The constitutional court set the term of the guarantors liability for unpaid loan

to Collect the debt from the guarantor on the loan within one year after the debtor has ceased to pay. This position was made by the constitutional court. The high court banned bondage stretch for guarantors for long years.

the COP took the complaint of a resident of the capital. Six years ago a man decided to rescue a relative and surety their property on his loan. The loan amount was solid – 890 thousand US dollars. But the period within which the surety must insure the solvency of the debtor, parties to the transaction decided not to install. The agreement appeared vague phrase “full repayment”. A generous citizen of this nuance was not considered important and at first felt safe. But two years later, the surety suddenly received a summons in the Tver court of capital. It turned out that the funds the debtor has dried up to pay he stopped a year ago. The defendant said the law clearly States that the lender is the one-year anniversary of the termination of the payment claim to the guarantor. It also turned out that the lender has languished waiting more than two years, and then decided to go to court. However, the litigation in the first and second instances, the surety lost. The judges considered the key factor awkward phrase in the contract, which, in fact, stretched debt bondage for poor indefinitely. Then the man filed a complaint to the constitutional court with a demand to cancel the article of the Civil code, which allows you to keep guarantors under the burden of foreign debt “to the grave”. The COP was dismantled and the dispute came to the conclusion that the lower courts made mistakes and incorrectly interpreted the law. According to the panel of high judges, the guarantee of the infinite can not be. As highlighted in the decree, it violates the basic principles of property rights and deprives of a citizen, acted as a guarantor for another’s debt, the possibility to plan the fate of their property. Therefore, even if the debtor, creditor and the surety has not set a clear time limit for bringing claims, it continues to exist is one year from the moment the debtor ceased to