In the present era, and particularly in the period following the
economic recession and its recovery, many of our fellow citizens
are struggling to cope with the repayment of bank agreements and
loans. The major issue of loans in Swiss francs which is a blemish
of the existing banking system as well as the predominantly
inflexible regulations on the part of the Government, and the link
with other common mortgages, has resulted in added problems being
experienced by citizens against their counterpart credit
institutions. The bank loans consist of a tripartite banking
arrangement - the borrower/principal debtor, the ancillary (third
party) debtor, and the guarantor of the principal debtor. This
article will address the unfortunate position whereby a significant
portion of citizens of the Republic of Cyprus have signed
supplementary guarantee agreements, being in most cases relatives,
friends, colleagues and/or in other relationships with the
borrower, and have been called
