INPUT ARTICLE: Article: The three most common contracts that may need a guarantor are mortgages, residential rentals, and credit cards. Each type of guarantor agreement may have different requirements.   On a mortgage, the guarantor is part of the mortgage process. Your guarantor will have to disclose his assets, income, and debts, as well as undergo a credit check. The mortgage company wants a guarantor that can pay for his own rent or mortgage and be able to assume yours if you default. More and more landlords are asking for guarantors on residential rentals. This is especially true in high cost of living areas like New York City. A landlord is going to want a guarantor who lives close and has a sufficient income to cover the rent payments if you default.  On a credit card application, the card issuer is going to look at the guarantor's income and credit rating. In short, the credit card will be in your name, but it will be granted on the strength of your guarantor's credentials. Parents often act as guarantors on credit cards issued to applicants that are under 21. There are three ways to have someone act as security for your contract. Besides having a guarantor, you can also have someone act as a co-signer or joint applicant. The lender or landlord will usually have the last say, but it is worth it to you to ask if you have other options than a guarantor.  A co-signer also agrees to pay the loan if you default. On a mortgage, a co-signer will be listed as a joint owner of the property until the mortgage is paid off. On a credit card or money loan, the co-signer is liable for the debt, but can't make charges. The main difference between a guarantor and a co-signer is that the lender must exhaust every possibility of collecting against you before they can sue a guarantor. A co-signer has less protection against liability and can be sued immediately. With a joint applicant, you can often pool your assets with another person, usually a spouse, partner, family member, or roommate to meet the requirements for the contract. A joint applicant is someone who will have the same rights as you as far as the property, rental, or charge account. In this type of agreement, the liability is usually equal. Both parties are responsible for the entire debt. When someone agrees to be your guarantor, he is trusting you to fulfill the contract. If you default, the consequences to your guarantor can be devastating. Before you ask someone to underwrite your contract, you need to have a contingency plan in case you run into trouble.   Keep your guarantor up to date on your financial condition. If you are beginning to struggle, it is critical that you be honest. You may need to move or ask for help with mortgage or credit card payments until you can get back on your feet. Be prepared to release your guarantor as soon as possible. When a new job starts paying off or old debts are paid, you will usually see your credit score and cash flow increase. On a credit card, it can often be as simple as a joint phone call. On a mortgage or contract, it may require refinancing the agreement or rewriting the lease. Your guarantor has legal rights against you. He is entitled to copies of all documents regarding the transaction and to check if you are paying your bills as promised. This is only fair. If you default, the lender will be very aggressive in their actions against your guarantor.  If this happens, your guarantor has the right to sue you to recover his losses if you default on the agreement.

SUMMARY: Decide what type of contract you are seeking. Research your options. Prepare a contingency plan. Understand your legal responsibilities.


INPUT ARTICLE: Article: Frame construction is ISO Class 1.  ISO Class 1 encompasses IBC Type VA and IBC Type VB.  Regardless of whether the IBC classification is A (protected) or B (unprotected) the ISO Class is 1. Frame buildings are buildings with exterior walls, floors, and roofs with combustible construction — or buildings with exterior walls of noncombustible or slow-burning construction with combustible floors and roofs.  Frame buildings generally have roof, floor, and supports of combustible material, usually wood, and combustible interior walls. Two variations on frame construction don't change the construction class:  Masonry veneer (brick veneer)- Masonry veneer is thin layers of brick, stone, or stucco, used for appearance purposes rather than structural support. Metal clad - A building with a metal exterior wall may not look like frame construction, but when the metal skin is attached to wood studs and joists, ISO classifies the building as frame.   Other conditions that lead to classification as frame construction include:  Metal walls or floors sheathed with combustible materials Metal floors or roofs with combustible insulation or ceiling material attached to the underside or within 18 inches (45.7 cm) of horizontal supports Composite assemblies of noncombustible materials with combustible materials easy to erect and alter economical versatile performs well in Earthquake areas – can move fire can spread rapidly highly damageable may become unstable in a fire  may include enclosed spaces where fire can spread undetected

SUMMARY:
Classification: Building elements: Advantages: Disadvantages: