In consideration that you have at my request agreed to provide credit to the Host Employer ("the Host Employer") on the terms and conditions of the Host Employer Agreement made between the parties ("the Host Agreement") the Guarantor as set out below ("the Guarantor") hereby:
1. Guarantees to MEGT the due performance, observance and fulfilment by the Host Employer of all the terms and conditions contained in or implied by the Host Agreement on the part of the Host Employer to be performed, observed and fulfilled.
2. Indemnifies and agrees to keep indemnified MEGT against all loss, damages, costs and expenses suffered or incurred by MEGT as a result of or in connection with any failure by the Host Employer to pay any monies or to perform, observe or fulfil any of the terms and conditions contained in or implied by the Host Agreement.
3. Acknowledges that the liability of the Guarantor will remain in full force and effect notwithstanding:
(i) that MEGT may grant time or other indulgence to the Host Employer;
(ii) if the Host Employer is a company, the Host Employer commits or is involved in any act of insolvency including liquidation, receivership, administration, scheme of arrangement or the like; (iii) if the Host Employer is a natural person, the Host Employer dies, becomes bankrupt, enters into an arrangement with his creditors or becomes of unsound mind;
(iv) that MEGT for any reason has not exercised or does not exercise all or any of the rights or powers MEGT has against the Host Employer.
4. Where this guarantee is given by more than one person, the obligations on the part of the Guarantor take effect as joint and several obligations and references to the Guarantor take effect as references to those persons or any of them.
5. The Guarantor agrees that MEGT may seek from a credit reporting agency a report containing financial information about the Guarantor for the purposes of assessing whether to accept the Host Employer’s credit account with MEGT. The Guarantor further agrees that MEGT may give to and seek from any credit providers that may be named in a credit report issued by a credit report agency information about the Guarantor. The Guarantor understands that this information can include any information about the Guarantor’s credit worthiness, credit standing, credit history or credit capacity that credit providers are allowed to give or receive from each other under the Privacy Act 1988.
6. A notice required or permitted to be given by MEGT to the Guarantor shall be in writing and shall be treated as being duly given and received if it is:
(i) delivered personally to the Guarantor;
(ii) left at the Guarantor’s address; or
(iii) sent by pre-paid mail to the Guarantor’s address.
7. A notice given to the Guarantor shall be duly given and received:
(i) when delivered (in the case of it being delivered personally or left at the Guarantor’s address); or
(ii) on the second Business Day after posting (in the case of it being sent by pre-paid mail). For the purposes of this clause, the address of the Guarantor is the address set out in this guarantee.
8. In this guarantee:
"Host Agreement" means the Application to Host Apprentice/Trainee and Obtain Credit executed by the Host Employer together with the Terms and Conditions.
"Host Employer" means the person named and described as the Host Employer in the Application to Host Apprentice/Trainee and Obtain Credit and includes all related and associate persons within the meaning of the Corporations Act 2001 and its directors, officers and employees.
"MEGT" means MEGT (Australia) Ltd, A.C.N.006 266 280, of 29 Ringwood Street, Ringwood in the State of Victoria and includes its directors, officers and employees. Unless the context otherwise requires:
(i) words importing the singular include the plural and vice versa;
(ii) a word importing a gender includes the other gender;
(iii) a reference to a party or a person includes the party’s or the person’s executors, legal personal representatives, successors, transferees and assigns.
The Guarantor acknowledges that he has been recommended to seek independent legal advice prior to the signing of this guarantee.
The Guarantor acknowledges that he has read and understood the Host Employer Agreement and this guarantee before signing this guarantee.