Rethinking guarantees and suretyship in lending agreements
The Land and Agricultural Development Bank of South Africa (Land Bank) is a government owned development finance institution tasked with, among others, the facilitation and support of equitable ownership of agricultural land through the increase of ownership of agricultural land by historically disadvantaged persons (s 3(1)(a) of the Land and Agricultural Development Bank Act 15 of 2002 (the Act)). It achieves these objectives through, inter alia, the provision of financial services to historically disadvantaged persons with the aim of promoting access to ownership of land for the development of farming enterprises and for agricultural purposes (s 3(2)(a)).
