Business Loan Difficulties in General Legal Issues Posted June 16, 2017 dubious maybe but if you hadn't of stopped paying none of the above would ever have happened..... it is a non regulated agreement so PG is fine. The above happened when the original document did not match the carbon copy signed by our former director. Which was requested time and time again. Prior to me as the major shareholder in the company on the recommendation of our accountant, to seek advice on the legitimacy of a hire purchase agreement with blank spaces for an imaginary vehicle. There is a country mile between a guarantor and an indemnity - so a PG is not just fine. We have a business overdraft that quite clearly outlines a PG and the responsibilities this brings.