About this document
What this document is
A personal guarantee agreement is a contract in which a guarantor promises to answer for another party’s specified payment or performance obligations.
Purpose
This template records the terms on which a guarantor supports a borrower, customer, tenant or other principal obligor’s obligations to a creditor.
Key components
- Parties and background identifying the creditor, guarantor and principal obligor
- Defined obligations and underlying agreement being guaranteed
- Guarantor’s promise to pay or perform on default
- Nature and extent of liability, including any agreed monetary cap
- Demand, enforcement and creditor rights provisions
- Guarantor confirmations, waivers and continuing-guarantee terms
- Notices, governing law and dispute-resolution arrangements
- Execution blocks for the parties and witness details
Document preview
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