This document can be used to draft a guarantee for a commercial loan. This standalone Guarantee to be utilised with the Bilateral Standard Loan Document. Within the document, there will be cross referencing which reflects the corresponding version of the Bilateral Standard Loan Document, e.g. Borrower Friendly loan to be used with Borrower Friendly guarantee.
The Lender and the Guarantor intend this document to take effect as a deed where the Guarantor irrevocably and unconditionally guarantees to the Lender punctual performance by the Borrower of all the Borrower's obligations under the Finance Documents and undertakes with the Lender that whenever the Borrower does not pay any amount when due under or in connection with any Finance Document, the Guarantor shall immediately on demand pay that amount as if it was the principal obligor.
This document should be carefully read by the Guarantor and the Lender.
Both the Guarantor and the Lender should sign and return a copy, and once signed, both parties should get a copy. To avoid any future disputes, both parties may wish to have their signatures witnessed.
If either party wishes to amend the agreement in the future, both parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by both parties.
1. Create Document: Click “Create Document” button and fill in the details of the parties. You can click the “Fill with Member’s Information” button to complete the party’s information with your personal or business information saved to your account.
2. Please fill in any additional information by following the step-by-step guide on the left hand side of the preview document and click the “Next” button.
3. When you are done, click the “Get Document” button and you can download the document in Word or PDF format.
4. Please get all parties to review the document carefully and make any final modifications to ensure that the details are correct before signing the document. Each party should have a copy of the executed document. The document should be signed by the authorised signatory (or 2 directors for a company) and witnessed to complete the formality.