Personal Guarantee Agreement Template: Terms & Liability

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PERSONAL GUARANTEE AGREEMENT TEMPLATE

This Personal Guarantee Agreement (“Agreement”) is entered into as of [Date], by and between:

Guarantor: [Full Name], residing at [Address]

and

Creditor: [Full Name or Company Name], with a principal place of business at [Address]

1. Purpose of Guarantee

The Guarantor agrees to unconditionally and irrevocably guarantee the payment and performance of all obligations owed by [Primary Obligor’s Name] (“Primary Obligor”) to the Creditor under [describe underlying agreement, e.g., Loan Agreement dated __], including any amendments or extensions thereto.

2. Scope of Guarantee

This guarantee covers all present and future amounts due under the underlying agreement, including but not limited to:

Principal
Interest (including default interest)
Late fees
Reasonable attorney’s fees
Costs of collection
Any other charges arising from the Primary Obligor’s obligations.

Principal

Interest (including default interest)

Late fees

Reasonable attorney’s fees

Costs of collection

Any other charges arising from the Primary Obligor’s obligations.

3. Nature of Guarantee

This is a continuing, absolute, and unconditional guarantee. The Guarantor waives any right to require the Creditor to:

a) First proceed against the Primary Obligor;

b) Exhaust any security or collateral; or

c) Pursue any other remedy before enforcing this Agreement against the Guarantor.

4. Representations and Warranties of Guarantor

The Guarantor represents and warrants that:

They have the legal capacity and authority to enter into this Agreement.
This Agreement constitutes a legal, valid, and binding obligation.
No consent, approval, or authorization of any governmental authority or third party is required for execution.

They have the legal capacity and authority to enter into this Agreement.

This Agreement constitutes a legal, valid, and binding obligation.

No consent, approval, or authorization of any governmental authority or third party is required for execution.

5. Termination

This Agreement shall remain in effect until all obligations have been fully paid and performed, or until terminated in writing by mutual consent of the parties. Termination will not affect obligations incurred prior to the effective date of termination.

6. Notices

All notices under this Agreement shall be in writing and delivered:

By personal delivery;
By certified or registered mail (return receipt requested); or
By recognized overnight courier service.

By personal delivery;

By certified or registered mail (return receipt requested); or

By recognized overnight courier service.

Notices shall be sent to the addresses stated above, unless updated in writing.

7. Governing Law and Dispute Resolution

This Agreement shall be governed by and construed in accordance with the laws of the State of [State], without regard to its conflict of laws principles.

Any dispute arising out of or relating to this Agreement shall be resolved through:

Good faith negotiation; and if unsuccessful,
Binding arbitration under the rules of [Arbitration Institution], with the seat of arbitration in [City, State].

Good faith negotiation; and if unsuccessful,

Binding arbitration under the rules of [Arbitration Institution], with the seat of arbitration in [City, State].

8. Confidentiality

The Guarantor shall keep the terms of this Agreement and all related financial information strictly confidential, except where disclosure is required by law or with the written consent of the Creditor.

9. Entire Agreement

This Agreement represents the entire understanding between the parties and supersedes all prior discussions, negotiations, or agreements relating to the guarantee.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

Guarantor Signature: _____________________ Date: ___________

Printed Name: ______________________________

Creditor Signature: ______________________ Date: ___________

Printed Name: ______________________________

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