A creditor will have to exhaust all the possible legal procedures to try to collect from the principal debtor before he can collect from a conditional guarantor of collection.

Question

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This is typically true for conditional guarantors of collection, as their obligation to pay only arises if the creditor is unable to collect from the principal debtor despite exercising all legal remedies. This is often stipulated in the terms of the guarantee agreement.

A Creditor Will Have to Exhaust All the Possible Legal