevents us from disclosing a Customer’s personal information to Guarantor.