Finans
Musterek Kefalet (Joint Guarantee)
İngilizce: joint guarantee
Türkçe Tanım
Birden fazla kefilin ayni borca birlikte -fakat muteselsil olmayan- kefil oldugu yapidir; alacakli, kural olarak talebini butun kefillere birlikte yoneltmek zorundadir ve tek bir kefili butun borctan takip edemez. Bu yon, onu muteselsil kefaletten keskin biciminde ayirir ve alacakli acisindan belirgin olcude daha zayif bir teminat uretir. Kredi verenlerin proje finansmaninda muteselsil kefaleti tercih etmesinin sebebi tam da budur; salt musterek kefalette, bir kefilin aciz hali ya da bulunamamasi alacaklinin tahsilat yolunu tikayabilir, dolayisiyla kefalet dilinin muteselsil kurulup kurulmadigi, teminatin gercek degerini tayin eden ilk kontrol noktasidir.
English Definition
A structure in which several guarantors guarantee the same debt jointly, but not severally; as a rule the creditor must direct its claim to all of them together and cannot pursue a single guarantor for the whole debt. This sharply distinguishes it from a joint and several guarantee and produces markedly weaker security. That is why lenders prefer the joint and several form in project financing: under a purely joint guarantee, one guarantor's insolvency can block the creditor's collection path, so whether the language reads joint and several is the first control point fixing the true value of the security.