Recourse (regres)
Also known as recourse, recourse claim, right of recovery, regreskrav, tilbagesøgning
Recourse is the right to pass the claim on to someone else — for instance the guarantor's claim against the principal debtor once the guarantor has paid.
In practice
Where a guarantor has paid your claim, they step into your rights against the principal debtor. The claim does not disappear — it changes owner.
For you, the matter ends when you have the money. For the guarantor, it begins.
Where it commonly goes wrong
- Failing to hand over the documentation to whoever paid. They need it in order to pursue their claim for recourse — and it may well be a condition of the agreement.
- The claim is never assigned in writing. Whoever paid has to be able to show the claim is now theirs.