Personal/Corporate Guarantee
Simply complete the Personal/Corporate Guarantee form below and click on View Results to see your completed contract.

LawDepot's Personal/Corporate Guarantee:

  • Is a contract where an individual or corporation agrees to be responsible for the debt or obligations of another party in the event that the other party defaults on its debt owed to a lender or creditor.
  • Is customizable as to whether it is a personal or corporate guarantee, continuing or non-continuing guarantee, limited or unlimited obligation, assignment of guarantor's loans to borrower, and more.
  • Can be filled out in a matter of minutes.
  • Is far less expensive than hiring a legal professional to draft a Personal/ Corporate Guarantee.

We regularly maintain this contract. Last Modified: February 2012


Personal/Corporate Guarantee Details
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This software has the flexibility to let you quickly create the Personal/Corporate Guarantee you want. It does this by providing many options with appropriate defaults.

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Guarantee
Type of Guarantor: Q. If the Guarantor is an executive with a corporation, does this make it a corporate guarantee?

A. Only if the executive is acting on behalf of a corporation (the guarantor) when he agrees to be responsible for the obligations and debts of the Debtor. If the executive is acting in his own capacity, then this would be a personal guarantee.
Personal Guarantee: This guarantee is used when an individual agrees to be held responsible for completing the duties and obligations of a debtor to a lender, in the event that the debtor fails to fulfill the terms of the debtor-lender contract.
Corporate Guarantee: This guarantee is used when a corporation agrees to be held responsible for completing the duties and obligations of a debtor to a lender, in the event that the debtor fails to fulfill the terms of the debtor-lender contract.

Type of Guarantee:
Continuing Guarantee: In this type of guarantee, the guarantor assumes liability for future obligations owed by a debtor to a lender or creditor in subsequent transactions, which either continue the debtor's liability or renew it from time to time after it has been satisfied.
Non-continuing Guarantee: In this type of guarantee, the guarantor assumes liability for past and present obligations owed by a debtor to a lender or creditor. The obligation ceases once that debt or liability has been satisfied.

Is there a maximum limit to the guarantee?
Limited Guarantee: In this type of guarantee, the guarantor is only responsible for a predetermined portion of the debtor's obligations to the lender. For example, the guarantor may be only be required to repay up to $5,000.00 of the debt owed to the lender if the debtor defaults in payment. In a limited guarantee, the maximum amount for which the guarantor may be liable must be clearly stated in the guarantee.
Governing Law
State:
Guarantor's Information (the person guaranteeing the debtor's obligations)
Number of Guarantors:

Name:
Address:
(e.g.  Suite #, Building Name, Street, City, State, Zip Code)
Debtor's Information (the person that owes the money or financial obligation)
Number of Debtors:

Name:
Lender/Creditor Information
(the person that is owed the debt or financial obligations)
Number of Lenders:

Name:
Address:
(e.g.  Suite #, Building Name, Street, City, State, Zip Code)
Debt Information
All present and future debt of the Debtor to the Lender is subordinated to the Guarantor? The Debtor would be giving up its priority as to the Lender in respect of any loans that the Guarantor has made to the Debtor or any other amounts that the Debtor owes the Guarantor.
Notice Information
(e.g. 416-555-5555)
Fax number:
E-mail address:
Additional Provisions Click here for tips on drafting your additional provisions.
Number of Provisions:
Signing Details
Date guarantee made: Click here to select a date from calendar