Notary office in Saint-Jean-Cap-Ferrat - FRANCE

When an SCI intends to obtain a real estate loan to finance an acquisition, it is best practice, for the bank, to seek the surety bond of one or more shareholders of the SCI.

The bank must first ensure that the surety bond is not "manifestly disproportionate to the income and assets of the guarantor", under penalty that the surety bond is "reduced to the amount to which it could commit on that date" .

It must also “warn a guarantor who is a natural person when the commitment [of the SCI] is unsuitable for the financial capacity" of the latter, the risk, this time, being the forfeiture "of their right against the guarantor in the amount of the damage suffered by it" .

Furthermore, and this is the purpose of this Client Memorandum, when the guarantor partner is married, it also raises the matter of obtaining the consent of their spouse.

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 ¹ C. civ., art. 2300.
 ² C. civ., art. 2299.