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Only in exceptional cases and for some special forms of instant credit additional guarantees are required. The guarantee allows banks to immediately access the guarantor’s assets. Additional collateral could be provided with a second borrower. For banks, credit is basically nothing more than a business. 

Investments and financings are essential components of company practice and business studies. Dr. Tobias A. and Dr. Christine Immobilienkötter will present you with the key features of the financial industry and introduce you to the essential financial instruments of external and internal financing with financial management

Collateral – a definition

Collateral - a definition

Lending is one of the most important business areas of banks and credit institutions. By granting loans, the company generates sales and profits. However, even loan losses can lead to losses. If a lender considers a loan transaction to be too uncertain, he has the option of claiming collateral from a borrower. For this purpose, a broad distinction is made between material and personal loan collateral.

When concluding a loan agreement in private customer business, the fee or the fee is initially recognized as the security for the loan requested. Residual agreements can also be concluded in the form of credit insurance. In cases of illness, death or illness, the lender will be reimbursed by the insurance company for the remaining debt. Frequently, capital insurance policies for the repayment of the loan amount, term life insurance policies to cover the credit risk in the event of death or vehicle insurance collateral policies are also required.

Movements are only recognized as security in exceptional cases, as they must be kept at the bank. If the borrower’s creditworthiness is insufficient despite salaries and wages, a guarantor can be appointed. With the conclusion of a guarantee contract governed by the Civil Code (BGB 765ff), the guarantor assumes responsibility for the obligations of the guarantor towards the consignor.

Simple guarantee and a directly enforceable guarantee

Simple guarantee and a directly enforceable guarantee

It differentiates between a simple guarantee and a directly enforceable guarantee for these forms of security. If a simple guarantee is agreed upon, the guarantor will only be called upon if all efforts to collect the claim have been unsuccessful. In the case of an enforceable guarantee, the lender may demand immediate payment of the claim. The guarantee expires when the loan debt is repaid, a period is set or the guarantor is claimed.

In case of the passing of the guarantor the warranty does not expire. The lien right, the security assignment, the land charge and the land charges belong to the material or real guarantees. However, the property is rarely used to secure a loan. When taking out a loan, a mortgage is recorded on the property or property of the borrower. Backup tasks are taken over for motor vehicles.

The license plate remains the property of the bank until the loan has been fully repaid.