§ 6-10. When can the guarantor be required to pay? When a personal guarantee falls due

This section decides the earliest point at which a lender (the bank or another creditor) can demand money from the guarantor (the person who has vouched for the loan). The guarantor is not the first stop. The lender must first have started legal proceedings against the borrower to obtain an enforceable basis, that is, a decision or a document that can be followed up with enforced collection. Once the way is open, the lender sends a written demand for payment. The guarantor must pay 14 days after the demand has been received.

How early the claim can be made against the guarantor depends on the borrower's situation. If the lender already has an enforceable basis, it is enough that enforcement proceedings have been requested. If there is security for the debt, the lender must wait three months after enforced recovery from the security was requested. In the event of bankruptcy, or debt negotiations under the Bankruptcy Act, the guarantor can be required to pay immediately. If the security is good enough to cover the entire debt, the three-month waiting period nevertheless applies. In debt negotiations under the Debt Settlement Act, the lender must wait until the negotiation period is over.

This section is closely linked to other laws. The Debt Settlement Act § 3-4 sets the negotiation period at four months. During that time, the creditors (those who are owed money) are subject to a payment moratorium, and that section expressly states that they cannot go after the guarantor either, with a reference to this section. The Mortgages and Pledges Act § 1-9 and the Maritime Code § 44 otherwise give the holder of a charge the right to demand that the secured claim be paid before the agreed time, for example in the event of material breach (vesentlig mislighold) or the debtor's (skyldner) bankruptcy. These rules do not apply to third-party collateral guarantees (a guarantee in which someone provides collateral (pant)). When the claim falls due is then governed by this section.

This section sits in the middle of the chapter on personal guarantees (kausjon). Under § 6-9, the guarantor can choose to pay early when the borrower defaults. Under § 6-12, the guarantor is liable for court fees and ordinary collection costs from the legal steps only if he was notified in advance. § 6-11 governs interest, and § 6-13 gives the guarantor a claim against the borrower to the extent he is liable to the lender.