Back to top

Personal Guarantee Agreement, Personal Guarantee Agreement Template, Personal Guarantee Agreement Sample

These example Personal Guarantee Agreement are actual legal documents drafted by top law firms for their clients. Use them as Personal Guarantee Agreement samples, Personal Guarantee Agreement templates, competitive intelligence, drafting documents or to get information about transactions within a particular industry or sector. We have millions of legal documents and clauses that you can search for free.

SITE SEARCH

AGREEMENTS / CONTRACTS

Document Title:

Entire Document: (optional)

Governing Law:(optional)
 

CLAUSES

Search Contract Clauses >>

Browse Contract Clause Library>>

A personal guarantee is an agreement regarding debts owed. It is used by borrowers to show lenders they intend to pay their company's debts personally. A lender may require a personal guarantee before issuing any needed funds so they can ensure they'll receive payment, either from the owner of a company, or a member of management.

Historically letters of intent have been used for travel or Visa requirements, to assure a government agency that the traveler is financially secure. But this document is most commonly used to secure a loan, either by a bank or other lender who can provide financing.

By issuing a letter of guarantee, the guarantor is promising to take responsibility if the borrower forfeits a contract, a loan, or any other deal. In the event a loan can't be repaid, the agreement often grants the lender a chance to seize the assets of the individual who signs the guarantee. A personal guarantee is legally binding and susceptible to court action if not fulfilled.
Close this window