Absa
Absa refuses to pay out under their guarantee

I sold my house and the purchasers obtained a bond from Absa. The transfer was registered on Friday 19 April 2013. Absa has issued a guarantee but has failed to pay out upon registration of transfer.

I understand from my attorneys that there is an internal matter at Absa that has not been dealt with, which I fully understand, however how can a financial institution with good standing such as Absa fail to honor their obligations under guarantees??? Surely they should pay out and sort out their internal issues separately!

This is extremely urgent please can it be attended to. Failure to pay by tomorrow 23 April will lead to further action as I deem fit.

Company: Absa
Country: South Africa
City: Home loans

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